Aiming to build the future of Web3, the DWF Labs team heralded a massive $5 million investment in altcoins as part of the investment in the industry, in a new announcement on Jan.
DWF Labs announces $5 million strategic investment in this altcoin project
Global cryptocurrency management firm DWF Labs in the Web3 industry is announcing a strategic investment and partnership on Mask Network. DWF Labs has launched its initial investment by purchasing $5 million worth of MASK tokens. The investment will be used to support the continued construction of a decentralized social network and the Mask Network ecosystem in general to make Web3 more accessible.
A pioneer in the decentralized social networking space, Mask Network has been one of the earliest community members of the Bluesky protocol, the decentralized social network founded by Twitter co-founder Jack Dorsey. The Mask Network team also actively supports some of the most important examples of Mastodon, one of the largest decentralized social networks.
DWF Labs also made a $10 million investment in the TON (Open Network) ecosystem last November. TON Network is a third generation proof-of-stake Blockchain originally designed in 2018 by the Durov brothers, the founders of Telegram Messenger. TON is designed to be fast, affordable, user-friendly and fully scalable. Mask Network also works with TON. In the future, social protocols and applications in the Mask Network ecosystem will be integrated with TON and its related components.
As a multi-stage Web3 investment firm, DWF Labs has included many outstanding Web3 projects in its portfolio, and with Mask Network embedded, DWF Labs is committed to supporting Mask Network’s goal of creating a free, open internet that invites developers and users to go online. Mask Network previously had support from private and corporate backers such as Arweave, Hard Collar, Protocol Labs, and more. Also, this partnership with DWF Labs will provide further support for Mask Network and will be another milestone in their Web3 journey.
About DWF Labs
DWF Labs is a global market maker and multi-stage Web3 investment firm located in Singapore, Switzerland, South Korea, BVI and UAE. It trades around 2,000 pairs with a daily volume placing the platform among the top 5 institutions.
Mask Network was one of the earliest community members of the Bluesky protocol, the decentralized social network founded by Twitter co-founder Jack Dorsey. The collaboration of the two companies represents the latest partnership in the Web3 space of the cryptocurrency market. As you follow on Kriptokoin.com, Polygon (MATIC) has contributed to this field with a number of high-profile partnerships since last year.
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