Quick Take
- Balaji Srinivasan’s Network School acquired Farcaster‘s app, protocol repositories and related products from Neynar for undisclosed terms.
- Farcaster will become the Network State Protocol, with an opt-in social contract, planned human verification and a focus on forming physical communities.
Balaji Srinivasan’s Network School acquired decentralized social network Farcaster from Neynar, The Block reported. Financial terms were not disclosed. The transfer covers the app, protocol repositories and related products, according to Neynar co-founder Rish.
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The deal marks Farcaster’s second ownership change this year, after Neynar acquired it from original developer Merkle Manufactory in January. Neynar considered several other offers. Rish and fellow co-founder Manan will move on, while other Neynar employees will join Network School to continue development.
An in-app announcement says Farcaster will become the Network State Protocol, aimed at turning online groups into physical communities. Users accepting a new social contract receive an access NFT confirming their choice onchain. Those declining receive read-only access through the main app, with their keys, funds, followers and post history moved to another client.
The app plans AI moderation and gradual human verification to curb bots. Neynar’s January acquisition also included token launchpad Clanker, but Rish’s transfer announcement did not specify its fate.
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