Insiders: Farcaster is expected to launch a token
ChainCatcher news, according to Fortune magazine, Farcaster announced last month that it has raised $150 million, led by Paradigm, with a valuation of $1 billion, marking the largest investment in Web3 social media to date.
One explanation for why the valuation is so high is that cryptocurrency venture capital firms are involved.
Crypto investor Liron Shapira stated, "If VCs still have LP capital to invest, they 'put in $150 million' instead of returning it, that means they can charge themselves an additional $20-30 million in management fees."
A source who requested anonymity due to business constraints indicated that, like most protocols, he expects Farcaster to launch a token, and investors will be eager to capture its fully diluted value.
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