The new version of the free alternative to Windows Explorer, Files v3, is now available
The updated Files v3, a popular third-party alternative to the File Explorer in Windows 10 and Windows 11, is now available for download from its official website and the Microsoft Store. This latest version features a redesigned interface with several enhancements, including distinct colored icons for different versions: yellow for stable, purple for preview, and blue for public versions.
The updated user interface now presents modernized rounded files areas, adjusted background opacity, and an overhauled sidebar with distinct icons for pinned files. The update also replaces outdated copy-paste progress dialogs in the stock File Explorer with contemporary versions. Additionally, Files v3 now allows users to preview Office documents within the preview pane, enhancing its document management functionality, and introduces a Command Palette for executing various actions via quick commands.
Other enhancements includes the ability to run in the background, reducing launch time and improving overall performance; support for previewing different file formats, a speed graph for file operations, the ability to rename network drives, localized theme names in settings, among others. A comprehensive changelog for the new version 3.0 is available on their GitHub page. The updated version can be downloaded for free from the official website or the Microsoft Store (with a one-time payment for new users in case you want to support the developers).

Comments
Files is now no longer donationware, it is all paid software now. They even killed the links to the more recent versions on GitHub. This is VERY disappointing. It's only available through windows store for $8.99.
The last version available for download is 2.3.5.0 released August 5, 2022. I know they released binaries after that, because I had them installed on my other machine. I get that projects need to be supported, but this is very atypical for OSS, to suddenly become paid software. I'd be amazed if a big handful of forks don't crop up and knock offs start appearing.
Files is available for free if you download from the website https://files.community/download (there is also a link in the readme file on GitHub).