Coinspeaker
Masa Network Raises $8.75M from CoinList’s Community Sale of MASA Tokens
Masa Finance, a fast-growing incentivized and privacy-by-default economy for global personal data, announced the completion of an oversubscribed MASA token community sale on the CoinList platform. According to the announcement, the MASA token community sale sold out in 17 minutes, thus indicating the notable potential for the decentralized personal data network. Masa Finance had initially allocated 63,554,660 MASA tokens, worth about $5 million, for the community sale.
However, Masa Finance ended up allocating an additional community sale, worth about $3.7 million. As a result, Masa Finance managed to raise a total of about $8.75 million through the community token sale.
Remarkably, only 3,285 registered users out of 52,606 registrants, representing about 6 percent, managed to get involved in the MAA token community sale.
Meanwhile, the successful buyers will first receive 25 percent of their purchase after the MASA token is listed on centralized exchanges. According to the company, the MASA token will be listed on several centralized exchanges in four weeks. The remaining tokens will be released to the respective users in a six-month linear vesting period.
“The overwhelming response to our community sale reaffirms our community’s trust in Masa’s vision. In the new AI era, data is the new oil. Users deserve to own, share, and earn from their data,” said Calanthia Mei, the Co-founder of Masa Network.
Masa Network and Market Picture
Amid the mass adoption of artificial intelligence (AI) and decentralized global technology through blockchain, the Masa network team is aggressively developing the necessary infrastructure. The MASA token is a multichain project that is mainly used for governance purposes and facilitating gas fees.
At launch, the MASA token will be available on the BNB Smart Chain, Ethereum mainnet via ERC-20 standard, and Avalanche subnet. However, the Masa network plans to expand its token to other networks including Polygon (MATIC), Coinbase-backed Base, and Celo, among others in the near term.
In a bid to supply AI developers with privacy-protected data through Zero Knowledge technology, the Masa network has partnered with different web3 protocols including Injective, QuickSwap, and ZkSync, among others. Moreover, the Masa network enables anyone with internet accessibility to contribute their data and earn passively through the MASA tokens.
The Masa network will be competing with other similar projects like Worldcoin (WLD) that have already obtained market traction in the recent past. Furthermore, major technology companies – led by Microsoft Corporation (NASDAQ: MSFT) through OpenAI – have heavily invested in the AI space and decentralized blockchain is the way to mass-train the models.
Nonetheless, the Masa network is well prepared to gain market share as it currently has 1.3 million unique wallets and over 33 million proprietary data points. Launched in August 2022, Masa Network already raised more than $9.2 million in funding from strategic investors led by DCG, Anagram, and GoldenTree, among others.
It’s also worth mentioning that this community sale was the last one with the queue. It was announced by CoinList CEO Raghav Gulati via X. According to him, new sale types will be revealed soon.
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Masa Network Raises $8.75M from CoinList’s Community Sale of MASA Tokens