Farcaster, a social media platform built on the Ethereum blockchain, is rumored to be considering launching its own token.
Funding and Valuation
Despite having only 50,000 daily active users, Farcaster recently raised $150 million in funding, valuing the company at $1 billion. This is the largest investment in Web3 social media to date.
Token Speculation
According to an anonymous source, investor interest in Farcaster may be driven by the possibility of a future token launch. Investors are eager to capture the potential value of the token, even if it lacks liquidity.
Focus on Growth
Farcaster co-founder Dan Romero emphasizes that the platform’s current focus is on increasing daily active users. The network has seen a surge in activity and has attracted developers building apps and tools.
Disclaimer
This article does not provide investment advice. Investors should conduct their own research before investing in any high-risk assets like Bitcoin or other cryptocurrencies.
