Aave Launches Social Media DApp Platform on Polygon

Aave Launches Social Media DApp Platform on Polygon

Aave (AAVE) has announced a new project called Lens Protocol focused on helping developers build decentralized social networking applications (DApps) on the Polygon blockchain.

In addition to social media DApps, the creators of the Liquid Market Protocol intend to use non-fungible token technology (NFT) with Lens’ open-source blockchain technology to allow developers to build marketplaces, recommendation algorithms, and other applications. According to Aave, this will allow users to fully own their data and provide creators with new monetization opportunities.

The Lens protocol allows users to have a single Lens profile that can be used across multiple DApps on the Lens platform. With this, users able to create Lens NFT profiles will be able to access 50 applications that will be launched on the Lens protocol. To facilitate the creation of more apps on Lens, Aave has also created a $250,000 grant program to fund developers who want to build apps on the platform.

Stani Kulechov, CEO and founder of Aave Companies, believes that people are ready for a new social networking experience, as the reaction to Elon Musk’s acquisition of Twitter showed. Kulechev explained:

“The social media experience has remained relatively unchanged over the past decade, in large part because your content is entirely owned by one company, which locks your social media into one platform.”

Aave’s CEO also noted that ownership of content created online is “long overdue.” Additionally, Polygon co-founder Sandeep Nailwal agreed with Kulechov, saying that Polygon fits with Lens’ goal of promoting “secure content ownership.”

In April, Kulechov was banned from Twitter hours after he joked on Twitter that he would be joining Twitter as interim CEO. The next day, the ban was lifted when Kurechev tweeted another joke that he was back as interim CEO of the company.

Aave (AAVE) has announced a new project called Lens Protocol that focuses on helping developers build social networking decentralized applications (DApps) on the Polygon blockchain.

In addition to social media DApps, Liquid Market Protocol creators aim to use non-fungible token (NFT) technology along with Lens’ open-source blockchain technology to allow developers to create marketplaces, recommendation algorithms, and other applications. According to Aave, this will allow users to fully own their data and provide creators with new monetization opportunities.

The Lens protocol allows users to have a single Lens profile that can be used by various DApps within the Lens platform. With this, users able to create Lens NFT profiles will be able to access 50 applications that will be published on Lens Protocol. To further create more apps on Lens, Aave has also created a $250,000 grant program to fund developers who want to create apps on the platform.

Stani Kulechov, CEO and founder of Aave Companies, believes that people are ready for a new social media experience, as evidenced by the reaction to Elon Musk’s acquisition of Twitter. Kulechev explained:

“The social media experience has remained relatively unchanged over the past decade, and much of that is due to the fact that your content is entirely owned by one company, which locks your social network into one platform.”

The Aave CEO also noted that ownership of content created online is “long overdue.” Additionally, Polygon co-founder Sandeep Nailwal agreed with Kulechov, saying that Polygon fits Lens’ goal of supporting “secure content ownership.”

related: Spotify reportedly testing NFT galleries on musician profiles

Back in April, Kulechov was banned from Twitter hours after he joked on Twitter that he would be joining Twitter as interim CEO. The next day, the ban was lifted as Kurechev tweeted another joke that he was back as the company’s interim CEO.

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