Farcaster
Farcaster is a blockchain-based social protocol founded by two Coinbase alumni.
It is a public social network similar to Twitter and Reddit. Users can create profiles, post "casts" and follow others. They own their accounts and relationships with other users and are free to move between different apps.
From its funding rounds, the project has successfully raised $180M from reputable investors, such as Paradigm, Andreessen Horowitz (a16z), Coinbase Ventures, Multicoin Capital, and many others.
Farcaster - WAITLIST Overview
Farcaster - Review
Farcaster is a decentralized social platform running on Ethereum. It enables users to create profiles, share messages, connect with peers, and build communities, providing a user experience akin to well-known social platforms such as X and Reddit.
The primary difference lies in its decentralized structure, ensuring individuals maintain control over their accounts and connections. This enables seamless transitions between applications.
The company behind Farcaster is called Merkle Manufactory, founded by former Coinbase executives, Dan Romero and Varun Srinivasan.
Users are required to pay $5 (in reality, $6 when you purchase your subscription with Apple Pay or Google Pay) to register an account and publish a restricted number of posts on the platform to deter bots from signing up and misusing posting privileges.
Farcaster unveiled ‘Frames’ on January 26, 2024, introducing interactive mini applications for both individuals and developers. Almost two weeks after the launch of Frames, Farcaster experienced a huge 1,722% surge in daily users, rising from 2,932 on January 26, 2024 to 50,504 on June 2, 2024, according to Dune.
Warpcast
Warpcast stands out as a favored choice among users for connecting to Farcaster. Its interface bears a resemblance to the structure of the social media platform, X, previously known as Twitter.
On Warpcast, individuals craft messages known as ‘casts,’ akin to ‘tweets,’ and share them through ‘recasts,’ similar to ‘retweets’ or ‘reposts.’ Users who actively contribute content on the platform are referred to as ‘Warpcasters.’
Warpcast functions as a client for Farcaster, offering users control over their accounts similar to email. Warpcasters can interact with others by setting up profiles and exchanging public messages.
Important features of Warpcast include the ability to establish a Farcaster account with a public profile, participate in posting and responding to public messages, and discover and explore the public profiles of other users.
Vitalik Buterin, co-founder of Ethereum, praises Farcaster. “Farcaster will NOT be deserted in 4 months, or 1 yr.”, Buterin stated.
✅ Farcaster’s pros:
- One of the best solutions in area of decentralized social networks;
- Praising from Vitalik Buterin;
- Has several public Smart Contract Audits;
- The project has a wide network of Tier 1 backers and partners;
- Team has profound experience in crypto (prev. Coinbase)
- Above-the-average Search Engine Optimization;
- Great PR performance;
- Good Influencer Marketing;
- Team participates in AMA sessions and actively runs social media.
📛 Farcaster’s cons:
- Has no public tokenomics yet;
- No clear development roadmap;
- Below-the-average SMM coverage;
- Weak Marketing Infrastructure;
- Poor Growth Marketing performance.
