Network School Acquires Farcaster, Rebrands as Network State Protocol

Acquisition and Rebranding

Farcaster is changing hands again. Network School, the initiative led by former Coinbase CTO Balaji Srinivasan, announced on October 15, 2026, that it is acquiring the decentralized social platform from Neynar.

Key Features of the New Network State Protocol

The platform will not keep its name. Under Network School, Farcaster is set to be rebranded as the Network State Protocol. It will also gain a new rulebook built around AI moderation, proof of humanity, and a code of conduct modeled on Singapore.

Moderated Environment and Governance

The underlying protocol is expected to stay open and permissionless. Anyone can still build on it without asking for approval. The bigger shift is in the main app people use to reach it. The primary client framework will move to a moderated environment, and that environment comes with three headline features:

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User Engagement and Governance

Current users get a vote, and an NFT Network School is not simply flipping a switch on existing users. Current Farcaster users are being asked to vote on the new operational models. Those who opt in will receive an onchain NFT. The token is meant to reflect their support for the protocol’s new governance rules.

Financial Terms and Impact

Financial terms of the deal have not been disclosed. Neither Network School nor Neynar has put a public price on the platform. How Farcaster got here In 2024, the project raised $150 million from investors including Paradigm and a16z crypto. Farcaster struggled to sustain user growth under its original model. On January 21, 2026, Neynar bought Farcaster from Merkle Manufactory, the company that originally built it. The purchase included the protocol, its official client, and Clanker, an AI token launchpad.