The good news of Web3 will continue to be spread until it completely evolves and becomes a blown reality, having fully been integrated into all spheres of our internet-based engagements. Web3 is a transition from a mainstream internet platform to an era of immersive and borderless age of interconnectedness.
The complexities of technology and the ease it brings to life have made it somewhat impossible to do without in our daily experiences. As Facebook transformed to Meta, and Google hastens its advancement to meet current technology expectations, Aave amongst others is not just watching from the sidelines.
Aave is a fully decentralized, community-governed protocol with 110,463 token holders. The Software development company Aave launched its Web3 social platform powered by NFTs which aims to provide a viable alternative to traditional social media platforms.
The Web3 project named Lens Protocol is an open-source tech application built with Web3 recommended algorithms and marketplace modifications.
Social media over the past few years has remained relatively unchanged even with the advancement in technology and the rise in internet and smartphone usage. The reasons are no other than the monopoly and centralised nature that has been sustained for this long. Kulechov in a statement said “Elon Musk’s bid to purchase Twitter shows people are ready for a better experience”
The Aave CEO Stani Kulechov in an interview with Blockworks said
“Lens will be the infrastructure that will give rise to the golden age of Web3 apps. For the first time since the advent of the internet, people can finally own their accounts and all of their content without an intermediary”
In a Feb. 5 tweet, the CEO predicted that Web3-native social media will “kill” Twitter.
Lens unlike the conventional social media platforms gives users’ the
power to control how their content is used and also to own and monetize their content. Followers, community and content of each user can be linked to their NFT (non-fungible token) profile — which can be ported into any app powered by Lens.
Roughly 50 applications have been built on Lens so far, including social apps and creator monetization tools and also able to mint their profile to begin interacting with the first protocol-powered apps on Polygon.
Web3 is here to democratize the internet, giving room to more diversified, engaging and people-oriented social platforms that will not only empower its users with cutting-edge technologies and experiences but also provide an opportunity for people to earn a living.