OpenBazaar marketplace’s rebirth

Hoffman tweeted that OpenBazaar will need more independence from OB1 once the exchange closed in 2020, but he didn't say how.

OpenBazaar marketplace's rebirth

According to several social media and GitHub updates, the decentralized marketplace OpenBazaar is likely to make a revival after being shut down for over two years.

A repository on the site for collaborative software development, GitHub, reveals progress made as recently as April 12 in the construction of a new iteration of the marketplace that will be shut down in 2020.

Brian Hoffman, the former project director at OpenBazaar and current CEO of OB1, the for-profit company that developed its software, tweeted on April 9 that a “new” iteration of the marketplace is “getting more interesting by the day.”

In his responses, Hoffman was questioned about how the marketplace would be different this time, given that OpenBazaar was previously compelled to close due to financial difficulties and a lack of user growth.

In his response, Hoffman referred to “freedom of exploration” and implied that external factors had contributed to its initial decline.

On March 28, Hoffman tweeted a link to OpenBazaar’s GitHub page, which revealed that he had been developing a new version of the marketplace in the programming language Rust. This was the first indication that OpenBazaar would be making a comeback.

A few hours later, the official OpenBazaar account tweeted that “it is now time to grow again from the ashes” and that “work has begun.”

OpenBazaar’s website presently displays the message “OpenBazaar 3.0 is coming soon,” further supporting the likelihood that the marketplace will relaunch.

After the exchange ceased operations in 2020, Hoffman tweeted that a future version of OpenBazaar would require greater independence from OB1, but he did not elaborate on how this would be accomplished.

OpenBazaar was established in 2014 and has been lauded as a decentralized eBay alternative. It permitted consumers to engage in Bitcoin transactions directly with one another.

Following community input, the marketplace altered its name from Dark Market to OpenBazaar to enhance its public image.