THELOGICALINDIAN - Nonfungible tokens will be acclimated to administer user profiles and content
The aggregation abaft the DeFi belvedere Aave has launched the testnet for Lens, a amusing media agreement that relies on NFTs for abstracts management.
Lens Will Promote User Data Ownership
Today’s announcement describes Lens as a amusing media belvedere “powered by NFTs, so you own and ascendancy all of your content.”
For end users, the acquaintance will be agnate to acceptable amusing media. However, assertive abstracts such as user profiles and addict relationships will be represented by non-fungible tokens.
This will acquiesce users to monetize and advisedly administer those pieces of data. For example, users can authority assorted contour NFTs in a crypto wallet, advertise NFTs that represent addict relationships, or administer DAO voting by alive with addict NFTs.
Furthermore, users will be able to actualize assorted “publications” such as posts and comments. Users can additionally actualize mirrors of content, which assume to be agnate to retweets on Twitter.
Though advertisement abstracts will be stored on-chain, the agreement will additionally abutment IPFS hosting for the off-chain accumulator of ample files such as videos, music, and images.
Lens Protocol is additionally announcement its appearance to developers, calling itself a “composable and decentralized amusing graph” that “makes architecture a Web3 amusing belvedere easy.”
Relationship With Aave and Polygon
Lens Agreement has abutting ties with Aave, a arch DeFi agreement and crypto lending belvedere with $11 billion absolute amount locked.
Aave acknowledged Lens today, advertence that Lens is fabricated by the “by the dev aggregation who brought you the Aave Protocol.”
Aave architect Stani Kulechov additionally accepted that the “Aave fam launched the Lens Protocol” and has afflicted his figure to the Lens logo. Kulechov was additionally one of the aboriginal to adumbration at the abstraction of the amusing arrangement agreement as aboriginal as January 2021.
Despite those connections, Lens does not arise to be congenital anon on Ethereum, as Aave is. Rather, it is congenital on top of Polygon, a second-layer arrangement for Ethereum acclaimed for its low-energy consumption.
Aave itself has ahead formed with Polygon. In March 2021, Aave formed with Polygon to abstain bottleneck on Ethereum. In April 2021, the two projects partnered to action liquidity mining rewards.
Disclosure: At the the time of writing, the columnist of this allotment endemic ETH and added cryptocurrencies
