Neynar, the core infrastructure provider for the ecosystem, is acquiring the decentralized social protocol Farcaster along with its flagship app and the Clanker AI token launchpad. Co-founders Dan Romero and Varun Srinivasan are stepping away from daily operations at Merkle Manufactory, the company behind the protocol. The company is returning $180 million to investors, exceeding the $150 million raised in May 2024 from Paradigm and a16z crypto. Neynar plans to shift from a consumer-first approach to a developer-first model, absorbing the Clanker AI token launchpad in the process.
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