Exciting news coming from Aave; the company has acquired Sonar, a mobile gaming platform using NFT-backed avatars to navigate virtual environments. With this new acquisition, Aave intends to integrate Lens, its own social media protocol, into the app.
How This Acquisition Helps Aave
One thing to note is that Lens features decentralized profiles of its own, and because Sonar is built around NFT-backed avatars, it will fit right in. Reportedly, there are plans to integrate the avatars and their accompanying emojis to create a unified identity for users across its Metaverse.
This will be done, Aave says, by logging into Sonar using their Lens accounts and accessing all of its features. It is worth noting that Sonar has been quite popular in the market since its launch, boasting over 20,000 users.
The Aave Fam is growing! It’s no secret that our team has been innovating in social media, with Lens Protocol to bring power back to users, right where it belongs.
To continue our mission, we’re thrilled to announce the acquisition of @Sonar, a mobile-first metaverse. pic.twitter.com/qlRTUFq1SO
— Lens Protocol 🌿 (@LensProtocol) December 5, 2022
On top of this, the NFTs associated with Sonar have seen a combined 49 ETH in sales on OpenSea and no doubt this new acquisition will only boost its visibility. But more than this, the two companies can continue to work towards giving users a more streamlined web3 experience. This will be done in part by the executives of Sonar who will now work under Aave.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.
