Mask Network (MASK)

Social Media Integration

Mask Network lets users send encrypted messages and posts on platforms like Twitter and Facebook. It adds Web3 features to these familiar social media sites, allowing users to share content securely and privately.

Web3 Bridge

It acts as a bridge between Web 2.0 (traditional internet) and Web 3.0 (decentralized internet), enabling users to access decentralized apps, trade cryptocurrencies, and manage digital identities without leaving social media platforms.

Decentralized Finance (DeFi)

Mask Network supports DeFi functions, allowing users to trade tokens and interact with decentralized exchanges directly through social media.

User Control and Privacy

The platform enhances user control over data and digital identity by enabling encrypted communication and decentralized profiles.

Governance and Ecosystem

MASK tokens give holders voting rights to influence the platform’s development and access to special features within the Mask Network ecosystem.

Pros

• Mask Network lets users interact with Web3 apps directly on popular social media platforms like Twitter and Facebook, making it easy to use decentralized apps (dApps) without leaving these sites.
• It supports encrypted messaging and direct crypto transactions within social media, adding privacy and convenience.
• The platform bridges Web 2.0 and Web 3.0, helping users access blockchain features while keeping familiar social media interfaces.
• Mask Network has partnerships and ongoing development, showing active growth in the Web3 ecosystem.
• The MASK token has shown good market performance compared to many other crypto assets.

Cons

• Using Mask Network requires installing a browser extension or app, which might be a barrier for some users.
• The platform depends on social media sites, so changes in those platforms could affect Mask Network’s functionality.
• Some features may be complex for beginners new to crypto or blockchain technology.
• As a niche project, MASK token liquidity and adoption might be lower than major cryptocurrencies.

Founders

Mask Network was founded by Suji Yan, who is also the CEO. He has a background in advocating for social liberty and cryptography rights through previous projects like Dimension.im.

Institutional Investors

Mask Network has around 28 institutional investors including well-known names like Digital Currency Group (DCG), Fundamental Labs, Longling Capital, Animoca Brands, DWF Labs, Hard Yaka, SevenX Ventures, OKX Ventures, Northern Light Venture Capital, Hashed, CMCC Global, and others.

Angel Investors

There are about 17 angel investors involved, including notable individuals such as Raymond Wang (co-founder of ele.me), Qiufan Chen (writer and columnist), Max Webster, Qiao Wang, Imran Khan, and Balaji S. Srinivasan (former CTO of Coinbase).

Venture Funds

Mask Network has raised funds through a venture fund called Bonfire Union I, which raised around $50 million.

Summary

The investors in Mask Network include a mix of top crypto venture capital firms, blockchain-focused funds, and prominent individual angel investors.

Halal Status of Mask Network

Yes, Mask Network is generally considered halal because it functions as a decentralized platform that enables social media users to send encrypted messages and cryptocurrencies without involving interest (riba) or gambling elements. However, individual interpretations may vary based on personal beliefs and local guidelines.