After several years of media silence, the Dogecoin Foundation returns and supports core developers and projects that benefit the meme cryptocurrency.
On Tuesday, the Dogecoin Foundation announced it would re-establish itself to support the Dogecoin (DOGE) community, as well as promoting the future of the blockchain. The Foundation said it will announce new projects over the next few weeks to promote DOGE adoption and use, and to “ramp up Dogecoin usage from the ground up”.
“The Foundation owns the rights to the Dogecoin brand and the Dogecoin logo and will keep them for the community,” the announcement said. “This means that the Foundation can continue to protect the Dogecoin brand and grant (very generously) licenses for use in Dogecoin memes, projects and for fun. – We stand behind you here.”
According to its own statements, the Foundation wants to secure a three-year budget to get team members and thus achieve the goals. The website of the project names the Ethereum co-founder Vitalik Buterin, the Dogecoin co-founder Billy Markus and the Dogecoin core developer Max Keller as members of the advisory team. The interests of the Tesla boss and DOGE proponent Elon Musk are probably represented by the Neuralink boss Jared Birchall.
In this context: Dogecoin wasn’t always a “fun meme coin”
The foundation was formed in 2014 after Dogecoin founder Jackson Palmer announced the project on Twitter for fun. She has hosted many charity events in and beyond the crypto space. But after a couple of the founders – Ben Doernberg and Eric Nakagawa – left the original Foundation, the group became very quiet.
As data from Cointelegraph Markets Pro shows, the DOGE rate rose over 19 percent to $ 0.32 in the past week.