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Farcaster changes hands: Neynar acquires the protocol that was once valued at $1 billion
Source: Yellow Original Title: Farcaster changes hands: Neynar acquires the protocol once valued at $1 billion
Original Link: https://yellow.com/es/news/farcaster-cambia-de-manos-neynar-adquiere-el-protocolo-que-una-vez-estuvo-valorado-en-1000-millones-de-ddollars Neynar, the infrastructure company for developers that has driven much of the Farcaster ecosystem since its early days, is acquiring the decentralized social protocol along with its code repositories, protocol contracts, official app, and the token deployment platform Clanker, according to co-founder Dan Romero.
What happened: infrastructure takes over the protocol
Romero announced the acquisition on Farcaster, noting that ownership will be transferred in the coming weeks. He and co-founder Varun Srinivasan will step back from daily operations to pursue a new project.
Some members of Merkle Manufactory, the company behind Farcaster, will also depart.
Rish and Manan from Neynar will take on leadership. They will be responsible for managing and maintaining everything from now on, Romero wrote.
No immediate changes are planned for the Farcaster client, the protocol, or Clanker, and wallet functions, exchange capabilities, and subscription prices will remain unchanged.
Why it matters: new leadership for decentralized social
Industry observers described the deal as a significant event for decentralized social networks. Sid Shekhar called it “infrastructure acquiring the application layer and protocol,” a structure he described as unexpected.
Developer Jacek noted that Neynar has served as the de facto backend for much of what developers build on Farcaster.
“This is one of the few teams I trust,” he wrote.
Romero acknowledged the difficulty of the decision. “After five years, it’s clear that Farcaster needs new focus and leadership to reach its full potential,” he said.