Farcaster's latest move is pretty bold. Co-founder Dan Romero officially announced a major shift—in the past four and a half years, they've been all-in on a "social-first" approach, but the market just hasn't bought in, and they never achieved PMF (product-market fit).

Now they've figured it out and are making a complete pivot, going all-in on the "wallet-driven" path. Basically, they're done with the vague social concepts and are going straight for wallets and assets to see if they can blaze a new trail.

This kind of decisive move is pretty rare—now it's just a matter of whether they can really pull off the story in the end.