Neynar Acquires Decentralized Social Protocol Farcaster

Neynar, a developer infrastructure company, has acquired Farcaster, a decentralized social protocol valued at $1 billion. The acquisition includes code repositories, protocol contracts, and the Clanker token deployment platform.

The deal was announced by Dan Romero, co-founder of Merkle Manufactory, which developed Farcaster. Ownership will transfer over the coming weeks, with Rish and Manan of Neynar taking over leadership.

Romero stated that he and co-founder Varun Srinivasan will step back from daily operations to pursue a new project. Some members of Merkle Manufactory will also depart.