The community-centered approach to Web3 — Aave founder and CEO

Stanley Kulekov, founder and CEO of Aave (AAVE), said the company continues to develop a decentralized social media platform, and that Web 3 could change the ownership view of many.

Speaking to the Cointelegraph at a conference in Toronto on Thursday, Kulekov Web 3 – the often-thrown buzzword that describes the overall evolution of blockchain technology – could affect how people use social media. Cryptocurrency has changed in the same way. Perceptions of finance. How Ave CEOs have modified protocols to address protection and the addition of invincible tokens or NFTs seems to be a community-centered approach.

“I think Web3 is very much in line with the concept of ownership,” Kulekov said. “We have a husband […] Financial protocols and communities and creators, what if we could own our own presence on social media – our profiles, our social identity? ”

Stanley Kulekov speaks with Cointelegraph’s Sam Bourgi at a conference in Toronto, Canada.

Kulekov added that as Aave’s Lens Protocol is the company’s decentralized social media platform, “dynamic” NFTs are part of the company’s expansion as both user profiles and followers. According to Aave CEO, there were more than 30 direct projects built on the protocol.

Related What is Web 3 anyway?

Despite recent market failures, Kulekov seems to be optimistic about the future. However, he said that in the current climate, awareness of cryptocurrencies could affect the deployment of new users.

“This is not my first time building a bear market,” Kulekov said. “Web 3 and Crypto are generally marketable, so you have ups and downs. As we build, we are always thinking of the long game. Regardless of the market situation, we are building something that will serve the entire community.