OpenBazaar Set for a Comeback

After being shut down over two years ago due to financial issues and poor user growth, OpenBazaar, a decentralized marketplace, appears set for a comeback. Recent updates on social media and GitHub indicate that progress is being made on building a new version of the marketplace, which was shut down in 2020.

According to a GitHub repository, there has been progress as recent as April 12 on building a new version of the marketplace. Former project lead at OpenBazaar and CEO of OB1, Brian Hoffman, tweeted on April 9 of the progress made on a “new” version of the marketplace, stating that it is “getting more interesting by the day.”

Hoffman has also hinted at the marketplace’s return, citing “freedom of exploration” as a key factor in its revival. In a reply to a tweet asking how the marketplace would be different this time, Hoffman inferred that outside influence had contributed to its initial downfall.

The first hints that OpenBazaar would be launching a comeback came in a tweet from Hoffman on March 28, where he linked OpenBazaar’s GitHub page that showed he had been working on a new version of the marketplace using the programming language Rust. Just hours later, OpenBazaar’s official account also posted a tweet saying that “it is now time to grow again from the ashes,” and that “work has begun.”

Adding to the evidence that the marketplace appears likely to relaunch, the OpenBazaar website currently bears the message “OpenBazaar 3.0 – Coming Soon.”

Hailed as a decentralized eBay alternative, OpenBazaar was first launched back in 2014. It allowed users to interact directly with each other to make transactions using Bitcoin (BTC). The marketplace initially had the name “DarkMarket,” but changed it to OpenBazaar following community input in an attempt to improve its public image.

After the exchange had shut down in 2020, Hoffman tweeted that a future iteration of OpenBazaar would require more independence from OB1, but provided no more information about how this might work.

In summary, OpenBazaar, a decentralized marketplace, is set for a comeback after it was shut down in 2020. Recent updates on social media and GitHub indicate progress on building a new version of the marketplace using the programming language Rust. Brian Hoffman, the former project lead at OpenBazaar, has hinted at the marketplace’s return, citing “freedom of exploration” as a key factor in its revival. The marketplace initially had the name “DarkMarket,” but changed it to OpenBazaar following community input in an attempt to improve its public image. The return of OpenBazaar would be a welcome development for those looking for a decentralized eBay alternative.