Hi, today we are going to take apart a project called Lens Protocol. We will answer the question why one such profile costs $200 and how you can get it. By the way @StaniKulechov, I don't have a profile yet.

Scope Of Article

1. Introduction

2. The concept of roots

3. Development on Lens

4. Analytics

5. Investors

6. Projects on Lens

7. Conclusion

Lens Protocol is a Web3 social graph on the Polygon Proof-of-Stake blockchain. It is designed to allow creators to own the connections between themselves and their community, forming a fully-component social graph owned by users. The protocol is built from the ground up with modularity in mind, allowing new features and fixes to be added while ensuring unchanged user content and social relationships.

Lens Protocol seeks to solve major problems in existing social networks. Namely, all Web2 networks read from their unique centralized database. There is no portability. Your profile, friends and content are tied to a specific network and belong to the network operator. This forces each network to compete for your attention in a zero-sum game.

The Lens protocol fixes this by being a user-owned open social graph that any application can connect to. Because users own their data, they can transfer it to any application built around the Lens protocol. Creators, as the true owners of their content, no longer have to worry about losing their content, audience and livelihood to the vagaries of algorithms and the policies of a separate platform. In addition, every app that uses the Lens protocol benefits the entire ecosystem, turning a zero-sum game into a collaborative game. Developers can create meaningful social interactions without resorting to feedback mechanisms to capture the user's attention.

The main object of the Lens Protocol is the user profile, which is created as an NFT with a set of properties. The owner of such an NFT can manage the profile.

Profile owners can:

• Make profile postings.

• Comment on other publications.

• Mirror - The equivalent of a retweet.

• Set profile subscription terms - other users can subscribe to your profile with no conditions, or give you a designated fee for subscribing.

• Set profile picture.

• Set profile "manager" - set an address (wallet) that can do things with the profile.

The updatable contract is the primary entry point for most interactions in the protocol. Almost all interactions begin as an ERC721 contract for NFT, which are issued when the profile is created.

The first time a profile is subscribed, an ERC721 NFT contract unique to the profile is deployed, it is an ERC721 NFT contract, and it represents the subscription position.

The first time you save a publication (collect), it expands the contract unique to the publication.

Creating a profile you form the NFT of the profile, subscribing to someone's profile you form the NFT that will be saved in your wallet and will fix the subscription to the profile, saving someone's publication you form the NFT with that publication.

Lens has its own SDK and API for developers created in JavaScript and TypeScript. There are detailed instructions in the official documentation of the project, with which you can create your own web3 application using Lens.

Let's move on to the most interesting part of this article - the analytics of interest in the project. We will break down the charts and the people following the project. Let's start with the project's Twitter.

The project's Twitter was created a year ago and at the time of writing has 264,000 followers. Among them are noticed NFT degens (6529 and DeeZe), projects (Bankless and Polygon), employees of foundations and foundations (Fred Ehrsam, a16z, Paradigm) and a huge number of other influential people. There are 2,000 to 3,000 people who subscribe to their tweets daily.

If we analyze the activity of Lens profiles (Posts, Comments, Mirrors) over the last 5 months, we see that it has almost quadrupled since September. In January 2023, that number reached a crazy number - 474,575 interactions per month.

Based on the chart of secondary sales on OpenSea, we can see that the increase in the price of profiles began as well from November 2022. There are two answers to the question why it happened. The first one is analytical. Since November, there are far fewer opportunities to minify a profile, with extremely limited promotions, where 50-100 profiles are allocated per user. The second is potential. There is a possibility that active profiles will receive a valuable retrodrop of project tokens. Already to date there have been several third-party NFT giveaways for those who have high activity in Lens.

There is no open information about investments in the project, but the Internet has information that the project is supported by FTX, Sonar, and most likely Polygon.

Much more interesting situation with Aave, this project, the team of which is currently working on Lens Protocol. They have published investments, among them are Blockchain Capital, Blockchain.com Ventures, Three Arrows Capital, Pantera Capital, and even Alameda Research.

RE:MEME - On-chain meme generator, built on top of Lens Protocol.

Buttrfly - You own your data. The social media you deserve.

DumplingTV - Steaming and streaming.

Lenster - Lenster is a composable, decentralized, and permissionless social media web app built with Lens Protocol.

Lenstube - Lenstube is a decentralized video-sharing social media platform built with Lens protocol.

Orb - Decentralized professional social media app with an end-to-end on-chain credibility system.

Phaver - **Help us curate interesting stuff online and offline and get rewarded.

Lensta - **Feed of the most recent images posted on Lens Protocol.

Lens Protocol is actively gaining popularity, it can be seen in its social networks and charts, the project curbs the excitement by not allowing everyone to mint profiles. Lens is still in beta and is being finalized, and applications built on it still have bugs and instability in operation.

In addition, the protocol is designed with the concept of modularity at its core, which allows infinite expansion of the number of use cases. This, from the user's point of view, means a new paradigm of ownership and customization, which is not possible in Web2.

Thank you for reading to the end. I hope this article has helped you find something new for yourself. No action from this article is a financial recommendation.

If you found it useful, subscribe to my Twitter and feel free to share it with others. If you have any suggestions for edits, whether it's something I missed or said wrong, feel free to write in the comments.

