Re-understanding Web3 Social "Quasi-new" Project MASK NETWORK

MASK, as a token project launched in 2021, may not be considered a brand new project, but its product features and code submission status give a refreshing feeling, and it includes some exciting innovative designs.

MASK is a plugin that supports multiple mainstream browsers. After installation, users can see the MASK Network option on social media platform pages, and by clicking it, they can access its rich features.

social features

Information Integration

After installing the plugin, users can browse real-time news, events, and the opinions of influencers on social platforms simultaneously, greatly improving the convenience of information retrieval.

Web3 Digital Business Card

Many projects’ social account avatars will display a small MASK icon. Hovering over it can show detailed information about the project, including market capitalization, circulation, official website, community links, prices, and exchanges, etc. This allows investors to directly check the coin price situation, and it even provides risk warnings for the token contract, as well as supporting wallet connections for DEX trading.

For mainstream cryptocurrencies, users can also purchase directly using credit cards or mobile payment methods.

Individual users can also display their Web3 footprint and receive tips by binding their wallets to their social accounts.

Encrypted content release

Users can send encrypted content, which can be set to public, visible only to themselves, or visible to specified contacts.

Digital Red Envelope

Supports sending red envelopes using various on-chain tokens or NFTs, including random amounts and equal amounts.

wallet and other applications

Multi-Function Wallet

MASK also provides a powerful wallet that supports importing mnemonic phrases from other wallets. Its uniqueness lies in the ability to manage multiple mnemonic phrases simultaneously and supports viewing balances and NFT assets across multiple networks.

Cross-platform support

In addition to a well-known social platform, MASK also supports connecting to other major social networks.

Utility Toolkit

MASK provides a range of convenient tools, including:

• On-chain tools: Cross-chain bridge, Authorization management, Contract security check
• Financial Instruments: Decentralized Trading, Fiat Deposit, Savings Services
• Others: Web3 file services, digital blind boxes, etc.

Project Development Status

Code Contribution

The main code repository of MASK shows that 78 developers have submitted a total of 11,030 code changes. Since the issuance of the token in 2021, the team and community contributors have remained active, with the activity level of the code repository consistently high, peaking in 2023. This indicates that the team has been committed to technological iteration and product updates over the past few years.

Financing Status

According to public data, MASK Network has raised a total of $10 million in financing. The investors include several well-known institutions and projects. It is worth noting that, during the market downturn, MASK still secured two rounds of financing, which provides ample financial support for its ecosystem development and market expansion.

Token Distribution

Currently, the circulation of MASK has exceeded 96% of the total supply, which means that the number of tokens available for release in the future is limited.

Conclusion

MASK, as a Web3 project deeply integrated with social platforms, offers various practical features to meet industry demands. It holds an important position in the Web3 social space.

Although MASK is not a brand new project, its rich product system, continuous technological iteration, and ample financial support still give it the advantages of a new project. At the same time, most of the tokens have entered circulation, providing additional advantages. Therefore, as a "quasi-new" project, MASK still has great development space and market potential in the future.