Gitcoin describes itself as a community of builders, creators and protocols that have come together in order to develop the future of the open internet. Gitcoin creates a community that supports new infrastructure for Web3 — includingn tools, technologies and networks — to foster development in the open-source sphere. GTC is Gitcoin’s governance token, launched in late May 2021. The token is needed for the creation and funding of the DAO that will govern Gitcoin.