Farcaster, Blockchain-Based Social Media, Gets IDR 2.4 Trillion Injection Of Funds

The decentralized Farcaster is starting to trend among the crypto community. (Photo; Doc. Cryptoviet)

JAKARTA - Farcaster, a decentralized platform that carries innovative concepts and focuses on users. This platform has just raised fresh US$150 million (Rp2.4 trillion) in a funding round led by Paradigm, with participation from venture capital giants such as 16z crypto, Haun, USV, Variant, Standard Crypto, and several other well-known investors.

Dibidani oleh mantan alumni Coinbase, Dan Romero dan Varun Srinivasan, Farcaster terbentarkan sebagai alternatif Twitter yang menjanjikan. Platform ini memungkinkan pengguna untuk berinteraksi dengan konten baik secara on-chain maupun off-chain, membuka gate ke dunia interaksi yang lebih luas dan bebas dari batas platform tradisional.

In March, Farcaster almost reached a $1 billion valuation in the previous funding round. While Paradigm has not officially confirmed its participation at the time, this achievement shows Farcaster's great potential in revolutionizing the way we interact on social media.

Farcaster has an ambitious vision for the years to come. And Romero, the founder, revealed that hundreds of developers are currently building innovative applications and features on top of this platform. As more and more applications and "fractures" are being launched, Farcaster is preparing to welcome users from around the world.

Farcaster's main focus for this year is divided into two:

Partnering with Arbitrum

A strategic step was taken by Farcaster by integrating with the Arbitrum blockchain community. Arbitrum is a layer 2 technology designed to increase Ethereum's scalability.

This integration allows Farcaster users to build "frames" with Arbitrum transaction support, opening up direct access for developers and users into the dynamic Arbitrum ecosystem.