Farcaster acquired by Balaji's Network School, plans techno-optimist moderation and human verification

Balaji Srinivasan's Network School acquired Farcaster from Neynar, which bought it from Merkle Manufactory in January; financial terms were not disclosed. Neynar co-founder Rish said Farcaster needs a different operating model. Rish and co-founder Manan will leave; other Neynar staff join Network School. Farcaster becomes the "Network State Protocol." Users are prompted to accept or decline a "social smart contract," with an access NFT for those who opt in. Decliners get read-only access, and keys, funds, followers and post history move to another client. AI moderation and human verification are planned; some users reported bans over months-old posts, which The Block did not verify.

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