Aave Companies confirmed the purchase of Sonar- a metaverse developer that allows players to interact with user-created spaces via non-fungible tokens (NFTs). Aave Companies is a holding entity for software development involving multiple crypto projects. It comprises the borrowing and lending platform Aave, Stablecoin GHO, and Lens Protocol, a social platform.
Impact of Sonar Acquisition
While Aave Companies concealed the inner details of the acquisition, the deal featured the inclusion of Sonar’s co-founding siblings Randolph Lee and Ben Lee in Aave Companies’ team building the social mobile application using Lens Protocol.
Also, the siblings are joined by other critical members in developing the mobile application powered by the Polygon-based decentralized protocol. The team from the San Francisco-based company considers Lens Protocol vital for powering social-mobile applications since it allows content storage as NFTs.
The statement shared by Aave Companies indicated Ben Lee is set to become the senior vice president tasked with product and design. Ben’s acceptance speech lauded Lens Protocol as reinforcing the building blocks transforming how individuals connect online. He admired Aave’s approach to enhancing social media using Lens Protocol.
While Sonar has established itself in metaverse development, Ben South clarified that Sonar’s emergence traces to its launch as a Y-Combinator product in 2020. The iOS gaming application empowers users to create and discover digital spaces. In addition, Ben considers it as facilitating users in becoming central to digital activities, including games and music. He added that it makes users to access the personalized “Moji” NFTs on the OpenSea marketplace.
Lens Protocol Integration to Sonar
The successful onboarding of Lens Protocol to the Sonar application will enable developers to figure out the compatible combinations that users find approachable. Aave Companies chief executive Stani Kulechov admitted the Sonar team led by Ben and Randolph has exceptional creativity in delivering innovative products.
Kulechov considers the Sonar team’s experience in engineering, market growth, and product design is invaluable to accelerating social media rollout and reinforcing the Lens’ mobile application strategy.
Kulechov echoed other Aave Companies executives commending the Sonar team’s creativity as critical in the Web3 consumer applications scheduled for release in 2023.
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