Aave's Lens Protocol Raises $15 Million, Paving the Way for a Decentralized Social Internet

Building the Decentralized Social Web

Lens Protocol has successfully concluded a funding round, securing $15 million in investment. The protocol, developed by Aave Companies, focuses on creating a user-owned social layer for the Internet. The funding will be utilized to further advance the Lens ecosystem, which aims to benefit users, creators, and builders within the web3 community.

Leading the funding round was IDEO CoLab Ventures, with notable participation from General Catalyst, Variant, Blockchain Capital, and Palm Tree, among others. Prominent venture capitalists such as A. Capital, Seed Club Ventures, Robot Ventures, as well as DAOs like Flamingo DAO, DAOJones, Punk DAO, DAO5, and Global Coin Research also contributed. Additionally, key angel investors, including Hayden Adams (CEO of Uniswap), Alex Atallah (Co-founder of OpenSea), Balaji Srinivasan (Entrepreneur), Sébastien Borget (Co-founder of Sandbox), Emily Yang (pplpleasr), Denis Nazario (Mirror.xyz), and Sandeep Nailwal (Co-founder of Polygon), supported the funding round.

The demand for an open, decentralized social layer has become increasingly apparent, as it fosters a more diverse and creative internet experience. By leveraging underlying technologies such as blockchain, smart contracts, decentralized storage, and NFTs, Lens Protocol reimagines the web as a decentralized app ecosystem. 

The founder of Lens Protocol, Stani Kulechov, expressed the vision behind the project, stating, "Our vision at Lens is to accelerate the adoption of the next generation of the internet powered by human connection – the people-powered social layer." Lens aims to empower individuals by preserving digital identities and enabling portability across applications.

With the completion of its funding round, Lens Protocol is poised to continue driving innovation and reshaping the future of social networking.

What is Lens Protocol: 

Developed by Aave Companies, Lens Protocol is a web3-based platform that empowers users to retain ownership of their digital identity, activities, and relationships. By leveraging an open technology stack, developers can build social interfaces or integrate Lens social features into their existing web3 applications. Lens was launched in May 2022 and is currently in beta. Over 100 custom applications have already been built on Lens, demonstrating the protocol's versatility. 

Where to find Lens Protocol:

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