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There used to be things like this all the time. When I first got started hahahahahahaha and some others would have group projects. You would own your own domain and host it yourself, but they would show how to do things and you worked as a group, helping each other out. I had some good results with a few of those.
These days, it could work, but I'm not sure if you will be able to find enough people to get it going.
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