The Mask Network protocol functions as a bridge for Web 2.0 users to enjoy the benefits of Web 3.0. Users can create personas with the help of the Mask extension to enjoy secure, decentralized, and social messaging on traditional social networks such as Facebook and Twitter.
In addition to its uses for decentralizing and securing communication over social media, the Mask Network also offers decentralized file storage services powered by Arweave Network. The service lets users permanently upload and store content in the decentralized infrastructure without worrying about censorship and is powered by the complete transparency and immutability of blockchain technology.
Mask Network brings the best of the crypto market and the Web 3.0 world to leading Web 2.0 platforms. Users can use the Mask extension service for sending encrypted messages to contacts on supported social networks, integrate widgets to social media platforms to access accurate price data of crypto assets, create their Web3 profiles, verify their NFT avatars on-chain and use them as their profile pictures, and more.
$MASK is the native crypto asset that powers the Mask Network ecosystem. It serves as the governance token for the MaskDAO, the Mask Network’s decentralized autonomous organization (DAO). $MASK holders can vote on key proposals deciding the project’s future evolution.
Mask Network is a free, open-source, blockchain-based decentralized web solution developed by Dimension. It offers the following services to users:
Users can send encrypted messages meant only for their target audience over supported social media sites through the Mask extension. As of November 2022, the service supports Facebook, Twitter, and Minds.com.
Mask Network lets users launch their new crypto projects and digital assets via an initial Twitter offering (ITO). Currently, this service can be used to launch new projects on Ethereum, Polygon, BNB Smart Chain, and Aribtrum networks.
The platform provides widgets that can be integrated into social networks to view the real-time price of crypto assets without switching browser tabs. This feature of Mask Network is powered by Uniswap, SushiSwap, Oz, and dHEDGE.
Users can verify and use NFTs they own as profile pictures on their social media profiles. The Mask Network supports free and easy on-chain verification of NFT images.
The Mask Network offers a one-stop source to manage all Web3 activity in a single location. Users can create their Web3 profiles and gain oversight into all their activities across dApps and decentralized services, including NFTs, POAPs, donation records, and more.
Powered by OpenSea and other NFT marketplaces, users can buy and sell NFTs directly from their social media profiles through the Mask extension. In this manner, the Mask Network connects Web2 social media services to decentralized Web3 services like NFTs and marketplaces.
Mask Network also offers cloud-based file storage using a decentralized network infrastructure powered by Arweave. Users can store their files online permanently in a censorship-resistant manner.
Users can install Mask Network as a browser extension or mobile app. Create their Mask IDs and connect their digital wallets to the service. They can then use the Mask ID or their Mask Network accounts to interact with Web 2.0 websites and integrate them with popular Web3 services.
The Mask Network protocol was founded by Suji Yan in 2019 as Maskbook and later underwent a rebranding. The Mask extension was developed to let social media users enjoy the benefits of blockchain-powered decentralized services over their accounts, including sending encrypted messages, transferring cryptocurrencies, and interacting with decentralized applications (dApps).
The protocol launched its governance token MASK in February 2021. $MASK allows for decentralized governance of the Mask Network by the MaskDAO. Token holders enjoy voting rights, with each MASK token representing one vote.
Mask Network runs on the Ethereum blockchain. The MASK crypto is designed as an ERC-20 token issued on the Ethereum network and a BEP-2 token on the BNB Smart Chain.
According to its roadmap for 2022, key focus areas for the developers of the Mask Network include building a solid ecosystem to drive mass adoption of its services, offering multi-chain integration and supporting more blockchain networks, integrating with Instagram, developing social graph functionalities, improving the decentralized governance mechanism, and more.
Mask Network is an interesting project with significant potential for returns if you wish to invest in it. As a bridge between Web2 and Web3, it offers a convenient way for users to onboard. It enters the decentralized world, enjoying the benefits without leaving its established presence on leading social networks.
The Mask Network price could trend higher as the platform integrates with more services and dApps, offering higher versatility. More use cases for the Mask extension would encourage higher on-chain activity and support the MASK to USD price in the market.
In addition, increased investor and end-user interest in the Web3 market could also drive up the price of Mask Network. Projects like Mask Network could turn even more attractive, and as the demand for its crypto increases, it could boost the MASK price statistics.
Although it is impossible to offer an accurate MASK coin price prediction based on its price history, here are some key factors that could influence price action in the Mask Network token:
As more users sign up for accounts on the Mask Network, the value of MASK crypto could rise. Investors could also turn more interested in the token amid increasing adoption of the project by end users.
When the Mask Network announces more integrations with existing Web2 apps, investor confidence in the cryptocurrency is boosted, driving up the price of MASK crypto. When the project adds more features and services, the price of Mask Network coin could also head higher.
In addition to the outlook towards Web3, the overall sentiment in the crypto market also plays a vital role in determining price trends in $MASK. A positive market sentiment or a risk-on mood in the global financial markets encourages higher buying activity, which could support the price of Mask Network. However, a bearish mood or risk-off sentiment drives sell-offs that could weaken the value of Mask Network and its market cap.
$MASK is the governance token of the Mask Network and serves the following uses:
$MASK token holders can become members of the MaskDAO. The DAO is responsible for voting on critical decisions concerning the future evolution of the Mask Network protocol.
Trade MASK against other assets to profit from changing market conditions. You can buy or sell Mask Network against other cryptocurrencies or hold it long-term if you believe in the future potential of the protocol. Check the current price of Mask Network, MASK market cap, circulating supply, and 24-hour trading volume, and analyze the MASK price chart before you trade Mask Network in the market.
You can grow your crypto portfolio by holding $MASK via the KuCoin Crypto Lending service. Head to this section of our platform to lend liquidity for MASK and earn attractive daily interest over seven days, 14 days, or 28 days. It offers a safe and risk-free way to grow your investment in MASK tokens.
While the Mask Network does not have an official staking program of its own, you can stake $MASK on other cryptocurrency exchanges to earn attractive APYs and grow your holdings. Here’s how:
1. Perform an online search to find the platforms that support staking MASK crypto.
2. Select the right option based on the APYs on offer, lock-in period, and reputation. Create an account on the platform.
3. Fund your account by buying $MASK tokens and head to the Staking section of the platform.
4. Enter the number of MASK tokens you wish to stake, select the duration you want to stake the tokens for, and confirm the transaction.
5. Sit back, earn rewards, and grow your holdings from staking $MASK.
As of November 2022, the Mask Network has several partners and supporters, including Hashkey Capital, Maker, Arweave, ChainIDE, Digital Currency Group, Alameda Research, Binance, and OKX. Other renowned names that have partnered with the project include Filecoin, Protocol Labs, NYM, Animoca Brands, and more.