Farcaster, Blockchain-Based Social Media Startup, Raises $150M, Led by Paradigm

Bradley Keoun is the managing editor of CoinDesk's Tech & Protocols team. He owns less than $1,000 each of several cryptocurrencies.

Farcaster, a blockchain-based social-media project, has secured $150 million in a fundraising round led by Paradigm, with participation from a16z, Haun, USV, Variant and Standard Crypto, according to aFarcaster is built atop the Ethereum blockchain as well as OP Mainnet in the Optimism layer-2 ecosystem, according to the project's

The project went"permissionless" in October and has since seen"350,000 paid sign-ups and a 50x increase in network activity," Romero wrote in Tuesday's post."There are hundreds of developers building on the protocol and a growing number of apps and frames for people to use."Farcaster turned heads with the Jan. 26 release of a new"Frames" feature, which allows apps to run within posts, so users don't have to click off to another site.

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