A "contract" now stands between users and the post button — that's what greets Farcaster users after the platform's latest change of ownership. The decentralized social platform has been sold by Neynar to Balaji Srinivasan's Network School. According to The Block, users must now sign a set of terms called a "social smart contract" following the deal, or their accounts will be downgraded to read-only — able to browse, but not to post.
Balaji Srinivasan is well known in crypto circles for his "network state" theory, and Network School is one of the projects he's actually been running in recent years. This acquisition brings Farcaster — a social protocol once touted for its decentralization and on-chain identity — directly under his own portfolio of assets.
At this point, public information only confirms the acquisition itself and the "sign to post" mechanism. The specific terms of the contract, its effective date, and Neynar's role going forward are not addressed in the available material.
