Aave continues the development of its Lens Protocol ecosystem thanks to the acquisition of the mobile metaverse Sonar. It thus joins the panel of Web3 social network applications offered by Lens.
Aave Companies Acquires Sonar
The diversification of Aave’s activities in social networks is no secret and this is embodied through Lens Protocol. Aave Companies, the company in charge of developing the ecosystem, has just reaffirmed this ambition with the acquisition of Sonar :
The Aave Fam is growing! It’s no secret that our team has been innovating in social media, with Lens Protocol to bring power back to users, right where it belongs.
To continue our mission, we’re thrilled to announce the acquisition of @Sonara mobile-first metaverse. pic.twitter.com/qlRTUFq1SO
— Lens Protocol 🌿 (@LensProtocol) December 5, 2022
Launched in 2020 and available on iOS, Sonar is intended as a mobile metaverse. Stani Kulechov, the founder of Aave showed his enthusiasm for the arrival of this project in the Lens ecosystem:
“We are excited to have the Sonar team join our Lens team to accelerate our social media and mobile apps strategy. »
To date, Sonar’s flagship product is a collection of non-fungible tokens (NFT) called “Moji”. Mojis represent 3D emojis, which serve as avatars in Sonar games. According to OpenSea, the activity of this collection has also benefited from the announcement with 51 sales in total during the day on Mondaywhereas this value rarely exceeded two units per day until then.
👉 To go further – Find our guide on the AAVE token
The reference platform to buy and trade more than 600 cryptos
10% off your fees with code SVULQ98B 🔥
A growing ecosystem
After six months of closed beta, Lens Protocol already claims over 105,000 user profiles and over 7.8 million gasless transactions. Sonar must join the range of applications that revolve around Lens Protocol, such as Lenster, Lenstube or Lensta for example, each with their own specificities.
Owners of a Moji NFT can also create their Lens profile for the next 14 days to join and discover the ecosystem.
For its part, the founding team of Sonar will continue to work within the project. Randolph Lee, one of the co-founders, becomes principal engineer, for example, while his brother Ben South Lee assumes the role of vice-president of the “Products and Design” division. The latter was also proud of this new start:
“We love Aave’s approach to social media via Lens protocol. It became clear to us that all the foundations to really transform the way we connect online are there on Lens. »
So we see with this latest news that Aave continues to place his marbles, to become a mainstay of Web3, whose values are particularly important on the content creation dimension. On the decentralized finance aspect (DeFi), we can also highlight great progress, with in particular the imminent arrival of the GHO stablecoin, or the adoption of the protocol by traditional finance giants such as JP Morgan.
👉 On the same subject – Check out our interview with Marc Zeller on the latest from Aave
Join Experts and a Premium Community
Invest in your crypto knowledge for the next bullrun
Source: Lens Protocol
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Leave a Reply