Hi, I’m Michael. And this is Crypto Creatives. The best newsletter about the Crypto Creator Economy. If you’re new here, consider subscribing. 1-2 free emails a week.
The Lens Protocol is paving the way for Web3 social media. It’s a composable, decentralized social graph. And the best part?
Anyone can build on it.
There are 2 parts to building a social media platform. And it handles the hard one:
Front end - what users see (example: when you write a tweet on the web app)
Back end - the code that makes it all work (storing & serving content, etc)
The Lens Protocol basically handles the backend & empowers anyone to build the front end. Now, it’s up to developers to find interesting ways to curate and display user-created content.
The protocol is built on top of Polygon - an Ethereum Layer 2 with low fees and an amazing development team. This makes the Lens Protocol feasible with cheap & fast transactions. Plus, it’s environmentally sustainable.
The project is in good hands considering the team behind Aave is building it.
But what does this actually mean for creators?
True Digital Ownership
The Lens Protocol creates the opportunity for true ownership of your digital life:
Own your identity - users own their lens domain which can work on multiple platforms. Check if you’re eligible here.
Own your content - everything you post is an NFT that belongs to you.
Own your relationships - get a ‘follow NFT’ when you follow someone. Burn it to unfollow them.
Own your data - the protocol is community-owned. But your data belongs only to you.
Own your consciousness - our time on earth is limited. And we all spend a good chunk of it on social media where most of it is owned by a corporation. Not anymore.
For the first time in digital history, Creators will own what they create.
Why This Changes Everything
Technology that changes the world encourages the next generation. It’s not only possible to build on top of it. But it’s encouraged. In this way, the Lens Protocol follows in the footsteps of Ethereum.
This ensures the best inevitably rise to the top.
It’s impossible to predict the future. But I’d be surprised if the Lens Protocol isn’t a big part of the Web3 Creator Economy.
You can learn more about it here.
Looks like a direct competitor of DeSo blockchain, the one behind BitClout and Diamond.