Farcaster's Revenue Growth Slows Significantly Post-Funding

According to PANews, decentralized social platform Farcaster has experienced a notable slowdown in revenue growth since securing $150 million in funding this May. Despite achieving a valuation of $1 billion at the time, the platform's cumulative revenue increased from $2 million on July 1 to only $2.34 million over the past four months. Data from Dune indicates that Farcaster's revenue performance in October has been particularly weak, with daily revenue surpassing $1,000 on just four days, and total monthly revenue reaching only $10,000. Compared to the growth trend observed earlier this year, Farcaster's revenue growth has decelerated significantly since the May funding, with less than $1 million added to its total revenue to date.