Aave Acquires NFT Mobile Game Sonar for Lens Social Media Integration

With the acquisition, Lens Protocol will be integrated into a game app which claims to have 20,000 active users per month.

AccessTimeIconDec 5, 2022 at 3:00 p.m. UTC
Updated May 9, 2023 at 4:04 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Aave Companies has acquired Sonar, a mobile app whose users pilot non-fungible token-linked avatars through digital worlds, with plans to integrate its Lens social media protocol with the platform.

Lens declined to state the terms of the acquisition, Aave’s first foray into buying out other teams. It will integrate what it termed Lens’ decentralized profile system with Sonar’s avatars – cutesy emojis called “mojis” – to create a singular identity within its metaverse.

Players can log into the Sonar game using Lens, the companies said. The app claimed to have 20,000 monthly active users and thousands of NFTs owners, according to a press release shared with CoinDesk.

Sonar’s NFTs have seen 49 ETH in trading volume since launching in October 2021, according to its OpenSea page. The collection had just over 1,000 different owners at press time.

Along with the acquisition, the startup's executives will join Aave to build its mobile consumer-facing social applications powered by Lens, with other Web3 consumer applications launching in 2023. Aave declined to disclose more information on those plans.

Earlier in May, Aave launched Lens Protocol on Polygon blockchain, allowing developers to build their own decentralized social media applications and marketplaces where users can control their data. The acquisition helps Lens expand to the mobile application, accelerating its social media product strategy based on the Lens Protocol.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Xinyi Luo

Xinyi Luo is CoinDesk Layer 2's features and opinion intern. She does not currently hold any cryptocurrencies.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about