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Community-Centered Approach to Web3 – Founder and CEO of Aave

Community-Centered Approach to Web3 – Founder and CEO of Aave

Aave (AAVE) founder and CEO Stany Kulechov said the firm continues to develop its decentralized social media platform, with Web3 potentially changing the way many people view ownership.

Speaking to Cointelegraph at the Collision conference in Toronto on Thursday, Kulechov said that Web3 — a buzz word often thrown around to describe the next development of the Internet typically based on blockchain technology — could affect it. It could be that people use social media in the same way that cryptocurrency has changed. perception on finance. Ave’s CEO commented on how developers had adapted the protocol to handle custody, and the increase in non-fungible tokens, or NFTs, pointed to a community-focused approach.

“I think Web3 is very much related to the concept of ownership,” Kulechov said. “As we have owned […] Financial protocols and communities and creators, what if we could really own up to our presence in social media – our profiles, our social identities?”

Stani Kulechov talks to Cointelegraph’s Sam Bourgie at the Collision Conference in Toronto, Canada

Kulekov said Ave’s Lens protocol was part of the firm’s expansion into Web3 as a decentralized social media platform, in which essentially a network of “dynamic” NFTs served as both communication between users’ profiles and followers. was. The CEO of Aave said that over 30 live projects were built on the protocol.

related: What is Web3 anyway?

Despite the recent downturn in the market, Kulekov seemed optimistic about the future of the space. However, he added that the perception of crypto in the current environment could affect the onboarding of new users.

“This is not the first time I have been building in a bear market,” Kulechov said. “Web3 and crypto in general are very market driven, so you have ups and downs. When we build, we always consider the long game. Regardless of market conditions, we are building something that Which is useful to the whole community.”

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Community-Centered Approach to Web3 – Founder and CEO of Aave

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