According to Bloomberg, two former founders of the crypto investment firm Paradigm are leading an investment in Los Angeles-based Merkle Manufactory. Founded in 2020, Merkle Manufactory's software supports the decentralized social media network Farcaster. The company has two main products: the Farcaster protocol with a blockchain component and Warpcast, an application based on Farcaster. Warpcast is very similar to X, a social media platform once known as Twitter. Merkle Manufactory last raised $30 million in July 2022, led by a16z Crypto. In January of this year, the Farcaster ecosystem launched a new feature called Frames, which allows developers to display the functions of external applications without letting users leave Warpcast. Developers use the Frames feature to vote, play chess, and even mint non-fungible tokens. According to statistics, the number of daily active users of the Farcaster network has increased from less than 10,000 in the previous month to more than 50,000 in early February.