DWF Labs announces strategic $5M investment in Mask Network
DWF Labs, the global digital asset management firm in the Web3 industry, is announcing a strategic investment and partnership in Mask Network.
DWF Labs has invested by purchasing $5M worth of $MASK tokens. The investment will be used to support the continuous building of a decentralized social network and the Mask Network ecosystem at large, to make Web3 more accessible.
A pioneer in the decentralized social network space, Mask Network has been one of the earliest community members of the Bluesky protocol, the decentralized social network founded by Jack Dorsey, co-founder of Twitter. The Mask Network team has also been actively supporting some of the top instances of Mastodon, one of the largest decentralized social networks.
DWF Labs also made a $10M investment in the TON (The Open Network) ecosystem last November. TON Network is a third-generation proof-of-stake blockchain, initially designed in 2018 by the Durov brothers, the founders of Telegram Messenger. TON was designed to be fast, affordable, user-friendly, and fully scalable. Mask Network is also working with TON. In the future, social protocols and applications from the Mask Network ecosystem will integrate with TON and its relevant components.
As a multi-stage Web3 investment firm, DWF Labs has included multiple outstanding Web3 projects in its portfolio and with Mask Network onboard, DWF Labs is committed to supporting Mask Network’s aim to build a free, open internet that welcomes developers and users to enter the Web3 world. Mask Network has previously received support from private and institutional backers such as Arweave, Hard Yaka, Protocol Labs, and more. This partnership with DWF Labs will bring greater support for Mask Network and marks another milestone in their web3 journey.
About DWF Labs
DWF Labs is the global digital asset market maker and multi-stage Web3 investment firm present in Singapore, Switzerland, South Korea, the BVI, and the UAE and trades almost 2,000 pairs with a daily volume that places DWF Labs among the top 5 ranking entities trading on the world’s top 40 exchanges.