Arweave provides strategic investment to Mask Network
Mask Network has received an investment from Arweave to support Mask’s future strategic development. This investment aligns with MaskDAO’s goal of strengthening ties with partner projects through strategic token swaps.
Arweave created a truly scalable, new type of storage infrastructure as the cornerstone of the data economy. Arweave has been consistently supportive of open web projects throughout its history, and has been in collaboration with Mask for some time, including providing Mask Network with financial support in May 2020. Mask harnessed this support to create a set of encryption schemes on Arweave, preventing user data from being accessed by other individuals or organizations. Mask is very pleased with the results of the previous collaboration and is honored to be recognized by Arweave and to receive additional funding.
The “File Service” feature in the Mask extension was built using Arweave’s blockchain-based solutions. This feature enables users to directly share files on social media, allowing either everyone or just a few select recipients to view them. Since the launch of the File Service feature, a total of 2,865 files have been stored in a decentralized way through the Mask extension.
“Mask has an insanely smart approach. We can’t compete with the network effects of the existing social media companies, but they can’t stop us embedding our Web3 experience into their UIs, forcibly bringing the old Web2 crowd into the new age”
— — Sam Williams, Founder and CEO of Arweave
Mask Network sincerely appreciates the continued support from Arweave, not only for their capital and technical backing but also for the support with valuable experience in relevant fields. With Arweave’s support, we are excited to keep pushing forward and achieve our mission.
Arweave makes information permanence sustainable. Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever — for the very first time. As a collectively owned hard drive that never forgets, Arweave allows us to remember and preserve valuable information, apps, and history indefinitely.