Network School, the initiative founded by former Coinbase chief technology officer Balaji Srinivasan, has acquired the decentralized social network Farcaster from Neynar. The deal, announced on October 15, 2026, transfers the Farcaster app, protocol repositories and related products to the new operator. Financial terms were not disclosed.

The move marks Farcaster’s second change of ownership in 2026. Neynar had purchased the platform from its original developer, Merkle Manufactory, in January. That earlier transaction also included the token launchpad Clanker. Neynar co-founder Rish stated that the company evaluated several offers before selecting Network School, noting that Farcaster requires a different operating model for its next stage.

Team Transition and Continuity

Most Neynar employees are expected to join Network School and continue development work on the platform. Co-founders Rish and Manan will depart and pursue other directions. The arrangement aims to maintain continuity among much of the existing development team while shifting operational oversight.

Rish announced the transfer of the Farcaster app, protocol repositories and related products. The underlying protocol is intended to remain open and permissionless, though the primary client will operate under the new framework.

Rebranding and New Operational Framework

Under Network School, Farcaster will be renamed the Network State Protocol. An in-app announcement describes the goal as building a network of opt-in digital societies that ultimately get printed out in the physical world.

Users are prompted to accept or decline a social smart contract outlining platform conduct rules. Those who accept receive an on-chain NFT credential granting full access. Users who decline retain read-only access through the main app. Their keys, funds, follow lists and post history remain portable to other clients.

Network School plans to implement AI-assisted moderation and gradual human verification or proof-of-humanity checks to reduce bot activity. The approach draws on standards of public conduct associated with Singapore.

Background on the Platform

Farcaster is a decentralized social protocol that has attracted attention within crypto communities. In 2024 the project raised funding from investors including Paradigm and a16z crypto. Despite earlier growth in paid sign-ups and activity, the platform has faced challenges sustaining user engagement under prior models.

Neynar’s January acquisition positioned the company as the operator of the protocol, clients and Clanker. The latest transfer places responsibility for the app, codebase and related products with Network School while preserving much of the technical team.

Srinivasan has been a longtime participant and investor in Farcaster. Network School previously stated that its activities were built on the protocol. The acquisition aligns the platform with the broader Network State concept of voluntary digital communities that could extend into physical spaces.

No further details on the future of Clanker were included in the primary announcements. The protocol itself is expected to stay open, allowing alternative clients to continue operating alongside the moderated Network State Protocol reference app.