{"id":13709,"date":"2024-05-22T13:18:05","date_gmt":"2024-05-22T10:18:05","guid":{"rendered":"https:\/\/forklog.com\/en\/blockchain-social-network-farcaster-secures-150-million\/"},"modified":"2024-05-22T13:18:05","modified_gmt":"2024-05-22T10:18:05","slug":"blockchain-social-network-farcaster-secures-150-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/blockchain-social-network-farcaster-secures-150-million\/","title":{"rendered":"Blockchain Social Network Farcaster Secures $150 Million"},"content":{"rendered":"<p>The blockchain-based social network project Farcaster has secured $150 million in funding, led by Paradigm.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Excited to share the news about our recent fundraise! <a href=\"https:\/\/t.co\/KJxuPJrtqg\">pic.twitter.com\/KJxuPJrtqg<\/a><\/p>\n<p>\u2014 Dan Romero (@dwr) <a href=\"https:\/\/twitter.com\/dwr\/status\/1792948611585831302?ref_src=twsrc%5Etfw\">May 21, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The funding round included participation from Andreessen Horowitz (a16z), Haun, USV, Variant, Standard Crypto, and several other firms.<\/p>\n<p>Farcaster co-founder Dan Romero stated that the funds will support the platform&#8217;s operations &#8220;for many years to come.&#8221;<\/p>\n<p>According to him, in the coming months, the team will focus on:<\/p>\n<ul class=\"wp-block-list\">\n<li>increasing the number of daily users;<\/li>\n<li>adding developer primitives to the protocol, such as &#8220;channels or direct messages.&#8221;<\/li>\n<\/ul>\n<p>The project will continue hiring specialists, Romero added.<\/p>\n<p>He noted that since transitioning to a <span data-descr=\"permissionless\" class=\"old_tooltip\">permissionless<\/span> model in October 2023, the platform has recorded 350,000 paid subscriptions and a 50-fold increase in on-chain activity.<\/p>\n<p>Farcaster&#8217;s popularity <a href=\"https:\/\/u1f987.com\/en\/news\/farcasters-user-base-expands-ninefold-following-frames-launch\">significantly increased<\/a> since late January 2024, following the launch of the Frames functionality. This solution allows developers to embed various interactive features directly into messages.<\/p>\n<p>Back in April, the Farcaster-related startup Merkle Manufactory <a href=\"https:\/\/u1f987.com\/en\/news\/farcaster-developer-valued-at-1-billion-reports-say\">was valued at $1 billion<\/a> following an investment round led by Paradigm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The blockchain-based social network project Farcaster has secured $150 million in funding, led by Paradigm. Excited to share the news about our recent fundraise! pic.twitter.com\/KJxuPJrtqg \u2014 Dan Romero (@dwr) May 21, 2024 The funding round included participation from Andreessen Horowitz (a16z), Haun, USV, Variant, Standard Crypto, and several other firms. Farcaster co-founder Dan Romero stated [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[130,465,1133],"class_list":["post-13709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-decentralization","tag-social-media","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=13709"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/13708"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=13709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=13709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=13709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}