MASK price surges 14% following $5m purchase by DWF Labs

Crypto market maker DWF Labs collaborates with Masks Community in a $ 5 million token deal to push decentralized social media to the mainstream.

Cryptocurrency Market Maker and Investor DWF Labs has invested $ 5 million in Masks Community, a decentralized social platform that bridges Web2 and Web3, as a part of the PUSH to assist web applied sciences for customers.

In a Wednesday Blog announcementDWF Labs “Managing associate Andrei Grachev defined that the choice to again the masks community will likely be again, as a result of the venture” constantly demonstrated each imaginative and prescient and implementation on this house. ” After the announcement, the worth of masks (masks) rose by 14% to $ 1.21, based on information from crypto.information worth training.

With Suji Yan based in 2018, Masks Community customers will be capable to entry web3 features reminiscent of coded messages, non-fungal tokens and decentralized financing instantly by means of current social platforms. Earlier than DWF Labs, the venture additionally supplied financing from buyers reminiscent of Animoca Manufacturers, Digital Foreign money Group and Longling Capital.

DWF Labs known as the deal a ‘strategic funding’, wherein Yan provides that the corporate brings ‘extra than simply capital to the desk’ as a result of it brings ‘international connectivity, ecosystem depth and an extended -term mindset’.

On the finish of February, Yan revealed that his public pockets had been hacked, which resulted within the theft of greater than $ 4 million in crypto. The assault, which lasted about 11 minutes, occurred just a few hours after his twenty ninth birthday. Yan suspects both a non-public key or an offline assault through the assembly, the place his cellphone was brief not supervision.