Hi, today we are going to take apart a project called Lens Protocol. We will answer the question why one such profile costs $200 and how you can get it. By the way @StaniKulechov, I don't have a profile yet.

Scope Of Article

1. Introduction

2. The concept of roots

3. Development on Lens

4. Analytics

5. Investors

6. Projects on Lens

7. Conclusion

Lens Protocol is a Web3 social graph on the Polygon Proof-of-Stake blockchain. It is designed to allow creators to own the connections between themselves and their community, forming a fully-component social graph owned by users. The protocol is built from the ground up with modularity in mind, allowing new features and fixes to be added while ensuring unchanged user content and social relationships.

Lens Protocol seeks to solve major problems in existing social networks. Namely, all Web2 networks read from their unique centralized database. There is no portability. Your profile, friends and content are tied to a specific network and belong to the network operator. This forces each network to compete for your attention in a zero-sum game.

The Lens protocol fixes this by being a user-owned open social graph that any application can connect to. Because users own their data, they can transfer it to any application built around the Lens protocol. Creators, as the true owners of their content, no longer have to worry about losing their content, audience and livelihood to the vagaries of algorithms and the policies of a separate platform. In addition, every app that uses the Lens protocol benefits the entire ecosystem, turning a zero-sum game into a collaborative game. Developers can create meaningful social interactions without resorting to feedback mechanisms to capture the user's attention.

The main object of the Lens Protocol is the user profile, which is created as an NFT with a set of properties. The owner of such an NFT can manage the profile.

Profile owners can:

• Make profile postings.

• Comment on other publications.

• Mirror - The equivalent of a retweet.

• Set profile subscription terms - other users can subscribe to your profile with no conditions, or give you a designated fee for subscribing.

• Set profile picture.

• Set profile "manager" - set an address (wallet) that can do things with the profile.

The updatable contract is the primary entry point for most interactions in the protocol. Almost all interactions begin as an ERC721 contract for NFT, which are issued when the profile is created.

The first time a profile is subscribed, an ERC721 NFT contract unique to the profile is deployed, it is an ERC721 NFT contract, and it represents the subscription position.

The first time you save a publication (collect), it expands the contract unique to the publication.

Creating a profile you form the NFT of the profile, subscribing to someone's profile you form the NFT that will be saved in your wallet and will fix the subscription to the profile, saving someone's publication you form the NFT with that publication.

Lens has its own SDK and API for developers created in JavaScript and TypeScript. There are detailed instructions in the official documentation of the project, with which you can create your own web3 application using Lens.

Let's move on to the most interesting part of this article - the analytics of interest in the project. We will break down the charts and the people following the project. Let's start with the project's Twitter.

The project's Twitter was created a year ago and at the time of writing has 264,000 followers. Among them are noticed NFT degens (6529 and DeeZe), projects (Bankless and Polygon), employees of foundations and foundations (Fred Ehrsam, a16z, Paradigm) and a huge number of other influential people. There are 2,000 to 3,000 people who subscribe to their tweets daily.

If we analyze the activity of Lens profiles (Posts, Comments, Mirrors) over the last 5 months, we see that it has almost quadrupled since September. In January 2023, that number reached a crazy number - 474,575 interactions per month.

Based on the chart of secondary sales on OpenSea, we can see that the increase in the price of profiles began as well from November 2022. There are two answers to the question why it happened. The first one is analytical. Since November, there are far fewer opportunities to minify a profile, with extremely limited promotions, where 50-100 profiles are allocated per user. The second is potential. There is a possibility that active profiles will receive a valuable retrodrop of project tokens. Already to date there have been several third-party NFT giveaways for those who have high activity in Lens.

There is no open information about investments in the project, but the Internet has information that the project is supported by FTX, Sonar, and most likely Polygon.

Much more interesting situation with Aave, this project, the team of which is currently working on Lens Protocol. They have published investments, among them are Blockchain Capital, Blockchain.com Ventures, Three Arrows Capital, Pantera Capital, and even Alameda Research.

RE:MEME - On-chain meme generator, built on top of Lens Protocol.

Buttrfly - You own your data. The social media you deserve.

DumplingTV - Steaming and streaming.

Lenster - Lenster is a composable, decentralized, and permissionless social media web app built with Lens Protocol.

Lenstube - Lenstube is a decentralized video-sharing social media platform built with Lens protocol.

Orb - Decentralized professional social media app with an end-to-end on-chain credibility system.

Phaver - **Help us curate interesting stuff online and offline and get rewarded.

Lensta - **Feed of the most recent images posted on Lens Protocol.

Lens Protocol is actively gaining popularity, it can be seen in its social networks and charts, the project curbs the excitement by not allowing everyone to mint profiles. Lens is still in beta and is being finalized, and applications built on it still have bugs and instability in operation.

In addition, the protocol is designed with the concept of modularity at its core, which allows infinite expansion of the number of use cases. This, from the user's point of view, means a new paradigm of ownership and customization, which is not possible in Web2.

Thank you for reading to the end. I hope this article has helped you find something new for yourself. No action from this article is a financial recommendation.

If you found it useful, subscribe to my Twitter and feel free to share it with others. If you have any suggestions for edits, whether it's something I missed or said wrong, feel free to write in the comments.