Odaily Planet Daily News 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. Crypto investor Liron Shapira said that 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. A source who requested anonymity due to business constraints revealed that, like most protocols, Farcaster is expected to launch tokens, and investors will be eager to capture its fully diluted value. (fortune)