PANews reported on February 21 that according to official news, Mask Network, the leader of decentralized social protocols, recently announced a strategic reorganization of its ecological organization MaskDAO. The three core projects Next.ID, Web3.Bio, and Firefly were officially split into independent entities and managed by MaskDAO to unleash the potential of each project and promote token economy and financing innovation. Founder Suji Yan said that this adjustment marks that Mask is transforming into a "Web3 social group", imitating the Tencent ecological model and building a decentralized social empire through investment and product matrix expansion.
Since its establishment in 2017, Mask Network has provided encrypted communication, payment and storage services to Twitter users through browser plug-ins. It has also raised more than $100 million through its venture capital firm Bonfire Union and continued to invest in decentralized social infrastructure. It currently operates three active nodes of Mastodon (including the largest instance Pawoo.net), and is committed to improving the decentralization of social networks.
In this spin-off, Firefly, as a Web3 social aggregator, has become an indispensable presence in decentralized social networking. Previously, Vitalik Buterin publicly displayed his Firefly homepage, and the future tokenization of Firefly has also become a hot topic in the community. This independent operation may lay the foundation for further exploration of decentralized social economic models and even the launch of native tokens.
