Joseph Lubin, known for co-founding Ethereum and leading Consensys, recently revealed that MASK, the anticipated altcoin associated with MetaMask, will soon debut. His announcement emphasized MASK’s role in enhancing the decentralization efforts related to MetaMask.
What is the Future of MASK Coin?
MASK’s development signifies a step toward decentralizing the Ethereum ecosystem, a vision closely tied to MetaMask, Infura, and Linea’s services. Lubin articulated this strategy during The Crypto Beat podcast, noting that the coin is a vital element in this movement.
The concept of a community-owned MetaMask took root in 2021, sparked by engineer Erik Marks. His suggestion envisioned a native coin facilitating community engagement. This was later reinforced when MetaMask co-founder Dan Finlay confirmed that any coin announcement would be made through the wallet itself.
Consensys executed a similar token release for the Linea network earlier this year, which involved disbursing 9.36 billion LINEA coins. Consensys retained 15% of these, while the rest supported developers, liquidity, and user incentives. A parallel distribution method is projected for MASK.
Why is SharpLink Gaming Relevant?
In his podcast appearance, Lubin also touched upon his role as chairman at SharpLink Gaming, an Ethereum treasury firm. He disclosed a decline in SharpLink’s market net asset value to 0.80, with companies like Bitmine and MARA facing similar challenges.
SharpLink, under the guidance of CEO Joseph Chalom, is prioritizing the “shares per ETH” metric, which showed an increase from 2.0 in June to 3.95 by mid-September. To bolster its financial position, SharpLink may consider share buybacks.
“Our ETH holdings are strategically important, and we continuously assess our capital strategies to ensure long-term growth,” said Chalom.
With a current holding of approximately 836,710 ETH, SharpLink stands as the world’s second-largest institutional Ethereum holder.
