Anonymous donor saves OpenBazaar... for now

Published at: Sept. 28, 2020

On September 25, OpenBazaar announced that their platform would likely shut down due to financial difficulties, stating that user growth and adoption had stalled.

According to a tweet published on Open Bazaar’s official Twitter account, a mysterious donor has since agreed to cover the cost of the marketplace’s operations through the end of the year.

While the exact amount of funding provided was not disclosed, OpenBazaar’s donation wallets have received over $13,000 as of publication. These funds came in the form of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and other crypto donations.

With its first beta released in 2014, OpenBazaar raised US$1 million in seed funding in less than a year with the help of Andreesen Horowitz, Union Square Ventures, and angel investor William Mougayar.

Tags
Related Posts
It’s time for the philanthropic sector to embrace digital currencies
The amount of cryptocurrencies on the market has skyrocketed from 500 in 2014 to nearly 7,000 only seven years later in October 2021. A reported 14% of people in the United States — which roughly equals 21.2 million people — have purchased some form of cryptocurrency, with more than 300 million crypto owners estimated worldwide. It’s clear: Cryptocurrency is here to stay, and its path to global recognition and success has only just begun. I have shared before how and why innovative sectors of longevity and biotech should cooperate with digital currency visionaries to future-proof their work. Crypto founders, CEOs …
Adoption / Dec. 5, 2021
OpenDAO (SOS), LooksRare (LOOKS) and WTF token: 3 airdrops, with 1 scam
NFTs continue to surge with what looks to be no end in sight. Since January 14, 2022 OpenSea notched trading volumes over $1.03 billion, and its latest rival, LooksRare, has eclipsed the platform according to data from DappRadar. What’s clear is that NFT collectors and traders appear to be shifting their sentiment on where they are seeing value. Since the start of 2022 there's been an emphasis on “community” with a buzz and advocacy of rewarding users for their participation. OpenSea has already generated more than $3.2 billion in total volume despite many NFT traders feeling that the marketplace betrayed …
Adoption / Jan. 21, 2022
Payment services provider Shift4 acquires The Giving Block for $54 million
According to an investor presentation published Tuesday, U.S.-based payment solutions provider Shift4 announced its acquisition of The Giving Block in cash and stock for $54 million, plus a potential earnout of up to $246 million. The Giving Block is an online platform that allows over 1,300 nonprofit organizations and charities to accept crypto donations. As told by its annual report, the organization processed $69.64 million in crypto donations, an increase of 1,558% from 2020. Out of this amount, approximately $12.3 million came from donations by nonfungible tokens, or NFT, projects. Ether (ETH) became the most-popular crypto donated for the first …
Adoption / March 1, 2022
Vitalik Buterin quietly donates $5M ETH to aid Ukraine as total tracked crypto donations reach $133M
As told by Aid for Ukraine, a joint initiative created by the Ukrainian government, FTX, Everstake, and Kuna to rally crypto donations for the country, Ethereum (ETH) co-founder Vitalik Buterin made $5 million worth of ETH donations to Ukraine in early April. According to the entity, despite the large donation sum, Buterin did not make an announcement regarding the transaction. It was eventually linked to him via the Ethereum Name Service domain name "vitalik.eth", which served as the origin of the transfer. .@VitalikButerin donated almost $2.5M in $ETH to @_AidForUkraine 2 days ago, and didn't say a word! He's also …
Adoption / April 7, 2022
Charities risk losing a generation of donors if they don't accept crypto
Charities accepting crypto donations are setting themselves up for an entirely new demographic of funders — who just so happen to be one of the most giving, according to charity organizations. Alex Wilson, the co-founder of The Giving Block, a crypto donation platform providing back-end support to charities, told Cointelegraph that the crypto community is still a market many charity organizations have nointeracted with. The top charity organizations in the world by funds received including United Way Worldwide, Feeding America, and UNICEF. All three of them accept cryptocurrencies as a means of donation. The Giving Block co-founder said the crypto …
Adoption / Nov. 14, 2022