Thursday, December 1, 2022

Web3 Working Group Launches Nonprofit

San Luis Obispo-based Web3 Working Group said it has launched a new, 501(c)(3) nonprofit focused on educating people on web3 infrastructure. According to the nonprofit, it has received $2M from donors and partners like Arweave, The Graph, Livepeer, and Akash for its efforts. The nonprofit said it was co-founded by creators of Open Index Protocol, Amy and Devon James. The entire Web3 area -- which refers to cryptocurrencies, deentralized blockchain protocols, cryptocurrency exchanges, and other related areas -- has been buffeted in recent weeks by numerous failures and bankruptcies; most recently, the failure of cryptocurrency exchange FTX, one of Web3's cheerleaders.

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