Joseph Lubin, co-founder of Ethereum $4,532 and CEO of Consensys, has publicly announced the upcoming release of MASK, an eagerly anticipated altcoin associated with the MetaMask platform. Lubin explained that this altcoin is directly tied to the decentralization efforts of certain parts of the MetaMask platform.
Launch Process for MASK Altcoin
During a discussion on The Crypto Beat podcast hosted by The Block, Lubin highlighted that Consensys is committed to supporting the decentralization of the Ethereum ecosystem. He noted that services like MetaMask, Infura, and Linea are being utilized towards this goal, with the introduction of MASK coin being an integral component of this initiative.
The concept of community ownership for MetaMask emerged back in 2021 when engineer Erik Marks proposed the potential of sharing the wallet with the community through a native coin. Last May, Dan Finlay, co-founder of MetaMask, confirmed that any potential coin launch would be announced directly through the wallet.
This year, Consensys undertook a similar process for the Linea network, distributing a total of 9.36 billion LINEA coins. Of this, Consensys received a 15% share, with the remainder allocated to developers, liquidity, and usage incentives. A similar approach is expected for the MASK coin distribution.
SharpLink Gaming’s Ethereum Treasury
In addition to his role in Consensys, Lubin serves as the chairman of publicly traded Ethereum treasury company SharpLink Gaming. During the podcast, he mentioned SharpLink’s current market net asset value (mNAV) has dropped below 1, currently standing at 0.80. Other crypto treasury firms like Bitmine and MARA find themselves in a similar situation.
SharpLink CEO Joseph Chalom stated that the primary focus of the company has been tracking the “shares per ETH” ratio, which climbed from 2.0 at the beginning of June to 3.95 by mid-September. In response, SharpLink plans to explore alternative means of capital increase through share buybacks if necessary.
Currently, SharpLink holds approximately 836,710 ETH, making it the second-largest institutional holder of Ethereum globally.
