
Neynar’s acquisition of Farcaster’s protocol, code, and infrastructure marks a significant shift as the platform transitions from a social-first to a wallet-first strategy, with co-founders stepping down from operations.
On January 21, Neynar announced its acquisition of Farcaster’s protocol contracts, code repositories, mobile app, and AI token platform Clanker. The acquisition will see Neynar take full operational control, with co-founders Dan Romero and Varun Srinivasan stepping down. This move signals a strategic shift from a social-first to wallet-first approach for Farcaster, amidst revenue declines.