Aave has launched a new project called Lens Protocol to enable developers to create decentralized social networking applications on the Polygon blockchain.
The Liquidity markets network is seeking to use non-fungible technology together with the Lens’ open-source blockchain for the developers to create marketplaces, recommendation algorithms, and other applications.
Lens Protocol will see users use a single lens profile that is functional via various decentralized applications within the Lens platform. Users can mint Lens NFT profiles to access the 50 apps released on Lens at the project’s debut.
Aave has established a grant program of about $250,000 to fund the developers wishing to create applications on the platform.
Aave Companies’ CEO, Stani Kuchelov, says that the ownership over the content created online was long overdue. He cites the recent move by Elon Musk to acquire Twitter as a sign that the world was ready for a different kind of social media experience.