{"id":29279,"date":"2020-09-28T11:09:01","date_gmt":"2020-09-28T08:09:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29279"},"modified":"2025-08-27T16:06:31","modified_gmt":"2025-08-27T13:06:31","slug":"anonymous-investor-agrees-to-rescue-openbazaar-from-closure","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/anonymous-investor-agrees-to-rescue-openbazaar-from-closure\/","title":{"rendered":"Anonymous investor agrees to rescue OpenBazaar from closure"},"content":{"rendered":"<p>Anonymous philanthropist will fund the maintenance of the infrastructure of one of the oldest decentralized marketplaces, OpenBazaar, at least through the end of 2020.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">BREAKING NEWS!<\/p>\n<p>An anonymous donor has agreed to cover the costs to run OpenBazaar infrastructure through at least the end of the year. <a href=\"https:\/\/t.co\/VwSz9g27sa\">pic.twitter.com\/VwSz9g27sa<\/a><\/p>\n<p>\u2014 OpenBazaar (@openbazaar) <a href=\"https:\/\/twitter.com\/openbazaar\/status\/1310252576848437248?ref_src=twsrc%5Etfw\">September 27, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On Friday, September 25, OpenBazaar said it had fallen out of favor with users and lacked sufficient funds to continue operating.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">It was a good run. Maybe you can still help!<a href=\"https:\/\/t.co\/XJOjqh2vvD\">https:\/\/t.co\/XJOjqh2vvD<\/a><\/p>\n<p>\u2014 OpenBazaar (@openbazaar) <a href=\"https:\/\/twitter.com\/openbazaar\/status\/1309494786320146433?ref_src=twsrc%5Etfw\">September 25, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>There is no fixed target, but roughly we need $100,000 to operate for another year,<\/p>\n<p>the project representatives said.<\/p>\n<\/blockquote>\n<p>Without financing, OpenBazaar prepared to halt seed nodes from October 1, discontinue support for the Haven wallet and internal messenger, and provide user instructions for withdrawals. The marketplace also planned to publish the source code of its search engine in open access.<\/p>\n<p>Following that announcement, users donated about $13 thousand in Bitcoin, Ethereum, Bitcoin Cash, Litecoin and ZCash to the platform. The amount sent by the anonymous investor was not disclosed, though the fundraising drive has not stopped.<\/p>\n<blockquote>\n<p>\u201cWe still need your help. 2021 is coming soon. Please support free trade. We will seek ways to reduce costs and decentralize the infrastructure to slow the rate at which your contributions are spent,\u201d the platform\u2019s representatives said.<\/p>\n<\/blockquote>\n<p>OpenBazaar, the decentralized marketplace, was launched in 2014 at a hackathon in Toronto and initially focused on darknet markets. Later the focus shifted mainly to small merchants.<\/p>\n<p>The main distinction of OpenBazaar from traditional platforms lies in its implementation of p2p features: the network is sustained by user collaboration and has no central body that could restrict merchants in their actions.<\/p>\n<p>Since launch, users have conducted trades on the platform totalling around $44 million in cryptocurrency. This is a small figure compared with the turnover of darknet markets, through which, according to Chainalysis, about $5-15 million passes daily.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An anonymous patron will fund the maintenance of the infrastructure of one of the oldest decentralized marketplaces, OpenBazaar, at least through the end of 2020.<\/p>\n","protected":false},"author":1,"featured_media":29280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[477,822,287],"class_list":["post-29279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-darknet","tag-marketplace","tag-openbazaar"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/29279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=29279"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/29279\/revisions"}],"predecessor-version":[{"id":29281,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/29279\/revisions\/29281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/29280"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=29279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=29279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=29279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}