{"id":129437,"date":"2026-01-23T12:05:02","date_gmt":"2026-01-23T12:05:02","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=129437"},"modified":"2026-01-23T12:05:02","modified_gmt":"2026-01-23T12:05:02","slug":"farcaster-denies-shutdown-returns-180m-after-neynar-takeover","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=129437","title":{"rendered":"Farcaster Denies Shutdown, Returns $180M After Neynar Takeover"},"content":{"rendered":"

Scaling a crypto app in \u201cwinter\u201d is hard. If anything, there are worrying statistics that most crypto projects don\u2019t last three months. In the meme coin world, +99% of new launches don\u2019t last an hour.<\/p>\n

Farcaster was a success, especially considering it built was on Ethereum. When the decentralized social media network was deployed in 2024, Ethereum had its own set of scaling challenges. Notably, the explosion of DeFi, and in some instances, popular meme coins like PEPE<\/a> strained the mainnet, forcing gas fees higher.<\/p>\n

Despite all this, Farcaster grew, finding widespread adoption and mentions from crypto heavyweights like Vitalik Buterin<\/a>. After Elon Musk took over Twitter, now X, the Ethereum co-founder actively used Farcaster to publish long posts. Through Farcaster, users could, for example, turn posts into NFTs, some of which traded at decent valuations.<\/p>\n

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