As an experienced analyst, I’m intrigued by Farcaster’s recent $150 million fundraising round and the potential implications for this blockchain-based social media project. Dan Romero, Farcaster’s founder, shared the news in a post, mentioning the involvement of notable investors like Paradigm, a16z, Haun, USV, Variant, and Standard Crypto.
According to a recent announcement from Farcaster’s founder Dan Romero, the blockchain-driven social media platform has raised an impressive $150 million in a funding round. This round was spearheaded by Paradigm, with additional contributions from prominent investors such as a16z, Haun Ventures, US Venture Partners, Variant, and Standard Crypto.
Romero wrote in an update on Tuesday, “This investment will significantly benefit our ongoing efforts on Farcaster for a long period.” He further announced that they were recruiting full-time engineers to join their team.
In October, the project transitioned to a state where no permission was required to participate, leading to an influx of 350,000 paid subscriptions and a remarkable 50-fold surge in network activity. The protocol is now being actively developed by hundreds of engineers, while the number of applications and tools for users continues to expand.
Romero is well-known for being Duke University’s former college roommate with Coinbase’s co-founder, Fred Ehrsam.
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2024-05-21 19:52