Neynar acquires Farcaster Protocol: A change in the social infrastructure landscape

2026-01-21 18:20:12

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【Crypto World】Web3 social track makes another big move. Neynar, a decentralized social infrastructure company supported by Haun Ventures, is acquiring Farcaster, an Ethereum-based social protocol. What does this acquisition mean? Let’s take a look at the new direction of the participants.

Farcaster’s two founders, Dan Romero and Varun Srinivasan, will gradually step back from protocol operations and focus on wallet application development. They are transferring Farcaster’s core assets—the protocol contracts, the Farcaster app, and the AI token issuance platform Clanker, which gained popularity for a period—to Neynar.

In terms of valuation, Farcaster was once valued at $1 billion. But recent data is a bit sobering: the profit in Q4 2025 was $1.84 million, down 85% year-over-year. This decline indeed reflects the challenges social protocols face in achieving commercialization. Whether Neynar, the new operator, can reverse this trend remains to be seen through subsequent product and ecosystem development.

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TerraNeverForget

· 5h ago

Another big project has been sold off. Farcaster went from 1 billion to now, it feels a bit nostalgic. --- Switching wallet development? Is this giving up on social, or is there another deeper meaning? --- $1.84 million in profit... Is this the reality of Web3 social? It feels a bit fragmented. --- Clanker also sold out together. It was so hot before, now it’s just asset transfer, haha. --- Can Neynar revive the project? I remain skeptical. --- From protocol to wallet, did the founders see through something long ago with this move? --- A $1 billion project ending up being acquired—truly unpredictable. --- Just want to ask everyone, who still uses Farcaster now? --- Isn’t this just capital cleaning up the mess? Changing the shell and continuing to hype.

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CryptoSurvivor

· 5h ago

Wow, Farcaster's valuation dropped directly from 1 billion USD, the gap is quite significant... The founder shifted to a wallet app, it seems like they are abandoning social and moving towards a more practical track.

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FOMOrektGuy

· 6h ago

Ha, it's another "strategic adjustment," in simple terms, a valuation cut by 20%. Farcaster went from 1 billion to now... But on the other hand, Neynar taking over is also considered a rescue; otherwise, those assets would really be lost.

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