Aave Makes Web3 Social Bet With Lens Protocol Launch

Aave Makes Web3 Social Bet With Lens Protocol Launch

THELOGICALINDIAN - The opensource agreement lets users excellent their amusing profiles as interoperable NFTs

The aggregation abaft the arch DeFi activity Aave has launched Lens Agreement on Polygon. Users can now excellent a Lens Profile and activate interacting with added than 50 applications on the protocol. 

Lens Protocol Goes Live

Aave is acceleration bottomward on decentralized amusing media. 

Aave Companies has about launched Lens Protocol, an open-source tech assemblage that lets developers body decentralized amusing networking applications. Starting today, users can excellent a Lens Profile NFT and alpha interacting with added than 50 applications active on Lens’ accessible amusing graph. 

Lens lets creators own their amusing media abstracts and booty it with them beyond any appliance congenital application its applique set. Users can articulation their followers, community, and agreeable to their own NFT contour and anchorage them into any new app. When addition creates a Lens Contour NFT, they can use it to abundance all of the agreeable they accomplish and the relationships they accept with their audience. The aim is to accord creators buying of their agreeable behindhand of area it originated. 

Commenting on the launch, Aave Companies CEO and architect Stani Kulechov said:

“The amusing media acquaintance has remained almost banausic for the aftermost decade, and abundant of that is due to your agreeable actuality alone endemic by a company, which locks your amusing arrangement aural one platform.” 

Kulechov added that a about-face from the Web2 archetype of companies owning user abstracts appear self-ownership of user-created agreeable and amusing media profiles is continued overdue. “Empowering users is what Lens aims to achieve,” he stated.

Lens Protocol is congenital application the Ethereum ascent band-aid Polygon, acceptation creating NFT amusing profiles and publishing agreeable comes in at a almost low cost. Additionally, Lens maintains a low carbon brand acknowledgment to Polygon’s Proof-of-Stake validation mechanism. 

To advance the Lens ecosystem’s growth, Aave Companies has launched a $250,000 grants affairs to affair funds to projects and developers architecture Web3 amusing basement and high-quality frontend experiences. 

Reflections on Decentralized Social Media

Since Lens Protocol aboriginal launched its developer applique in February, the agitation surrounding how amusing media applications should be structured has become abundant added prevalent. Issues of chargeless accent and user freedom accept bedeviled the discussion, fueled abundantly by Elon Musk’s bid to take over Twitter for $44 billion. Crypto enthusiasts accept been absorption how Musk could accommodate blockchain into the amusing media giant, but contempo developments advance that the accord may not go through due to Musk’s apropos over bot accounts. 

Other arresting crypto choir accept additionally aggregate their thoughts on the abeyant for decentralized amusing media in the past. Vitalik Buterin said he thinks Ethereum “has to expand” above DeFi at a allocution in July 2021, abacus that the arrangement he helped actualize could become a decentralized login service. Sam Bankman-Fried, meanwhile, recently said that on-chain amusing media “has to appear eventually” in a altercation about how a decentralized adaptation of Twitter may look. Unlike Buterin, though, Bankman-Fried seems added absorbed in how decentralized amusing media will abound above Ethereum. Reflecting on the approaching of Web3 and amusing media aftermost year, the FTX CEO said that crypto amusing networking was “a massive opportunity” that altogether ill-fitted one of Ethereum’s top competitors, Solana.

Disclosure: At the time of autograph this piece, the columnist endemic ETH, SOL, and several added cryptocurrencies.