The Dogecoin Foundation announced on Tuesday that it will be reforming itself in order to assist the Dogecoin (DOGE) community and foster the development of the blockchain.
The foundation said that it will be launching additional initiatives promoting the acceptance and usefulness of DOGE in the following weeks, with the goal of “increasing Dogecoin usage at the grassroots level.” The statement said, “The Foundation owns the Dogecoin trademark and the Dogecoin Logo and will keep them for the group.”
“This means that the Foundation will be able to carry on with the process of safeguarding the Dogecoin Brand while also allowing (under a very liberal agreement) the freedom to utilize it for Dogecoin-linked memes, ventures, and fun. — We have your support on this though.”
As per the foundation, it hopes to establish a three-year funding to hire group members to help it achieve its objectives. As advisory board members, the initiative’s website includes 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 seem to have been advocated by Neuralink CEO Jared Birchall.
The Dogecoin Organization was founded in 2014, shortly after Dogecoin creator Jackson Palmer launched the venture on Twitter as a joke. Since then, the foundation has made many philanthropic donations in and beyond of the crypto world.
Nevertheless, the organization had mostly gone quiet when some of its founders — Ben Doernberg and Eric Nakagawa — departed the initial foundation. According to CoinGecko statistics, the price of DOGE has increased by more than 20% in the past week, reaching $0.33 at the time of writing.