Crypto market maker DWF Labs collaborates with Mask Network in a $ 5 million token deal to push decentralized social media to the mainstream.
Cryptocurrency Market Maker and Investor DWF Labs has invested $ 5 million in Mask Network, a decentralized social platform that bridges Web2 and Web3, as part of the PUSH to support internet technologies for users.
In a Wednesday Blog announcementDWF Labs “Managing partner Andrei Grachev explained that the decision to back the mask network will be back, because the project” consistently demonstrated both vision and implementation in this space. ” After the announcement, the price of mask (mask) rose by 14% to $ 1.21, according to data from crypto.news price education.
With Suji Yan founded in 2018, Mask Network users will be able to access web3 functions such as coded messages, non-fungal tokens and decentralized financing directly through existing social platforms. Before DWF Labs, the project also provided financing from investors such as Animoca Brands, Digital Currency Group and Longling Capital.
DWF Labs called the deal a ‘strategic investment’, in which Yan adds that the company brings ‘more than just capital to the table’ because it brings ‘global connectivity, ecosystem depth and a long -term mindset’.
At the end of February, Yan revealed that his public wallet had been hacked, which resulted in the theft of more than $ 4 million in crypto. The attack, which lasted about 11 minutes, took place only a few hours after his 29th birthday. Yan suspects either a private key or an offline attack during the meeting, where his phone was short not supervision.
