Neynar, a decentralized social networking tool, completes $11 million Series A financing, with participation from a16z and others

Odaily News Neynar, which provides developers with tools to build decentralized social networks, announced the completion of a $11 million Series A financing round, led by Haun Ventures, with participation from a16z, CSX, Coinbase Ventures and Union Square Ventures. Currently, most developers using Neynar services are developing social applications on Farcaster, which plays a "quite critical" role in this journey because it minimizes the contact points between users who are tired of encryption and the underlying blockchain, creating an experience similar to Web2 applications such as Instagram or X. (fortune)