yes the long awaited announcement is here and also Foundation transitioning https://news.kiwistand.com/stories/@Foundation:-Foundation-is-transitioning-ownership-to-Blackdove?index=0x69791b535ac64fa10f76065b3e57f0c8b2c08a36a24a92d64bd17de98d015f0e48c1a5f5

It's totally crazy. Basically all of web3 social is shutting down. How is this even possible!

Not all :) I have heard from reliable source Manifold has no intention of sunsetting any time soon! One of the anxieties of artists and collectors is of course wthe metadata and media is hosted. For example on Nifty all from and before 2021 is on their servers which after community panic broke out they say "For these NFTs, we will continue to host this metadata in perpetuity." You can question what is perpetuity :) for centralized servers: https://news.kiwistand.com/stories/@niftygateway:-Migrating-metadata-to-Arweave-extending-shutdown-to-April-2026?index=0x6979346063c9a65aa3075d7db3858ccfb71fc48ded5b191368922490ec9a803a37dbcee4

For FND they were pinning it on IPFS. They promise: "Blackdove will continue pinning all Foundation assets to ensure their ongoing availability." Not really comforting: https://foundation.app/blackdove

I recommend if you have work on FND pin it yourself. Lowest effort is to run an IPFS node on your desktop. https://docs.ipfs.tech/install/ipfs-desktop/ Anyway I know I do. Running multiple nodes with the art I made and collected. (on Dappnode & Raspberry pi)

Arweave looks more secure than IPFS but you'll have to hope the Arweave blockchain keeps on running, which is not set in stone. With IPFS you always have the option to easily run a node yourself and keep your stuff alive in the network, which is not the case with Arweave. (Or you could be the only one running an Arweave node keeping the chain alive, don't know how hard that is lol.)