Coinspeaker
Feb 21, 2025
21 0

Mask Network Spins Off Next.ID, Web3.Bio, and Firefly into Independent Projects

1 min

Mask Network has restructured its ecosystem, MaskDAO, by spinning off three Web3 projects—Next.ID, Web3.Bio, and Firefly—into independent entities under its management. This reorganization aims to facilitate growth, new ideas, and fundraising opportunities for each project.

Key Projects

  • Next.ID offers a reliable identity framework for decentralized applications and links user profiles across platforms.
  • Web3.Bio, launched in 2023, connects identity systems like ENS and Lens to create detailed user profiles using its Profile API.
  • Firefly serves as an all-in-one platform for Web3 users, integrating various networks and retaining full functionality of X.

Vision and Achievements

Founded in 2017, Mask Network aims to bridge Web2 and Web3 applications. Founder Suji Yan compared the strategy to Tencent's ecosystem expansion through diverse ventures. Mask Network has attracted tens of thousands of users and secured over $100 million in funding via its venture arm, Bonfire Union.

Since December 2022, it has managed Pawoo.net, a large Mastodon instance, emphasizing the importance of expanding decentralized social networks for a more open internet.