Odaily Planet Daily reports: Decentralized social network Farcaster has changed ownership for the second time this year. Network School, led by Balaji Srinivasan, has acquired Farcaster from Neynar, with the transaction amount undisclosed. Rish, co-founder of Neynar, stated that after evaluating multiple acquisition offers, the company decided to transfer the Farcaster application, protocol codebase, and related products to Network School, as Farcaster’s next phase requires a different operational model. Rish and fellow co-founder Manan will depart, while the remaining Neynar employees will join Network School to continue developing Farcaster. Neynar had acquired the platform from its original developer, Merkle Manufactory, in January this year; the deal also included the token issuance platform Clanker. Rish did not disclose any future plans for Clanker; GM Farcaster host Adrienne and NourishProf indicated that Rish is considering spinning off Clanker and seeking alternative buyers. An in-app announcement on Farcaster states that the platform will be renamed “Network State Protocol,” aiming to build a network composed of voluntary digital societies, ultimately realizing this vision 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.
Farcaster Acquired by Network School in Second Ownership Change This Year
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Summary
Farcaster has been acquired by Network School, marking its second ownership change this year. The move follows Neynar’s January purchase from Merkle Manufactory. Neynar co-founder Rish said the decision came after evaluating multiple offers, as Farcaster requires a new operational model. Rish and Manan will depart, 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 via NFT. The network upgrade aims to build voluntary digital societies with real-world use cases. This crypto news update highlights the ongoing evolution of decentralized social infrastructure.
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