The decentralized social protocol Farcaster has changed hands once again, acquired from Neynar by Network School, founded by Balaji Srinivasan. The transaction amount was not disclosed.
Following the acquisition, Farcaster will transform into a “Network State Protocol”: users must sign a “social smart contract” to accept the new rules, or their accounts will be downgraded to read-only. Those who sign will receive an on-chain identity NFT. Violations include hate speech, scams, stalking, and AI-generated content impersonating real people. The new app also plans to verify users’ real-world identities to combat bots.
(Source: The Block)
#Farcaster #NetworkState #DecentralizedSocial
⚠️Risk warning: The above is shared for informational purposes only and does not constitute investment advice. Investing involves risk; please exercise caution.
Following the acquisition, Farcaster will transform into a “Network State Protocol”: users must sign a “social smart contract” to accept the new rules, or their accounts will be downgraded to read-only. Those who sign will receive an on-chain identity NFT. Violations include hate speech, scams, stalking, and AI-generated content impersonating real people. The new app also plans to verify users’ real-world identities to combat bots.
(Source: The Block)
#Farcaster #NetworkState #DecentralizedSocial
⚠️Risk warning: The above is shared for informational purposes only and does not constitute investment advice. Investing involves risk; please exercise caution.