Neynar will seek a new operations team for Farcaster, Clanker, and others, and return remaining company funds

Odaily News: Neynar co-founder Rish Mukherji posted on the X platform, stating that the team has initiated a process to find a new home or operations team for Farcaster, Clanker, and Neynar. They are currently in talks with several teams that may be suitable for operating decentralized social applications and related developer products.

Rish stated that as circumstances have changed over the past few months, the Neynar team is no longer the right fit to lead the next phase of development for these products. The company will return the funds on its balance sheet, the majority of which are still retained, while team members will pivot to new directions. He also expressed that he remains optimistic about Farcaster finding a long-term sustainable development model in the next phase.