Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»Farcaster developer eyes unicorn valuation as user activity surges: Bloomberg
ADOPTION NEWS

Farcaster developer eyes unicorn valuation as user activity surges: Bloomberg

By Crypto FlexsMarch 30, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Farcaster developer eyes unicorn valuation as user activity surges: Bloomberg
Share
Facebook Twitter LinkedIn Pinterest Email

As groundbreaking Web3 social media service Farcaster sees increasingly higher day-to-day activity, its developers are reportedly looking for new capital.

Merkle Manufactory, the Web3 social media company behind the Farcaster social network and Warpcast client, is nearing completion of a funding round led by cryptocurrency VC Paradigm that will value the company at over $1 billion, giving the company unicorn status, a report said. . Bloomberg.

Running on Ethereum and the OP mainnet as well as Farcaster’s peer-to-peer server off-chain system called Hub, Farcaster has attracted tens of thousands of users, including some of the biggest names in the cryptocurrency world. Ethereum founder Vitalik Buterin has been active on the network, saying it is “better in many ways” than X.

In fact, according to The Block’s data dashboard, daily posts and reactions to Farcaster, known as casts, have nearly doubled in the past week to an all-time high. The peak in activity comes sometime after daily active users peaked in early February when the framing feature was introduced, suggesting that users who had been trying out the network and sticking around have become more active.

Farcaster currently sees significantly more daily activity than its Web3 social network competitor FriendTech, but FriendTech has proven to be much more profitable. Developers have earned more than $28 million in cumulative fees since launch, compared to Farcaster’s $850,000 in revenue.

Farcaster’s most popular client, Warpcast, was also developed by the Merkle Manufactory, but as a decentralized service, other competing clients exist to interact with the Farcaster protocol. Merkle, founded by former Coinbase executives Dan Romero and Varun Srinivasan, last raised $30 million in July 2022 in a round led by the a16z cryptocurrency.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Solana’s Journey: Promotion of Challenge, Innovation and Speed

June 6, 2025

Bitcoin’s $ 100k drop in caught many merchants for many merchants.

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

2025 Best Free Cloud Mining

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Analyst Michaël Van de Poppe says Bitcoin is getting higher.

June 6, 2025

Does Ethereum start their business? MorningStar Candlestick Pattern tells the story

June 6, 2025

Solana’s Journey: Promotion of Challenge, Innovation and Speed

June 6, 2025

Ether Leeum’s imminent brake out in major chart patterns

June 6, 2025

Bittensor increases rapidly after 118 subnets in the $ 1,000 TAO price guess.

June 6, 2025

Bitcoin’s $ 100k drop in caught many merchants for many merchants.

June 6, 2025

As the ETF rises, Bitcoin Eye Major Rally -but this can ruin the party.

June 6, 2025

Secure the Treasury in the BNB chain and launch VANECK

June 6, 2025

Use Sunny Mining Cloud Mining to earn $ 12,000 a day

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

2025 Best Free Cloud Mining

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Analyst Michaël Van de Poppe says Bitcoin is getting higher.

June 6, 2025
Most Popular

Memecoin Launch Guide 2025: Insights and Steps

January 22, 2025

Oxalis Games has a partner relationship with Open Loot for Moonfrost.

March 7, 2025

Uncovering the Secrets of the GAIA Platform: The Definitive Guide – The Defi Info

February 15, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.