Popular crypto market marker and Web3 firm, DWF Labs has entered into a strategic partnership with a renowned decentralized social protocol, Mask Network. In a Wednesday blog post, DWF Labs confirmed the development, stating that the partnership would oversee the development of decentralized infrastructure for Web3.

According to the post, the decentralized social protocol has been working around the clock to develop tools that empower users to seamlessly access the Web3 experience. Some of these Web3 experiences include encrypted messaging, NFTs, and decentralized finance.

Over the last three years, Mask Network, through its venture arm, Bonfire Union and global grants programs, has actively supported the growth of more than 100 projects in the realms of Web3 social, infrastructure, and creative content. As revealed, these investment were aimed at making Web3 more accessible to users .

With a global presence as a market maker and Web3 investor, DWF Labs has uniquely positioned itself to support foundational infrastructure projects like Mask Network. DWF Labs, in the post, further revealed that the partnership aligns with its mission of accelerating the adoption of permissionless, compostable technologies that unlock value for users and builders worldwide.

The managing partner at DWF Labs, while reacting to the partnership described Web3 social as the foundation for a more open and user-owned internet. Grachev added that Mask Network has continuously demonstrated both vision and execution in the Web 3 social space. The exec further highlights the firm’s dedication to supporting Mask Network’s efforts in broadening access to decentralized technologies, empowering creators, and pioneering the future of digital interaction.

DWF Labs acquires $5 million $MASK token

In line with the partnership, DWF Labs also made a strategic investment move of acquiring $5 million worth of $MASK tokens. As revealed, this acquisition also signifies the market maker’s commitment to the growth of the decentralized social layer and the broader Web3 ecosystem.

Suji Yan, the founder of Mask Network, while reacting to the partnership also noted that DWF Labs offers valuable contributions beyond just financial support. Yan stated that the market maker creates the pathways to global connectivity, ecosystem depth and a long-term mindset.

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