The cost of the acquisition remains undisclosed but the new team will take over operations on Dec. 21, the blog post said.
STORY CONTINUES BELOW
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Mastodon has rapidly increased in popularity since Elon Musk took over Twitter in October. Musk controversially restricted users that promoted Mastodon and other social media websites, a decision that he admitted "was a mistake" during a Twitter spaces on Wednesday.
Mask Network, which said the acquisition will help build a "decentralized social network and a free, open internet," has raised almost $50 million from investors since its launch in 2017, according to Crunchbase.
The Mask Network's native token, MASK, is currently trading at $2.28 having dwindled by 1.08% over the past 24-hours, according to CoinMarketCap.