Farcaster Agreement October Year-to-Date Revenue Down 96% from Peak Month

On Oct. 25, according to Dune Analytics, Farcaster's cumulative revenue for the month to date was about $15,825, significantly lower than the $415,900 it earned in February. Its revenue for the previous month, on the other hand, was $32,840.

As previously reported, Farcaster closed a $150 million Series A funding round with participation from Paradigm, a16z crypto, Haun Ventures, and others, which valued the company at $1 billion. Farcaster co-founder Dan Romero said at the time that the funds would be used to support the company “for many years to come”. many years to come” to support the service, and will be used to expand the number of daily active users for the rest of 2024. (The Block)