🌐 Farcaster changes hands for the second time in three months—is decentralized social still “decentralized”?
On October 15, Network School, founded by Balaji Srinivasan, announced that it had acquired Farcaster from Neynar. The deal terms were not disclosed. This is Farcaster’s second change of ownership this year: in January, Neynar took over from Merkle Manufactory, the platform’s original developer.
📌 Key information
• Farcaster will be renamed “Network State Protocol,” with the goal of building a network of digital communities people can join voluntarily
• Users will need to accept an on-chain “social smart contract” and obtain an access NFT. Those who decline will retain read-only access, and their keys, assets, followers, and post history can be migrated to other clients
• AI content moderation will be introduced, with real-person verification required gradually
• Some users say they were restricted to read-only access because of their old posts. Neynar co-founders Rish and Manan have left, while the rest of the team is joining Network School
💡 Market impact
The protocol itself is expected to remain open, but the client is shifting toward “strict moderation,” putting the balance between governance and openness in the spotlight. In the short term, this is more of a narrative-driven event for the social sector and does not directly determine ETH’s price action.
📊 ETH reference levels (daily chart over the past two weeks; current price around $2,364)
• Support: $2,282 / $2,320
• Resistance: $2,390 / $2,480
🤔 If a decentralized social platform asked you to accept new rules, would you stay or switch clients? Share your thoughts in the comments 👇
👉 Trade ETH: https://www.binance.com/zh-CN/trade/ETH_USDT
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⚠️ This is not investment advice. Please be aware of the risks.