Farcaster developer eyeing unicorn valuation as user activity spikes: Bloomberg

Users are posting and reacting on Farcaster more than ever before, but its total revenue pales in comparison to some competitors.

As daily activity on Farcaster, the breakout Web3 social media service, rockets higher and higher, its developers are reportedly seeking fresh capital.

Farcaster, which runs on Ethereum and OP Mainnet as well as Farcaster's off-chain system of peer-to-peer servers called Hubs, has attracted tens of thousands of users, including high-profile figures in the world of crypto. Ethereum founder Vitalik Buterin has been active on the network, calling it "better in many ways" than X.

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