PANews reported on March 7th that the Web3 Foundation announced a strategic shift, returning to its core mission of promoting and managing Web3 resources, supporting community, governance, and technological infrastructure, and focusing more on its long-term vision and resource management. Based on this strategic shift, the Web3 Foundation will transfer several projects and initiatives, including the JAM Prize, Polkadot governance support, the Polkadot Wiki, the knowledge base, Kusama Vision, and developer documentation, to other teams and organizations to ensure long-term impact and a healthy ecosystem.