Decentralized social network Mask Network restructures MaskDAO

Mask Network has launched a major restructuring of its Maskdao ecosystem, running three web 3 social projects – Next.id, Web3.bio and Luciole – under its umbrella.

The last update of the ecosystem, which was announcement On his MEDIUM blog on February 21, must provide each of the three projects greater freedom to grow, innovate and obtain funding.

Next.id, by emphasizing decentralized identity, gives users a multiplatform authority on which has their data.

Web3.bio works as a native Liendin Web3, combining the identities of Lens, Farcaster and ENS to rationalize the notation of reputation and the search for identity in decentralized space.

Firefly, on the other hand, unifies the native web3s by combining platforms like X, Lens, Farcaster, Gitcoin and Snapshot in a rationalized user interface.

Reorganization will allow projects to improve their tokenomic models and develop their user bases. According to Maskdao, the work independently will allow them to develop without being limited by the largest structure of Mask Network.

The founder of Mask Network, Suji Yan, described the decision as a key step towards the construction of a more open internet. He compared the transition to the approach of Tencent aimed at extending his ecosystem through separate commercial units through investment, games and applications.

“We have positioned ourselves as a web social conglomerate similar to Tencent which has managed to expand their ecosystem via different business units in investment, games and other applications.”

Implement

Founded in 2017, Mask Network has positioned itself as a bridge Between web2 and web3, the integration of decentralized messaging, payments and file storage with traditional social media platforms like X. The project attracted tens of thousands of users and collected more than $ 100 million With the support of his venture capital arm, Bonfire Union.

Mask Network was also a solid decentralized social media funds as mastodon. He maintained some of the largest Mastodon bodies and supported the platform team with donations. With the last restructuring, Mask Network aims to strengthen its position in the social web3 space.