Folgerpedia will operate as a collaborative encyclopedia, and it will be interesting to see how the Shakespeare section develops.
I've had a brief play with the website, and found it really useful. For example, try searching for Hamlet. As well as basic background information, you can easily access digital copies of the Folio and Quarto editions, which is brilliant! This may prove a really useful and accessible resource for students.
For those interested in keeping up the developments of Folgerpedia - you can follow the Folger Shakespeare Library's blog here.