Popular blockchain-based protocol, Mask network has acquired Pawoo.net, one of the largest Mastodon instances. The protocol announced the development in a Twitter post on Wednesday. According to the announcement, it acquired the project through its affiliated entity, The Social Coop Limited (Social Coop).
As revealed by Mask, the taking over of Pawoo.net operation and maintenance begins today, December 21st, 2022. However, as revealed, the taking over will not pose any impact on existing customers.
Worth noting that the project began operation in Japan in 2017. It is recognized as the second largest instance of Mastodon with a large user base. The project has amassed users from all over the world since its creation. Some of its users include illustrators, anime fans, novelists, and music enthusiasts.
Over time, the project has evolved to become a place where users enjoy creative activities and unfettered communication. Till the time of its acquisition, Panwoo possesses over 800 thousand registered users. As revealed, the acquisition of the project by the Mask team marks a milestone in its goal of building a decentralized social network and a free, open internet.
Mask network aiming to aid easy transition to web3
Notably, Mask network was founded in 2017 by young scholars who believes in a truly free and transparent internet. The Mask team seeks to aid easy transition from Web 2.0 to Web 3.0. The main aim of the protocol is to build an easy-to-use bridge from Web 2.0 to Web 3.0 era decentralized apps. In addition, the Mask protocol usually support users with secure, decentralized social messaging as early as 2019.
Also, it provided its users with payment networks, file storage, and sharing on the current mainstream social media networks. Furthermore, the protocol has continuously maintained two of the most active instances of Mastodon, mstdn.jp and mastodon.cloud. In recent times, it also Mask collaborated with Mastodon core builder team and New York based design firm Lickability to build Mastodon’s first official app.
Additionally, the Mask team acquired tens of thousands of users so as to embrace the ownership economy and help build the next phase of decentralized social networks. To actualize this goal, the protocol also raised about US$50 million from private and institutional backers. In July 2022, the protocol also launched a US$42 million Bingire Union fund to actualize its vision of building decentralized social network ecosystem. Mask intends to invest the funds in decentralized social networks, infrastructure, and creative content.