What is Web3 Foundation?

Founded by Gavin Wood, the Web3 Foundation is a Switzerland-based nonprofit dedicated to the advancement of web3 technologies. Web3 is envisioned as the next era of the internet and is focused on web decentralization, the online exchange of value, and users being able to own and control their online data. The Web3 Foundation publishes research on cryptography and other blockchain-related fields and has provided hundreds of grants for web3-focused startups and projects. Notable grant recipients include Acala, Celer, WalletConnect, and the Polkadot Technology Alliance.