Farcaster has received huge financial support. Many developers of #Nostr work part-time or use their own funds to invest in development. It seems that Farcaster wants to do the same thing as Nostr. They use shitcoins to support distributed storage and design an economic model for decentralized protocols.
"Farcaster announced the completion of a $150 million Series A financing."
This is a misleading headline. Farcaster as a protocol didn't raise the money, the main Farcaster client (Warpcast) did. It just show how much of a "decentralized in name only" this protocol is.
Thank you for sharing. Have you participated in Farcaster before? I saw in the news that "On May 21, 2024, the previous market rumors were settled. Farcaster announced the completion of a $150 million Series A financing, led by Paradigm, with participation from a16z crypto, Haun, USV, Variant, Standard Crypto, etc. After the completion of the financing, Farcaster's valuation reached $1 billion, joining the ranks of unicorn startups."
