On November 15, Peter Wang posted a message requesting ideas for a new incubator and fund to support experimental projects built on the burgeoning Bluesky/AT Protocol ecosystem. Four weeks later, Skyseed emerged with an initial commitment of $1 million. This turnaround, a speed underscored by the fact that the fund doesn't even have a website yet (it does have a Bluesky profile, though), is testament to several things: the hype around Bluesky, which is emerging as a lifeboat for millions who have abandoned X (nee Twitter). But there's also an almost tangible hope that by starting afresh on a new social platform built on an open, decentralized network such as the AT Protocol, we might avoid the ad-driven, walled gardens that permeate social networking today. 'The vast majority of Facebook's revenue is from ads. All the major centralized social media companies are advertising companies, which means they trade in traffic and the users' attention,' Wang told TechCrunch in an interview...
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