The acquisition will see Sonar’s Co-founders Join members in Aave
•Aave Companies, an umbrella entity for various crypto projects, has acquired Sonar, a San Francisco-based metaverse developer.
• The acquisition will see Sonar’s co-founders and team members join Aave Companies to focus on building social-mobile applications powered by the Lens Protocol.
• The Lens Protocol is a decentralized backbone for social media apps that uses NFTs.
Aave acquires Sonar
Sonar is an iOS gaming app that allows users to create and discover digital spaces and be part of activities, such as listening to music, playing games, and engaging with other users via custom “moji” NFTs available on the Opensea marketplace.
Aave Companies has just made a major move in the blockchain and metaverse space with its recent acquisition of San Francisco-based developer, Sonar. Founded in 2019, Sonar created an iOS gaming app that provides users with a unique digital playground to explore, create activities, and interact with other users via custom NFTs.
The acquisition will bring the company into Aave Companies’ umbrella organization as developers focus on building social-mobile applications powered by the Lens Protocol. The Lens Protocol is a decentralized network for social media apps that uses non-fungible tokens (NFTs) for transactions or as digital assets. It allows for users to seamlessly make purchases, send payments, and store value across various platforms with little friction.
A cohesive vision
Sonar’s co-founders and team members join Aave Companies with the vision to build a more inclusive metaverse where anyone can participate and customize their experience using NFTs. Through their app, users are able to discover new digital spaces and take part in activities such as listening to music, playing games, or engaging with one another through their own personal “moji” NFTs available on the Opensea marketplace. The integration of these two powerful technologies — blockchain and NFTs — will be an exciting addition to the future of how people interact online through gaming applications.
As Aave Companies looks to grow its presence as an innovative force in blockchain technology, this acquisition affords it deeper access into the world of virtual experiences enabled by decentralization of digital assets like NFTs. With Sonar joining under its umbrella entity, Aave Companies can now provide even more services and resources for developers who want to use blockchain technology to bring life into new immersive experiences in gaming applications like never before seen before.
This acquisition will also open up many opportunities for creators within the metaverse space who have long been seeking a platform where they can share their creativity but weren’t sure if it would ever become reality due to costly development fees or lack of resources available. Now, with this integration between Aave Companies’ blockchain technology and Sonar’s NFTs marketplaces — all made possible by decentralization — creators finally have an opportunity to easily monetize their work while still having full control over how they want it distributed within their ecosystem.
Overall the combination of these two innovative forces will undoubtedly lead to incredibly exciting developments within the world of gaming and metaverses over time as blockchain technology further expands its reach throughout industry sectors worldwide. As Aave Companies continues towards making bigger strides in crypto space — this acquisition only serves as another reminder that anything is possible when you combine cutting edge innovation with thoughtful execution!