Neynar acquires Farcaster after $1 billion peak valuation and $180 million funding

Neynar has acquired Farcaster, the decentralized social protocol built on Ethereum and Optimism, after the project's peak valuation of around $1 billion. Farcaster raised about $180 million across rounds, including a $150 million Series A in May 2024 led by Paradigm. According to Neynar, it will maintain the protocol, support clients, operate Clanker, and integrate Farcaster's technology over the next quarter.