Source: Expect Farcaster to launch token like most protocols

BlockBeats news, June 14, according to Fortune magazine, Farcaster announced last month that it had raised $150 million, led by Paradigm, with its $1 billion valuation, this is 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.

"If venture capital still has LP capital to invest, they "invested $150 million" instead of returning it, which means they can charge themselves an additional $20-30 million in management fees," wrote crypto investor Liron Shapira.

A source who requested anonymity due to business constraints said that like most protocols, he expects Farcaster to launch tokens and investors will be eager to capture its fully diluted value.