Aave Launches New Social Media Using an Open-Source Platform on Polygon

Aave (AAVE) unveils the Lens Protocol, a new project aimed at assisting developers in the creation of social networking decentralized apps (DApps) on the Polygon (MATIC) blockchain. Aave, the software development company, introduced the Web3 social platform, which is powered by NFTs and seeks to be a replacement for traditional social media platforms. The open-source tech stack, Lens Protocol, will allow developers to create Web3-powered social media apps, marketplaces, and recommendation algorithms.

According to Aave CEO Stani Kulechov, social media has remained essentially unaltered over the last decade since user data is owned by a firm. Elon Musk’s proposal to buy Twitter demonstrates that people are ready for a better experience, he said.

Kulechov said:

“Lens will be the infrastructure that will give rise to the golden age of Web3 apps. “For the first time since the internet has been born, people can finally own their accounts and all of their content without an intermediary.”

“The social media experience has remained relatively unchanged for the last decade, and much of that is due to your content being solely owned by a company, which locks your social network within one platform.”

The Aave CEO also stated “long overdue” control of online content. Sandeep Nailwal, the co-founder of Polygon, agreed with Kulechov’s point of view and stated that Polygon is aligned with Lens’ purpose of enabling “secure content ownership.”

The protocol connects each user’s followers, community, and content to their NFT (non-fungible token) profile, and it can be integrated into any Lens-powered program.

Aave stated Wednesday that signers of the Lens open letter will be able to mint their profile and begin interacting with the first protocol-powered apps on Polygon. So far, about 50 apps have been developed on Lens, including social apps and creator monetization tools.

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