Mask Network Splits Core Projects, Embraces Web3 Social Group Model

Mask Network, a decentralized social protocol, has recently undergone a significant upgrade to its ecosystem. The company announced a strategic restructuring of its organization, MaskDAO, which involves the splitting of its three core projects - Next.ID, Web3.Bio, and Firefly - into independent entities. This move is aimed at unlocking the potential of each project and driving innovation in tokenomics and financing.

Founder Suji Yan stated that this adjustment marks Mask's transformation into a "Web3 Social Group," emulating the Tencent ecosystem model. The goal is to build a decentralized social landscape through investment and product matrix expansion. Since its founding in 2017, Mask Network has provided encrypted communication, payment, and storage services to Twitter users through a browser plug-in. It has raised over $100 million through its venture capital firm Bonfire Union, continuously investing in decentralized social infrastructure.

Of particular note, Firefly, a Web3 social aggregator, has become an indispensable presence in decentralized social networking. Previously, Vitalik Buterin, co-founder of Ethereum, publicly showcased his Firefly homepage. The future tokenization of Firefly has also become a hot topic in the community. This independent operation may further explore the decentralized social economic model and even lay the foundation for the launch of a native token.

This split will strengthen the competitiveness of each project in their respective vertical fields and accelerate the realization of the vision of "making Web3 accessible to all."