Lens Protocol, the decentralized social media platform developed by Aave’s lending protocol, has successfully secured $15 million in funding from a prominent group of investors.
The funding round was led by IDEO CoLab Ventures and included notable participants such as General Catalyst, Blockchain Capital, and Palm Tree, as stated in an official email announcement. Additionally, angel investors like Hayden Adams, the CEO of Uniswap, Alex Atallah, the co-founder of OpenSea, Balaji Srinivasan, an entrepreneur, and Sandeep Nailwal, the co-founder of Polygon, also joined the round.
Lens Protocol, built on the Polygon blockchain, offers users a unique platform to construct applications using a single non-fungible token (NFT)-based system that securely stores their posts, followers, and content.
Lens expressed its vision, stating, “By empowering individuals with ownership and social capital, Lens aims to revolutionize the way we generate value, share, and monetize content on the internet.”
The raised funds will enable Lens Protocol to further expand its ecosystem, which was initially introduced by Aave in February of the previous year.