OpenBazaar Saved, For Now, Sizable Donation Still Needed for Next Year

OpenBazaar to keep running through at least the end of the year but needs funds to “unlock explosive user adoption.”

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.

Some crypto community members took a jab at the employees of the project for attacking bitcoin and supporting SegWit2X – they were one of the signatories of the 2017 New York Agreement.

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.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,272FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today