Quick take:
- The community sale was oversubscribed by 6.4 times, the company said.
- Only 3,285 out of 52,606 registrants successfully acquired tokens from the initial allocation.
- Successful buyers will receive 25% of their tokens when the MASA lists on centralised exchanges in April.
Masa Network, a zero-knowledge proofs-based data marketplace has completed an $8.7 million token sale on Coinlist. The community sale attracted 52,606 registrants, but only 3,285 successfully acquired the token from the initial allocation.
According to the announcement, the initial allocation of 63,554,660 MASA Tokens sold out in just 17 minutes raising $5 million, with an additional allocation valued at $3.75 million also selling out.
Masa said the sale was oversubscribed by 6.4 times, with successful buyers set to receive 25% of their tokens when MASA lists on centralised exchanges in April.
Commenting on the successful community sale, Calanthia Mei, the Co-founder of Masa Network said in a statement: “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.”
Masa Network now joins a growing list of leading Web3 companies that hosted their community sales on Coinlist, including Solana, Filecoin, Algorand, Near, and Immutable X.
The MASA token acts as both the utility and governance token of Masa Network, facilitating transactions within the network, whilst also being used to vote on key decisions about the running of the network.
Masa’s zk-proof-based data marketplace enables users to manage their data. The platform also leverages privacy-protected data for AI developers, empowering them to train AI agents, AI models and AI-powered advertising on the data network.
This community sale follows the company’s $5.4 million seed round announced in January 2024. The company is backed by some of the top Web3 venture firms including Avalanche’s Blizzard Fund, Digital Currency Group, GoldenTree, OP Crypto, Unshackled Ventures, and PEER VC, among others.
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