Farcaster has announced a strategic pivot to emphasize its built-in wallet, moving away from its initial focus on a decentralized social media platform. Founded in 2020 by Dan Romero and Varun Srinivasan, the project initially aimed to create a Web3 social alternative. However, the rapid adoption of its wallet features has prompted this shift in focus. The decision reflects the project's response to user behavior, as the wallet's popularity outpaced social functionalities. Farcaster's early adopters, primarily from the crypto and tech sectors, have influenced its open protocol and community-driven culture, steering the project towards this new direction.