The Open Web Fellowship programme aims to be an accelerant to the profit sharing communities ecosystem. As well as investing $100,000 into profit sharing communities, team will host a range of educational and informal events connecting industry experts with permaweb founders and other community members.
Team recently wrapped up the Arweave Open Web Incubator. The resulting projects were an outstanding success and a testament to the weeks of collaboration and innovation from the whole Arweave ecosystem. Since the launch of the incubator team have seen the creation of over 15 major new profit sharing communities (PSCs). Of these incredible projects, at least 9 have already been exploring funding options with world-leading venture capital funds, and 7 are finalising their first fundraising rounds!
The core Arweave team is simply blown away by the recent progress in the community. To support this powerful momentum, today team are very proud to announce next ecosystem development initiative: The Arweave Open Web Fellowship.
The Open Web Fellowship programme will run for six weeks, and you can sign up now. At the end, team will be hosting a Demo Day, where founders will showcase their brilliant projects live to the wider Arweave community and beyond, attracting new users, contributors, and potential investors.
Profit sharing communities are a fundamentally new way of incentivizing founders to build web services. Profit sharing communities couple profit sharing tokens (PSTs) with an on-chain governance structure. This enables you to earn a stream of tips from the usage of a permaweb app, as well as to monetize access to these futures profits. You can find out more about PSTs here, and about PSCs here.
The aim of this programme is to offer tailored support, resources, and guidance to both brand new and existing PSC founders who wish to push their projects to the next level.
There are referral rewards available for anyone bringing amazing new profit sharing community founders into the ecosystem. If you refer a founder who builds a community that team invest in as part of the fellowship programme, you will receive 35% of the profit sharing tokens that team purchase from them. To be eligible for this reward, the person that you referred to the programme simply needs to provide your contact details (either email address, Discord username, or Gitcoin/Github handle) when they register on Gitcoin.
Successful submissions will meet the following criteria:
The Arweave core team will be investing $100,000 in winning projects submitted during the Open Web Fellowship programme. This investment will be made in the form of the Arweave team purchasing selected projects’ profit sharing tokens. The winning projects will be selected by the core Arweave team following the Gitcoin submission deadline on the 25th of November, then negotiations for token purchase will be made individually with each project and its founder(s).