Aave-Developed Lens Protocol Raises $15M to Expand 'Social Layer' of Web3

2 years ago

Lending protocol Aave's decentralized social-media platform, Lens Protocol, has raised $15 cardinal successful backing from a radical of high-profile investors.

IDEO CoLab Ventures led the backing round, which included General Catalyst, Blockchain Capital and Palm Tree, according to an emailed announcement. Uniswap CEO Hayden Adams, OpenSea co-founder Alex Atallah, entrepreneur Balaji Srinivasan and Polygon co-founder Sandeep Nailwal joined the circular arsenic angel investors.

Polygon blockchain-based Lens serves arsenic a level for users to physique applications from a azygous non-fungible token (NFT)-based level that stores their posts, followers and content.

"By putting ownership and societal superior into the hands of people, Lens aims to alteration the mode we make value, stock and monetize connected the internet," Lens said.

Lens plans to usage the funds rise to proceed the enlargement of its ecosystem, which was unveiled by Aave successful February past year.

Edited by Sheldon Reback.

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