Aave (AAVE) has announced a brand new project known as the Lens Protocol, which concentrates on helping developers build social media decentralized applications (DApps) around the Polygon (MATIC) blockchain.
Aside from social networking DApps, the liquidity market protocol creators try to use nonfungible token (NFT) technology together with Lens’ open-source blockchain tech to permit developers to produce marketplaces, recommendation algorithms along with other applications. Based on Aave, this allows users to totally own their very own data and provide creators new monetization possibilities.
Lens Protocol enables users to possess a single Lens profile you can use through various DApps inside the Lens platform. With this particular, users who is able to mint Lens NFT profiles can connect to the 50 apps that’ll be released on Lens Protocol at launch. To help the development of more apps on Lens, Aave also produced a grant program worth $250,000 to finance developers who would like to create applications around the platform.
Stani Kulechov, Chief executive officer and founding father of Aave Companies, believes the individuals are ready for any new social networking experience, as shown by reactions to Elon Musk’s bid to purchase Twitter. Kulechov described:
“The social networking experience has continued to be relatively unchanged during the last decade, and far of this is a result of your articles being exclusively of a business, which locks your social networking within one platform.”
The Aave Chief executive officer also noted that possession over content produced on the internet is “lengthy past due.” In addition, Sandeep Nailwal, the co-founding father of Polygon, agreed with Kulechov’s notion and stated that Polygon aligns with Lens’ objective of powering “secure content possession.”
Related: Spotify apparently tests NFT galleries on music performer profiles
In April, Kulechov was banned from Twitter hrs after jokingly tweeting that he’ll be joining Twitter since it’s interim Chief executive officer. The ban was lifted the following day as Kulechov tweeted another joke stating that he was back because the interim Chief executive officer of the organization.