- The Mask Network’s official website states it can inject decentralization into Web 2.0 platforms
- Mask can also enable trade of crypto assets and NFTs on platforms like Twitter
- The MASK crypto is the token used for voting on critical governance issues of the Mask Network
Can Web 3.0 (Web3) replace the existing Web 2.0? The latter, the backers of Web3 claim, reels from unjustified dominance of tech giants. The newer version, Web3, might make the internet decentralized with powers distributed among users.
But what if a project claims to reinforce the Web 2.0 ecosystem with decentralized features, without having to migrate completely to Web3? One such platform is the Mask Network, which might decentralize existing platforms like Facebook and Twitter by a simple browser extension.
Let’s know more.
What is Mask Network?
The primary offering of the project is encryption of messages sent through popular social media sites. On its official website, Mask claims that by simply adding it as an extension to the browser, Web 2.0 websites like Twitter can be injected with Web 3.0 attributes.
The project further claims to be an enabler in the fields of decentralized finance and non-fungible tokens (NFTs). The Mask Network can help users to trade NFTs on social networks, for which the project uses the services of OpenSea.
Mask can enable trading of cryptos in a DeFi style network, besides helping launch new blockchain-based assets directly on Twitter, according to the official website of the project.
Like most other blockchain projects, the Mask Network is also a decentralized autonomous organization or DAO. For this, the MASK crypto acts as the project’s governance token. The network claims it is free for users, besides being open source. This means MASK crypto might have no use in fee payment.
MASK crypto’s price
The MASK crypto has yet to become a high market cap crypto asset, but with over US$175 million in market cap, it still makes a cut to the top 300 cryptos list of CoinMarketCap. As of now, the MASK crypto is trading at nearly US$6.
MASK crypto’s price prediction
The Mask Network claims to have a unique ability to bridge the gap between the two versions of the internet. If Mask can truly infuse decentralization in Web 2.0 platforms like Twitter, the linked MASK crypto may gain.
The price of the MASK crypto hovered in double-digit territory at the beginning this year, but it mirrored the same plunge that marred most other cryptos due to factors like impending rate hikes by central banks and a sell-off in riskier assets like stocks.
If the Mask Network can find users for its browser extension service and if it can help users trade cryptos and NFTs over regular social media platforms, the MASK crypto may surge in demand, which may lead to the price reaching nearly US$20 by the end of 2022.
Data provided by CoinMarketCap.com
The Mask Network has an interesting utility. While other blockchain platforms want to become a key player in Web3, Mask is envisaging a bridge between the centralized and decentralized versions of the internet. The price of the MASK token remains an interesting watch.