OpenBazaar Saved, For Now, Sizable Donation Still Needed for Next Year
Decentralized marketplace OpenBazaar was saved over the weekend from becoming a ClosedBazaar when an anonymous donor agreed to “cover the costs to run OpenBazaar infrastructure through at least the end of the year.”
But 2021 will come soon enough, so the platform wants people to donate while it works to “find ways to lower costs and decentralize more of the infrastructure.”
It first announced its shutdown on Friday unless reportedly a sizable donation of $100k is made to the platform that provides seed nodes, API wallet, and exchange rate API. The marketplace has been reportedly seeing a lack of adoption and user growth.
Donations from all communities flowing in to help keep OpenBazaar alive. All funds will enable vital OpenBazaar infrastructure to continue surviving. Every sat counts!
— OpenBazaar (@openbazaar) September 26, 2020
Call for Help
OpenBazaar launched in 2014 at a hackathon in Toronto as “Dark Market,” it allows people to buy and sell goods online in a peer-to-peer network, without a single entity to oversee or control the process.
Its app Haven will also be removed from the iOS App Store, and Google Play Store on October 1st as such, users are recommended to immediately remove funds from their wallet.
“We wanted to bring the full power of decentralized marketplaces to a global audience,” but failed to achieve the level of user growth and adoption that is required to sustain their business.
Now, to maintain support costs and execute the next phase of the protocol that they “believe can unlock explosive user adoption,” community support, aka funds are needed.
At the time of writing, OpenBazaar has received less than $15k in Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Zcash combined.