Bluesky, the emerging social platform, has launched a new seed fund, Skyseed, aimed at fostering innovation in the decentralized web. Co-founder Wang, who has a history in supporting decentralized projects, is spearheading this initiative to harness the potential of the AT Protocol, an open-source framework designed to allow users to retain ownership of their data.
The Skyseed fund, initially seeded with $1 million from Wang and angel investors, is expected to grow as interest in decentralized technologies surges. Wang envisions the fund supporting projects with viable business models and real products, with initial investments around $100,000. Additionally, developer grants between $5,000 and $25,000 will be awarded to promising projects.
Wang believes that the decentralized web is finally gaining traction, noting the influx of proposals reminiscent of the internet boom in the mid-90s. The fund will also serve as an incubator, fostering collaboration and mentorship among developers. The goal is to create a diverse ecosystem of applications built on the AT Protocol, allowing for niche networks and user experiences.
While Bluesky faces similar challenges as other social platforms, including content moderation, its decentralized approach could lead to a more user-centric social media landscape. Wang emphasizes that the ecosystem could evolve to include various monetization models, including advertising, but with a balanced approach that prioritizes user experience.
Despite potential challenges, Wang remains optimistic about the future of Bluesky and the decentralized web, asserting that users hold the ultimate power in open-source ecosystems.