Friend Tech Killer Lens Protocol Advances With Creator Monetization

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Multiple individuals generate income by creating content on Lens Protocol, an alternative decentralized social media platform to Friend Tech.

Lens Users Monetizing Social Creation

Based on information from Stani Kulechov, the co-founder of Aave and creator of Lens Protocol, some high-earning users on Lens have been reportedly making around $1,300 per month. On an annual basis, their income from the protocol can reach up to $16,500.

According to Stani’s recent post, our earnings come from various sources such as content sharing and collecting tips. He believes that this income is respectable for a network with approximately 300,000 users.

Some users earn approximately $150 every month and around $1,700 each year through monetization, as shared by the Aave co-founder, reminiscing about his first Google payment received from placing ads on his website fifteen years prior.

Significant users of the Lens Protocol shell out an average of $38 monthly and around $500 annually. Some high-rolling users even reach expenditures of up to $60,000 per year.

Consider expanding the user base to include 3 million people (a tenfold increase), 30 million individuals (a hundredfold increase), or even 3 billion users (a three thousandfold increase).

When discussing the difference between Lens Protocol and Decentralized Finance (DeFi), Kulechov pointed out that the average return on investment (ROI) over the past year for USDC in Aave, the largest liquidity market, was 4.94%. It would be challenging for any user to surpass the yields offered by Lens Protocol without having a substantial capital investment of approximately $350,000, which would enable them to earn above $17,000 in a year.

Lens Protocol Defying All Odds

According to Kulechov, individuals who profit from their social connections will adopt a confident and influential mindset. Simultaneously, he proposes that this activity opens up vital opportunities for new user groups to generate wealth. Consequently, users can leverage their capital through DeFi, while they can do the same with their social influence via DeSoc.

Lens Protocol’s bustling scene recalls the frenzy surrounding Friend Tech a few months ago before its data breach. The ensuing collapse left industry heavyweights like Ethereum co-founder Vitalik Buterin warning that many crypto social apps could meet a similar unfortunate end, which he labeled as poor DeFi projects.

Despite the earlier doubts about Lens Protocol, it has continued to thrive, as evidenced by its user base monetizing the platform.

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2024-04-20 22:47