Mask Network Academy supports the HKUST Crypto-Fintech Lab by donating $MASK as its 1st cryptocurrency gift

Mask Network
2 min readApr 11, 2024


Mask Network Academy (the Academy), the leading decentralized social network protocol’s nonprofit arm, reveals its progress in supporting leading educational Web3 initiatives. Last week, The Hong Kong University of Science and Technology (HKUST) FinTech Lab (HKUST Crypto-Fintech Lab) announced the acceptance of a $50,000 donation (equivalent to approximately 390,000 Hong Kong Dollars) in $MASK, making it a first in the university’s history.

Established in December last year, the Academy provides funding and donations as well as technological collaborations to the world’s top universities and journalism programs, with the goal of promoting Web3 research and story-telling.

Hong Kong’s Web3 scene has gained significant attention and expansion after its easing and reshaping its crypto regulations toward embracing the development of Web3 industry. As a prodigious institution promoting technological innovation, HKUST had a head start in blockchain technology research by establishing the HKUST Crypto — Fintech Lab in 2020 to promote research and application of blockchain technology and fintech.

The donation from the Academy will support the lab’s blockchain-related research and student activities. Suji Yan, founder of Mask Network said, “The challenge we face in the Web3 industry today is that there is too little public awareness. The donation from us is aimed at promoting education and awareness in the long-term building in Web 3.”

Suji dropped out of the University of Illinois at Urbana-Champaign (UIUC) in 2017 to kick off his startup journey and founded Mask Network, which has grown into a pioneer of the decentralized social ecosystem. He’s been supporting various communities and educational institutions, having donated to UIUC and Shanghai Jiao Tong University. To further giving back to the communities and building Web 3 in the long run has led to the establishment of Mask Network Academy.

The HKUST Crypto-Fintech Lab is an important step for the Mask Network Academy to promote Web3 research and education worldwide. Also in April, Korea University Blockchain Research Institute, one of the best in the country and in the world, founded in 2018, also announced its partnership with the Academy in advancing blockchain education in the future. It will be an exciting journey for the Academy by continuing to connect and promote blockchain institutions, scholars and journalists around the world. Stay tuned as exciting news is down the way.


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