Social Coop Limited is an entity associated with Mask Network. This protocol allows users to send encrypted messages across social media and allow for cryptocurrency transfers.
According to a blog post, Pawoo.net has been acquired by Social Coop Limited. Although the acquisition cost has yet to be disclosed, the blog stated that the new team would take over operations on Dec. 21.
Pawoo, a Japanese-based instance, is the second largest. This is an alternative term for an internet service provider on Mastodon, with approximately 800,000 users.
Since Elon Musk’s October takeover of Twitter, Mastodon has seen a rapid rise in popularity. Musk banned users who promoted Mastodon or other social media sites, which he acknowledged “was a mistake” in a Twitter space on Wednesday.
Crunchbase reports that Mask Network has raised nearly $50 million in investors since its 2017 launch.
According to CoinMarketCap, the native token of The Mask Network (MASK) is currently trading at $2.28 after falling by 1.08% in the past 24 hours.