Network School, led by Balaji Srinivasan, announced the acquisition of the decentralized social platform Farcaster from Neynar on October 15, 2026. The platform will be rebranded as the Network State Protocol. Financial terms of the transaction remain undisclosed.
The new management plans to implement AI-driven content moderation, mandatory proof-of-humanity verification to combat bots, and a social smart contract based on Singaporean conduct standards. The underlying protocol will remain open and permissionless for developers.
Existing users are invited to vote on the new operational model. Participants who opt in will receive an onchain NFT representing their support for the updated governance rules.
Farcaster previously raised $150 million in 2024 from investors including Paradigm and a16z crypto. Neynar had acquired the platform, including the Clanker AI token launchpad, from Merkle Manufactory on January 21, 2026.
Network School recently secured funding at a valuation of $2 billion. The organization relocated its operations to Kazakhstan earlier in 2026.
