Farcaster has changed hands for the second time this year.
At the start of the year, Neynar took over the project from the original team. Now it’s been transferred to Balaji’s Network School. The app, protocol code, and most of the team are going with it, while two co-founders are leaving.
With a small bankroll of just 500U, news of an acquisition would definitely make me itchy to buy in. But it’s still unclear who’ll be in charge of Clanker, whether incentives will continue, or how the new team plans to make money.
The market is already talking about a “reboot of the ecosystem,” but if I buy in, what reason will the next buyer have to pay more? I can’t work out the numbers just yet.
I can afford to miss the first green candle. I’ll wait until the new team clarifies how the product and token are connected, then decide whether to put that 500U on the table.
At the start of the year, Neynar took over the project from the original team. Now it’s been transferred to Balaji’s Network School. The app, protocol code, and most of the team are going with it, while two co-founders are leaving.
With a small bankroll of just 500U, news of an acquisition would definitely make me itchy to buy in. But it’s still unclear who’ll be in charge of Clanker, whether incentives will continue, or how the new team plans to make money.
The market is already talking about a “reboot of the ecosystem,” but if I buy in, what reason will the next buyer have to pay more? I can’t work out the numbers just yet.
I can afford to miss the first green candle. I’ll wait until the new team clarifies how the product and token are connected, then decide whether to put that 500U on the table.