Social Coop Limited, an organization associated with Mask Network, a protocol that allows users to send encrypted messages and cryptocurrency transfers via social media, has acquired Pawoo. Pawoo is one of the largest instances/servers on the social networking site Mastodon, according to its blog.
The cost of the acquisition was not disclosed, but a new team will take over on December 21, the blog post said.
Japan’s Pawoo is the second largest instance (aka Internet server) at Mastodon, with about 800, 000 users.
Mastodon’s popularity has grown rapidly since Elon Musk took over Twitter in October, when Musk controversially imposed restrictions on users promoting Mastodon and other social media Web sites.
Mask Network, which Crunchbase said the acquisition would help create “decentralized social networks and a free, open Internet,” has raised nearly $50 million from investors since its launch in 2017.
According to CoinMarketCap, Mask Network’s proprietary token (MASK) is currently trading at $2.28, down 1.08% over the past 24 hours.