Farcaster, Blockchain-Based Social Media Startup, Raises $150M, Led by Paradigm
Summary
Farcaster, a blockchain-based social media project, has raised $150 million in a funding round. The round was led by Paradigm and included a16z, Haun, USV, Variant, and Standard Crypto. The project is built on the Ethereum blockchain and OP Mainnet in the Optimism layer-2 ecosystem. Since going "permissionless" in October, Farcaster has gained 350,000 paid sign-ups and seen a 50-fold increase in network activity. Hundreds of developers are building on the protocol, with a growing number of apps and frames available for use. The project is currently hiring staff-level engineers.
