Decentralized social network Farcaster acquired by Network School. According to Jinsecai, on October 16, Farcaster, a decentralized social network, changed ownership for the second time this year. Network School, led by Balaji Srinivasan, has acquired Farcaster from Neynar; the transaction amount was not disclosed. On Thursday, Neynar co-founder Rish stated that after evaluating multiple acquisition offers, the company decided to transfer “the Farcaster application, protocol codebase, and related products” to Network School, citing the need for a different operational model in Farcaster’s next phase. Rish and co-founder Manan will depart, while the remaining Neynar employees will join Network School to continue developing Farcaster.
In January, Neynar acquired the platform from Farcaster’s original developer, Merkle Manufactory, a transaction that also included the token issuance platform Clanker. Rish’s announcement did not mention the fate of Clanker, but during a live stream on Thursday, GM Farcaster host Adrienne and NourishProf stated that Rish is considering spinning off Clanker and seeking alternative buyers for it. Meanwhile, an in-app announcement revealed that Farcaster will be renamed “Network State Protocol,” with the goal of building a network composed of voluntary digital societies and ultimately realizing them in the physical world.
Users must choose to accept or reject a "social smart contract." Those who accept will receive an on-chain access NFT as proof.
Decentralized social network Farcaster acquired by Network School
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Summary
Farcaster, a decentralized social network, was acquired by Network School on October 16, 2026, following a network upgrade in ownership. This marks the second acquisition this year, after Neynar took over from Merkle Manufactory in January. Neynar co-founder Rish said the protocol update and transfer of the codebase to Network School was a strategic move for Farcaster’s next phase. Rish and Manan will step down, while the remaining staff will join Network School. The platform will rebrand as the 'Network State Protocol,' requiring users to accept a social smart contract for access, granting an NFT as proof.
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