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Aave Corporations, the tech firm that develops protocols and functions that incorporate decentralization and blockchain applied sciences, has raised $15 million in seed funding for its web3 social layer, Lens Protocol.
The seed spherical was led by IDEO CoLab Ventures with participation from Normal Catalyst, Variant, Blockchain Capital, Palm Tree A. Capital, Seed Membership Ventures, and Robotic Ventures. The spherical additionally noticed investments from DAOs reminiscent of Flamingo DAO, DAOJones, Punk DAO, DAO5 and International Coin Analysis.
Angel buyers embrace distinguished web3 figures reminiscent of embrace Uniswap CEO Hayden Adams, OpenSea co-founder Alex Atallah, entrepreneur Balaji Srinivasan, The Sandbox co-founder Sébastien Borget, Emily Yang (pplpleasr), Denis Nazario (Mirror.xyz) and Polygon co-founder Sandeep Nailwal, amongst others.
Lens Protocol was launched in Feb 2022 as a web3 social graph that any software can plug into and construct on to “personal the hyperlinks between themselves and their group.”
Leveraging blockchain, good contracts, decentralized storage, and NFTs, Lens Protocol creates a social ecosystem of decentralized functions. Customers can entry these apps via a unified profile as a substitute of managing a number of logins throughout totally different web sites. This profile homes the consumer’s knowledge, reminiscent of their social connections, followers, and the digital property they generate, spanning texts, photos, movies, and extra, and customers can absolutely personal and handle their knowledge.
“We imagine consumer empowerment will lead us again to the open internet, with the addition of ubiquitous social experiences, numerous content material, novel monetization fashions and worthwhile new companies that share income equitably with customers and creators,”
Stani Kulechov, founding father of Lens Protocol, stated in an announcement.
In accordance with Lens Protocol, profiles, actions and followers are saved on decentralized storage and moveable from one software to a different, permitting creators to ascertain direct relationships with their followers and develop efficient engagement and customized monetization methods. In January, Lens Protocol unveiled a brand new characteristic known as Gated Publication, which permits builders utilizing its API to token-gate their content material.
In accordance with Dune Analytics knowledge, there are a complete of 117,858 profiles created and over 20 million transactions on Lens Protocol
Initially launched expertise stack with no front-end shopper, the Lens ecosystem has quickly expanded into an ecosystem that now encompasses third-party social networks leveraging the open knowledge layer supplied by Lens.
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