Network School, Balaji Srinivasan’s project, is acquiring Farcaster. As part of the deal, it will take over the Farcaster app, protocol repositories, and related products.
According to Neynar co-founder Rish, Farcaster needs a new operating model to continue developing. Network School has the resources it needs and plans to make Farcaster a digital complement to physical “network states.”
Most of the Neynar team will join Network School and continue developing Farcaster. Meanwhile, Rish, Manan, and several other team members will leave the project after four years on it.
The financial terms of the deal have not been disclosed.
Balaji Srinivasan is a former Coinbase CTO and a partner at a16z. He co-founded Earn.com, Counsyl, Teleport, and Coin Center, launched Network School, and is the author of the Network State concept. He was also an early investor in Solana, Ethereum, Avalanche, Chainlink, NEAR, Polygon, Polymarket, OpenSea, Zora, and other crypto projects.