Twitter's Decentralizing Social Media Initiative Bluesky Names Jay Graber As Lead

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Twitter Inc TWTR CEO Jack Dorsey tweeted that Jay Graber will lead the company-sponsored Bluesky.
Bluesky seeks to introduce new decentralized technology to gain respite from the web traffic dominance of companies like Alphabet Inc GOOG GOOGL, Google, and Facebook Inc FB.
The appointment comes almost two years after Dorsey had announced the project.
According to a Reuters report, the founder of social events firm Happenings Inc startup, Jay Graber, has worked as a cryptocurrency developer.
Price Action: TWTR shares traded lower by 1.78% at $63.66 on the last check Monday.