Mask Network (MASK): a platform for integrating Web3 tools into social networks

However, Mask Network's developers bridged this gap by introducing a platform that served as a bridge between Web3 projects and social media.

What is Mask Network?

Mask Network is a tool that integrates crypto services such as Web3 wallets and decentralized applications (DApps) into traditional media platforms, including social networks such as X and Mirror. The developers themselves state that Mask Network is "a portal to a new, open Internet."

The Mask Network team released its product in 2021, and since then, it has become one of the leading projects in its segment. In addition, the Mask Network app was the first wallet to be integrated into traditional social networks.

How is Mask Network used?

Despite the word "network" in the project name, the Mask Network platform is not a blockchain. Rather, the name itself reflects the project's philosophy, which is to integrate Web3 technologies into social networks.

Web3 tool Mask Network is a browser extension that can be integrated into social platforms X, Mirror, Minds, and others. The Mask Network web plugin has a built-in wallet for storing and sending cryptocurrency, allowing you to connect to various Web3 applications.

Mask Network brings Web3 features to social platforms such as:

• Setting NFT tokens as your avatars on social networks;
• Exchanging encrypted messages between users on supported platforms;
• Donating to other users;
• Decentralized file storage and sharing.

Mask Network also functions as a full-fledged multichain cryptocurrency wallet: it can connect to decentralized exchanges like Uniswap and PancakeSwap and trade non-fungible tokens (NFT) on marketplaces like OpenSea or Rarible.

Mask Network developers introduced their identity system, MaskID, which allows users to combine their social network accounts with their Web3 wallet addresses.

In addition, the Mask Network ecosystem includes D.Market, a platform with a catalog of decentralized applications (DApps) compatible with the project. Another element of the Mask Network ecosystem is a decentralized autonomous organization, MASkDAO, through which the platform community participates in the management and plays an important role in the project's development.

Mask Network token

In February 2021, the Mask Network team issued and listed its token under the ticker MASK. Despite the name, the token is unrelated to Tesla and SpaceX CEO Elon Musk.

The token itself was sold through the first-ever Initial Twitter Offering in the same month as MASK's launch.

Since the Mask Network platform is also characterized as a "network for exchanging encrypted messages," the project's name reflects that the transmitted messages can only be seen by the recipients, effectively "masking themselves from third parties."

The MASK token, which is in the ERC-20 format, was initially issued on the Ethereum blockchain platform. As of March 2025, it is also available as a BEP-2 token on the BNB Smart Chain blockchain and Polygon's Layer 2 (L2) network.

The MASK token is actively used in the Mask Network ecosystem and is endowed with the following functions:

1. Payouts of rewards as part of loyalty programs and promotions;
2. Participation in lotteries with payouts in USDC stablecoins;
3. Participation in Initial Twitter Offering (ITO) — a type of ICO (Initial Coin Offering or "initial token offering") that takes place on social network X;
4. Participation in the governance of the Mask Network: MASK token holders can vote for nominated applications, thus influencing the development of the ecosystem;
5. Access to special features and services of the Mask Network application (smart wallets, creation of social profiles, etc.).

Since listing on exchanges, the MASK token's value has declined by more than 88% and is $2.16 as of March 2025. The absolute price high (ATH) of the MASK token was recorded on the first day after listing in February 2021 at $97, which is almost 98% higher than the current value.

The Mask Network token has a capitalization of $216 million, and according to CoinMarketCap, the asset ranks 163rd in the overall cryptocurrency ranking. Currently, all 100 million existing tokens are circulating in the market. This means that no new tokens will be issued, and the supply will remain limited (unless the Mask Network community decides otherwise).

For now, the team's plans for the project's development are unknown, but Mask Network remains one of the main Web3 tools that users interact with on social networks.