Decentralized social networking tool Neynar completes $11 million Series A financing, a16z and others participate

Neynar, which provides developers with tools to build decentralized social networks, announced the completion of a $11 million Series A round led by Haun Ventures, with participation from a16z, CSX, Coinbase Ventures, and Union Square Ventures. Currently, most developers using Neynar's services are building social apps on Farcaster, and the platform plays a "rather pivotal" role in this journey as it minimizes the touchpoint between crypto-weary users and the underlying blockchain, creating an experience similar to Web2 apps like Instagram or X.