Sentiment in the crypto market has been high of late as Bitcoin prices approach previous highs. The annual ETHDenver conference is in full swing. Mask Network founder Suji Yan recently delivered a speech titled Decentralized Social Revolution for Public Good at the Denver conference, explaining his thoughts on the decentralized social revolution and his willingness to Promote the path of decentralized social revolution through Mask Network.
Some time ago, two major decentralized social application giants, Farcaster and Lens, have opened registrations, sparking renewed hope in the community for the SocialFi track. As the old OG of the SocialFi track, Mask Network is not so much a product as it has evolved into a Web3 social group. It does more to invest in and build decentralized social applications and developer tools. , protocols and creative content to enable more people to join the Web3 world.
Suji Yan founded Mask Network in 2017 with the intention of becoming a link between the traditional Internet and decentralized networks. Mask Network initially encrypted posts on traditional mainstream social media platforms such as Facebook and Twitter. It has now developed into a multi-functional platform, including the web plug-in Mask.io , the application Mask X-Firefly App (Firefly) and its investment Agency Bonfire Union.
The Mask.io plugin now operates as a middleware between various social platforms such as Facebook, Bluesky and Lens. The Mask In addition, Mask Network and Firefly have jointly launched a $10 million builder program dedicated to further accelerating the development of all decentralized social protocols through subsidies.
Mask recently launched its second fundraising fund, with total funds under management reaching US$100 million. The results of the first fund basically cover the most popular projects in the Web3 social protocol, including Lens, Galaxy, Cyberconnect, TON and many other well-known social track products. In addition to social products, other tracks have also invested in Scroll, Orbiter Finance, Meson Network, RSS3 and other projects.
According to RootData data, Bonfire Union has invested in eight projects since 2024, including well-known projects such as AltLayer, 0xScope, and Orbiter Finance, and also covers decentralized social networking, infrastructure and other fields.
In early February this year, Mask Network established a strategic partnership with BlockBooster, an emerging venture capital institution in Asia, focusing on promoting high-quality projects in the fields of social networking, gaming and Web3 infrastructure. It is foreseeable that Mask Network will build an exciting investment portfolio based on its own advantages. . Including the recent AI wave once again sweeping the Crypto world, Mask Network is also deeply involved in the AI social product Chirper, in order to establish more social interactions between people and agents.
In addition to investment, Mask Network is also very generous in project funding. Mask has launched three rounds of Web3 social ecosystem funding since 2021, supporting about 100 outstanding Web3 innovation projects. In November 2023, Sujitech, an entity under Mask Network, donated $100,000 to Mastodon, a non-profit decentralized social media. This donation is the largest single donation Mastodon has received to date. In addition to the donation, the Mask Network team will also work with Mastodon to upgrade the system.
As mentioned earlier, at the ETHDenver Conference in 2024, Mask Network founder Suji Yan delivered a speech on decentralized social revolution for the public interest, once again demonstrating to the entire encryption world the attitude of Suji and Mask Network into decentralized social interaction. A project has survived two rounds of bulls and bears and is still active on the front line. In addition to the deep work of the founder and team, behind it is the energy field formed by the charm of the product itself.
In December 2023, Mask established Mask Network Academy, a non-profit entity to provide financial and technical support to the world's top universities and journalism projects, with the goal of promoting Web3 research and storytelling. In Suji's speech, we also got a glimpse of the imagination and motivation that a good story can bring to people.
In his speech, Suji mentioned that the purpose of Mask Network is to promote a new round of social revolution, "We believe that the real revolution will come, whether it is 10 years or 20 years, using our balance sheet and DAO to systematically help Revolution. I think one day we will have a great cyberspace alliance and there will be an independent cyberspace."
Suji was once one of the contributors to the Anti-996 License on GitHub. The Mask Network is surrounded by a group of people who have a great vision for a better society and a willingness to act. Therefore, the road to realizing the revolution in Suji's mouth already has firm talents and beliefs. Support, combined with Mask Network’s investment portfolio, we have reason to believe that Suji Yan and Mask Network are the leaders of the next generation of decentralized social networking.
