Bitcoin Lightning Network infrastructure provider Mash has announced that it will completely cease operations effective May 17, 2024. Users were advised to withdraw all funds from the platform up to this point.
Tweeting out today because we're shutting down the current version of Mash. All products & services will stop working on May 17th, 2024 at 9am Eastern.
Please remove any funds that you have on Mash products as they will not be accessible starting on May 17th 2024. You can send…
— Mash (@getmash) May 7, 2024
To withdraw funds, users can resort to any crypto wallet that supports Bitcoin Lightning Network. The project team cited the following as examples: Cash App, Mutiny Wallet, Kraken Zeus, Breeze, ZBD, Phoenix.
Note that Mash is a developer of a payment system based on the “pay-as-you-enjoy” model (“pay for what you like”). The company's product is aimed at content creators.
In June 2022, the studio closed a $6 million seed round led by Castle Island Ventures. The latter's CEO, Nick Carter, commented:
According to the press release, the global goal of the project was to “remove barriers” to online content consumption. Specifically, this involves replacing subscription systems with Bitcoin infrastructure to eliminate intermediaries and make it more efficient.
One of the platform's capabilities was to preview content before purchasing it. It also offered a built-in crypto wallet for payments.
Source: Cryptocurrency
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