Farcaster Raises $150 Million in Funding Led by Paradigm
CryptoNewsTerminal Staff21 May, 2024
Farcaster Raises $150 Million in Funding Led by Paradigm
Farcaster, a decentralized social network platform built on Optimism (OP), has closed a funding round of $150 million. The round was led by Paradigm, with participation from A16Z Crypto, Haun Ventures, USV, Variant, and Standard Crypto. Farcaster enables users to connect with others, share content, and engage in discussions without centralized censorship. The platform's decentralized nature ensures that users retain control over their data and have a say in the governance of the network. The funding will be used to accelerate the development of Farcaster's platform, expand its team, and onboard new users. Farcaster is poised to become a major player in the social media landscape, offering a true alternative to centralized platforms like Twitter and Facebook.
