This guy did a deep dive on Farcaster so we don’t have to. Farcaster just raised $150m at a $1b+ valuation with 45k daily active users that seem to be mostly bots.
For context, Twitter has 250m DAU and is probably worth ~$50b. So Farcaster is valued at 2% of Twitter’s market cap with 0.02% of its DAU. 🤡🌎
Investors are going to burn billions on unworkable Web 3.0 apps while Nostr gets stronger by the day and grows organically. No blockchain needed.
MartyBent / Marty Bent
npub1guh…6hjy
2024-05-23 19:12:04
Author Public Key
npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjyPublished at
2024-05-23 19:12:04Event JSON
{
"id": "1da66796a0112198850125c46fdb44733ed3e479112ab56ebaeaca5c5029c49f",
"pubkey": "472f440f29ef996e92a186b8d320ff180c855903882e59d50de1b8bd5669301e",
"created_at": 1716484324,
"kind": 1,
"tags": [],
"content": "This guy did a deep dive on Farcaster so we don’t have to. Farcaster just raised $150m at a $1b+ valuation with 45k daily active users that seem to be mostly bots. \n\nFor context, Twitter has 250m DAU and is probably worth ~$50b. So Farcaster is valued at 2% of Twitter’s market cap with 0.02% of its DAU. 🤡🌎\n\nInvestors are going to burn billions on unworkable Web 3.0 apps while Nostr gets stronger by the day and grows organically. No blockchain needed. \n\nhttps://m.primal.net/IKoF.mov",
"sig": "ee0bcb67e861a34cc8009f8b5528cfa3c7a505328f2de7eb0ac2aa84c51a3632a6b9d76f7b3b5ef8d71b2226352ce3824c4e53b0fb1b3f7eb0145cb6643d4e1e"
}