- MASK Network has yielded nearly 6% gains for holders since February 7.
- MASK is leading the price rally of metaverse tokens like The Sandbox’s SAND, Decentraland’s MANA and Axie Infinity’s AXS.
- The protocol supports decentralized identities on social media platforms, bringing privacy benefits from web3 architecture to Facebook and Twitter.
MASK Network, a web3 protocol that aims to decentralize social media platform. MASK has yielded nearly 6% gains for holders overnight as metaverse tokens continue their rally in the second week of February.
The protocol recently expressed its support for decentralized identities on social media platforms like Facebook and Twitter.
Also read: Is it the right time to scoop up Bitcoin? A new BTC cycle begins
MASK Network leads rally of metaverse tokens
MASK Network is a web3 protocol that brings the privacy benefits of decentralization to social media platforms. The web3 protocol is focused on the decentralization of social media and identities on platforms like Facebook and Twitter.
Join #Web3SocialClub Vol. 12 for an informative session on decentralized identity.
— Mask Network (Bridge to Web3 @Mask.io) (@realMaskNetwork) February 7, 2023
Learn about DID infrastructures and application layers with @discoxyz & @NextDotID!
Exclusive perks: https://t.co/4b7Dgx5zOV https://t.co/G6ujxhgSUo
Crypto market participants consider MASK Network’s token MASK as a competitor for Dogecoin (DOGE) in its utility for crypto payments on Twitter. While Twitter is working on its crypto payment roll-out, MASK Network’s community believes the metaverse token will find utility and a boost in its adoption.
MASK has yielded 87.5% gains for holders over the past 30 days and 6% gains since February 8. Since Meta’s earnings announcement, the focus in crypto has shifted from altcoins and DeFi tokens to metaverse tokens like The Sandbox (SAND), Decentraland (MANA) and Axie Infinity (AXS), alongside newfound interest by traders in Artificial Intelligence.
SAND, MANA and AXS rank among the top 10 metaverse tokens by market capitalization. MASK has led the rally in these assets since the announcement of Twitter’s application for a payment license in the US.
While it remains to be seen whether MASK will be used for crypto payments on Elon Musk’s social messaging platform, the token has garnered interest of traders in the community.
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