Mask Network has announced a strategic restructuring of its MaskDAO ecosystem, spinning off Next.ID, Web3.Bio, and Firefly into independent entities.
Revealed in a February 21 blog post, the move is expected to enhance innovation, scaling potential, and independent funding opportunities for each project. The Mask Network team claims the move would help improve the projects’ tokenomics models and drive greater user adoption across its ecosystem.
Founded in 2017, Mask Network is known to build and invest in decentralized social networks and infrastructure with the aim of making Web3 more accessible to all. These projects all bring different aspects of this mission to life in different ways.
Next.ID is a decentralized identity protocol that allows users to maintain ownership and control over their data across platforms. Web3.Bio is a Web3-native LinkedIn alternative, integrating identities from Lens, Farcaster, and ENS to streamline decentralized reputation management. Firefly is a unified Web3 social interface, merging platforms like X, Lens, Farcaster, Gitcoin, and Snapshot for a seamless social experience.
With greater autonomy, these projects can now evolve independently, building dedicated user bases and expanding their ecosystems.
Mask Network founder Suji Yan compared the restructuring to Tencent’s model, where independent business units have driven significant growth across gaming, investments, and applications.
Beyond its core projects, Mask Network has also played a significant role in supporting decentralized social networks like Pawoo and Mastodon. It has funded some of the largest Mastodon instances and provided donations to aid its development. It has also worked on integrating decentralized messaging, payments, and file storage into social platforms like X. Notably, the platform has grown significantly, attracting tens of thousands of users and securing over $100 million in funding through its venture arm, Bonfire Union.
Meanwhile, The restructuring follows another significant shift in the Web3 and DAO space, as Eliza Labs’ AI-driven DAO, formerly known as ai16z, rebranded to ElizaOS. The change came after concerns from venture capital firm Andreessen Horowitz (a16z) over potential brand confusion.
Founder Shaw Walters framed the change as a strategic move to support global expansion and technological advancement.
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