Aave, the team that has created the Defi liquidity protocol, is looking for alternatives to how social media platforms function.
This new platform is called the Lens Protocol. It is built on the Polygon blockchain and serves the function of “a permissionless, composable, and decentralized social graph that makes building a Web3 social platform easy”.
The Lens Protocol seeks to combine the best feature from current social media platforms while empowering customers. The protocol will have profiles, comments, and the ability to share posts but will be powered by NFTs, which gives people the ability to own their content.
Anything from a person’s social media history to posts and comments can be minted into an NFT when the owner desires to do so. Stani Kulechov, founder and CEO of Aave, has been hinting at this new decentralized platform for a while and has made the bold prediction that it will “kill” Twitter and other similar platforms.
According to the official letter coming from the company, “We spend time building unique selfhood across these Web2 media platforms, even though we know they are antiquated, centralized systems.” This is a sign that “Web3 brings forth a renewed hope for what social media can be. It offers the ability for us to control how our content is used.”
The Aave team has not specified a date for the upcoming launch. Still, more than a quarter-million dollars have been given as a grant program, and many investors are eager to jump into this new exciting opportunity.
