<p>Lens Protocol is a blockchain-based open-source social graph designed to reshape social media concepts in the age of Web 3 and decentralization. It enables creators to own the connections between themselves and their communities, resulting in a fully user-owned social graph.</p><p>Lens was introduced in early 2022 and received a lot of attention in the crypto community due to its social networking product and the well-known <a href="https://twitter.com/AaveAave" rel="noopener noreferrer nofollow">Aave</a> team developing it. Familiarity working in its favor!</p><p>The protocol seeks to address significant flaws in the current social media environment. It does this quite successfully by gradually gaining a base of dedicated users from a Web 3-ready community.</p><h2 id="header-0">How does Lens Protocol work?</h2><p>When users make a profile, they're making a reusable NFT. This interactive NFT saves their content, comments, likes, and reposts. A wallet address is associated with their profile.</p><p><strong>Value for fans/creators:</strong></p><ul><li>Users can receive a tradable NFT for being a loyal fan of someone's publication</li><li>As a content creator, you can control who can view your publication</li><li>Creators can charge others a fee to access certain content.</li></ul><p>Lens Protocol relies heavily on modules (smart contracts with code that run under specific conditions). Users can access modules to add custom functionality to features like Follow, Collect, and References.</p><h2 id="header-1">Here's how to get started:</h2><ul><li>Create the Profile NFT</li><li>Follow and Post anything</li><li>Like what you see</li><li>Create and Collect a publication</li><li>Experience all the dApps</li></ul><p><strong>Some useful links if you want to join and experience Lens👇:</strong></p><ul><li>Users need an NFT Profile which can be bought on <a href="https://opensea.io/collection/lens-protocol-profiles" rel="noopener noreferrer nofollow">Opensea</a> using <a href="https://twitter.com/search?q=%24USDC" rel="noopener noreferrer nofollow">$USDC</a> or <a href="https://twitter.com/search?q=%24WETH" rel="noopener noreferrer nofollow">$WETH</a> on the Polygon Network</li><li><a href="https://claim.lens.xyz/" rel="noopener noreferrer nofollow">Claim</a> your handle and edit your profile</li></ul><p><strong>There are two dApps you should check out building on Lens:</strong></p><ol><li><a href="https://twitter.com/lensterxyz" rel="noopener noreferrer nofollow">Lenster</a> - <a href="https://lenster.xyz/explore" rel="noopener noreferrer nofollow">https://lenster.xyz/explore</a></li><li><a href="https://twitter.com/orbwagmi" rel="noopener noreferrer nofollow">ORB</a> – social media platform where users have ownership</li></ol><h2 id="header-2">What makes Lens unique?</h2><p>NFTs and modularity. The protocol relies heavily on establishing user profiles as NFTs.</p><p>As a system property, modularity refers to innovation, availability, and connectivity. The social graph of the Lens is open to all creators who want to propose and implement new features.</p><p>Because of these mechanisms and the lack of a central actor controlling information, new social media networks can emerge while preserving free speech. Something invaluable, I mean Elon Musk spent $44B trying to save free speech in Web 2.</p><h2 id="header-3">Lens Protocol Risks</h2><ul><li>Because blockchains frequently have limited on-chain storage capacity, not all content and NFTs can be stored on this level and must be stored offchain.</li><li>The storage issue is inextricably linked to security concerns. Original files may be lost or damaged if not recorded on a blockchain.</li><li>There is also a risk of smart contracts and NFT maintenance because there are several scenarios in which hackers can attack networks.</li></ul><h2 id="header-4">Will Lens Protocol have a token?</h2><p><a href="https://twitter.com/search?q=%24LENS" rel="noopener noreferrer nofollow">$LENS</a> does not exist at the moment. But the protocol is compatible with wallets like MetaMask, Gnosis Safe, and Argent, allowing for interoperability.</p><p>There are numerous areas to explore within the Lens ecosystem, including:</p><ul><li>Social media</li><li>Creator monetization</li><li>Curation</li><li>Community tools</li><li>Analytics</li><li>Algorithms</li><li>DAO tooling</li><li>Developer tooling</li><li>Identity</li><li>Bridges</li><li>Music</li><li>Events</li><li>Loyalty</li></ul><p><strong>Here's an overview of the Lens ecosystem done by<a href="https://twitter.com/PolygonDaily/status/1586751062903607296?s=20&amp;t=mxDXJubvDAhKD_yQCo3uQQ" rel="noopener noreferrer nofollow"> Polygon Daily</a></strong></p><h2 id="header-5">Future plans</h2><p>Lens is currently a multisig Web 3 platform, but the team intends to transform it into a DAO to give users a say in decisions. They would be able to vote on new features and modules that were proposed. A native token could be a future addition.</p><p>Interested in experiencing Lens IRL? On Dec 8,</p><p><a href="https://open.substack.com/users/10997818-nader-dabit?utm_source=mentions" rel="noopener noreferrer nofollow">Nader Dabit</a></p><p>is hosting a Lens community event in Mexico City. They'll be giving an introduction to Lens, as well as a developer workshop, and all attendees will be able to claim a Lens handle.</p><p>------</p><p><em>Subscribe to receive our daily brief, extended weekly newsletter, and in-house research content!</em></p><p><em><a href="https://www.m6labs.co/s/m6-labs-research-?utm_source=substack&amp;utm_medium=menu" rel="noopener noreferrer nofollow">Subscribe</a></em></p><p><em>Please Share, Leave Feedback, and Follow Us on&nbsp;<a href="https://twitter.com/M6Labs" rel="noopener noreferrer nofollow">Twitter</a>,&nbsp;<a href="https://t.me/illuminatiDaily" rel="noopener noreferrer nofollow">Telegram</a>, and&nbsp;<a href="https://www.linkedin.com/company/m6-labs" rel="noopener noreferrer nofollow">LinkedIn</a>&nbsp;to stay connected with us.</em></p>

Lens Protocol Overview

Table of Contents

M6 Labs 🔬

Other articles published on Dec 6, 2022

3AC Founders Seem Interested in Mending Their Reputation than Asset Recovery

Enjin Development Update (6/12/22)

LunarCrush Releases Top 5 Coins by Altrank for December 5

Crypto News of the Day: Circle terminates plan to go public, Nexo to quit the U.S.

Position Exchange DEX 2.0 - The first ever to use Orderbook on EVM

Philippine Blockchain Week hosts key industry experts, venture capitalists, and startups with Alt...

Join our free newsletter for daily crypto updates!