As stated in a post by founder Dan Romero, Farcaster, a blockchain-based social media project, has raised $150 million in a fundraising round headed by Paradigm and including participation from a16z, Haun, USV, Variant, and Standard Crypto. As Romero stated in an update on Tuesday, “this will support our work on Farcaster for many years to come.” Staff-level engineers were being hired for the project, he continued.
Farcaster is built atop the Ethereum blockchain as well as OP Mainnet in the Optimism layer-2 ecosystem, according to the project’s documentation.
Romero stated in Tuesday’s article that since the project became “permissionless” in October, there had been “350,000 paid sign-ups and a 50x increase in network activity.” “There are hundreds of developers building on the protocol and a growing number of apps and frames for people to use.” Romero was most known for being the former roommate of Coinbase co-founder Fred Ehrsam while attending Duke University.