“I think Web3 is quite a lot related to the concept of ownership,” said Kulechov. “As we have ownership of [...] financial protocols and communities and creators, what if we actually can have ownership on our own presence in social media — our profiles, our social identities?”Kulechov added that Aave’s Lens Protocol was part of the firm’s expansion into Web3, as a
in which essentially a network of “dynamic” NFTs acted as both users’ profiles and communications between followers. The Aave CEO said that there were more than 30 live projects built on the protocol.Despite the recent market downturn, Kulechov seemed to be hopeful about the future of the space. However, he said perceptions of crypto in the current climate could affect onboarding new users.
“It’s not the first time I’m building in a bear market,” said Kulechov. “Web3 and crypto in general is very market driven, so you have highs and downs. When we build, we always are considering the long game. Regardless of market conditions, we’re building something that is bringing utility for the whole community.”
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