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 According to <a href="https://www.theblock.co/data/decentralized-finance/social-decentralized-finance/farcaster-daily-users" rel="noopener noreferrer nofollow">data from The Block,</a> Farcaster’s daily unique casters—users who post content on the platform—increased significantly from around 2,400 on January 25 to 19,100 on February 3, 2024.&nbsp;
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The platform’s daily unique reactors, or users who engage with content, also saw a substantial rise from approximately 2,700 to 25,000 over the same period.
The platform recorded a massive increase in user activity—casts and reactions, jumping from 11,000 to 127,000 and 29,000 to 514,000, respectively, during the same period.&nbsp;
This surge in activity has led to <a style="color: #0000ff;" href="https://www.theblock.co/data/decentralized-finance/social-decentralized-finance/farcaster-revenue" rel="noopener noreferrer nofollow">record-breaking daily revenue for the protoco</a>l; it increased 1,500% from $2,500 to over $39,000 during the same period. Since its launch in August 2022, Farcaster has generated cumulative revenue of almost $450,000.
The daily active users on Farcaster reached an all-time high following the recent introduction of embedded mini-apps called Frames. <a href="https://twitter.com/syndicateio/status/1753505936029933641" rel="noopener noreferrer nofollow">Launched on January 26</a>, Frames transformed Farcaster from a social platform into a versatile hub for various activities, including minting NFTs, playing games, and making instant checkouts directly within the Farcaster feed, eliminating the need for users to switch to another platform.
Co-founded by former Coinbase executives Dan Romero and Varun Srinivasan, Farcaster was built to provide a censorship-resistant solution for Ethereum wallet users to take control of their social media data. <a style="color: #0000ff;" href="https://twitter.com/dwr/status/1752812753356730449?s=20" rel="noopener noreferrer nofollow">According to Romero</a>,&nbsp; the Farcaster ecosystem has over 5 million unique follows, 6 million reactions, and 2.8 million casts. Warpcast, the <a style="color: #0000ff;" href="https://dune.com/shoni_eth/farcaster-protocol" rel="noopener noreferrer nofollow">largest app built on the protoco</a>l, represents 45% of its signups.
Farcaster’s growth is particularly noteworthy, especially considering the <a href="https://www.theblock.co/data/decentralized-finance/social-decentralized-finance/friend-tech-daily-transactions?_gl=1%2a1eb47hz%2a_ga%2aN29pWkZXTEZ1eDVBZHoxbVE3WnFiUlMybnAyS2R2YWxCNmJLMGNyT3FaTkNDTGZPVkp3VEZYcUlNdUtJSk40cQ..%2a_ga_9S53DMZLMT%2aMTcwNzE0NjY5Ni4zLjEuMTcwNzE0NjY5Ni4wLjAuMA.." rel="noopener noreferrer nofollow">downturn in activity on other SocialFi platforms like Friend.Tech</a>.
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The post <a href="https://defi-planet.com/2024/02/farcasters-daily-user-activity-surges-to-all-time-high-sets-new-revenue-records/" rel="noopener noreferrer nofollow">Farcaster’s Daily User Activity Surges to All-Time High, Sets New Revenue Records</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Farcaster’s Daily User Activity Surges to All-Time High, Sets New Revenue Records

DeFi Planet

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