After nearly a year of near-complete media silence, the Dogecoin Foundation is returning to support core developers and projects that benefit the meme-based cryptocurrency.
The Dogecoin Foundation announced on Tuesday that it would be re-establishing itself in order to support the Dogecoin (DOGE) community and promote the future of the blockchain. The foundation stated that it would be announcing new projects encouraging the adoption and utility of DOGE in the coming weeks, with the goal of “increasing Dogecoin uptake at the grassroots level.”
The announcement stated, “The Foundation owns the Dogecoin mark and the Dogecoin Logo and will keep them for the community.” “This means that the Foundation will be able to continue to protect the Dogecoin Brand while also allowing (under a very liberal license) the ability to use it for Dogecoin-related memes, projects, and fun.” — We have your back on this one.”
According to the foundation, it hopes to secure a three-year budget to hire team members to help it achieve its goals. As advisory board members, the project’s website lists Ethereum co-founder Vitalik Buterin, Dogecoin co-founder Billy Markus, and Dogecoin core developer Max Keller. Furthermore, Tesla CEO and DOGE supporter Elon Musk’s interests appear to be represented by Neuralink CEO Jared Birchall.
The Dogecoin Foundation was founded in 2014, months after Dogecoin founder Jackson Palmer announced the project on Twitter as a joke. Since then, the foundation has made numerous charitable contributions in and out of the crypto space. However, the group had largely gone silent after some of its founders — Ben Doernberg and Eric Nakagawa — left the original foundation.
DOGE’s price has risen more than 19% in the last week, reaching $0.32 at the time of publication.