Bonfire Union will launch its second fund, with a total fundraising amount of 100 million dollars for both funds

ChainCatcher news, the decentralized social network protocol Mask Network (Mask) announced the launch of its second fund under the venture capital arm Bonfire Union. Since its establishment in 2022, the total fundraising amount for both funds has reached $100 million.

The goal of Bonfire Union is to strategically invest in decentralized social networks and infrastructure. So far, over 120 projects have joined the Mask Network ecosystem under Bonfire Union, including some of the fastest-growing Web3 projects such as RSS3, Lens, and Scroll.

Mask Network founder Suji Yan stated, "Mask Network has been actively contributing to and supporting the decentralized social network community through a series of grants and donations. With the new fund, more initiatives can receive our support."