Aave Companies Updates Web3 Social Media to Lens V2 Protocol

Lens Protocol, a blockchain-powered social media platform from Aave Companies, has launched v2, its latest update, delivering a variety of crypto-centric features and expanding social media functionality in the ecosystem Web3.

Lens Protocol V2 – the next chapter in the evolution of Lens. V2 offers even greater control to builders and integrators as well as people exploring Web3-based experiences.

Lens V2 retains its characteristic open design space that leaves the choice open to developers and integrators.

— Lens Protocol (@LensProtocol) July 17, 2023

Lens Protocol founder Stani Kulechov shed light on the prospects for the upgrade. The latest version, he said, “V2 enables new types of social engagements and monetization relationships, where all stakeholders can share the value of social media – both individually and collectively as ‘ecosystem”.

The on-chain user blocking feature is unique to the V2 update, similar to what users can find on Twitter and other Web2 platforms. This feature ensures blocked accounts cannot interact, comment, or use crypto-specific Lens features. These include ‘mirror’, the platform’s version of retweeting, which allows users to share and monetize content, and ‘collect’, a tool which allows users to store content as NFTs on Lens.

The new Lens Protocol update also features more advanced crypto-native actions, providing opportunities to embed activities such as joining a DAO or contributing to public goods directly into various content types:

Here are some of the types of open actions you can create.

🤝 Follow (directly on post)
💿 Mint external NFTs directly on lens
💳 Buy and sell ERC-20 or NFT
🫡 Join a DAO
👾 Buy a land of @decentraland
💰 Donate with @gitcoin

Imagine the possibilities…

— Lens Protocol (@LensProtocol) July 17, 2023

User profiles on the platform have changed from ERC-721 NFTs to the ERC-6551 standard, more closely resembling the characteristics of a crypto wallet. Users can now buy, sell and store cryptocurrency in their profile, going beyond the previous functionality of standard digital collectibles.

The Lens Protocol V2 update is a significant step forward in decentralized social media, clarifying social media’s trajectory towards a more crypto-centric approach in the Web3 landscape. With a mix of familiar and new features, Lens Protocol is set to reshape the social media experience on the blockchain:

“By giving makers, apps, and integrators maximum flexibility to create the use case and customer experience they envision.”