MR PRO | State of Lens Protocol: 2023 Annual Onchain Report

GM DOers!

Web3 social IS the future. 🔮

…and Lens Protocol is leading the way after recently celebrating their 1st birthday. 🥳

For those living under a rock 🪨, Lens is not just the #1 sponsor of our newsletter, they are a social graph built on top of the blockchain in order to utilize NFTs for accounts, social content, follows and more.

It’s essentially the protocol that apps (think Facebook or Twitter) can be built upon.

Why? Simple… for interoperability and ownership of social assets. 🔗

In web2, we don’t own our accounts, our followers, or our content, and this results in 2 main issues:

1. Content creators are at risk to lose their hard earned assets 😨

2. A broken internet experience by trapping creators inside the apps they create on 🔐

With social assets as NFTs, you own your assets and can take them wherever you please (and users can consume them wherever they please too).

In the last year, more than 200 social media applications and tools have been built on top of Lens Protocol, sharing the social graph amongst them. 🌐

This is truly revolutionizing how social media functions. To learn more about Lens Protocol and web3 social media, listen to our conversation with Brad from Lens here.

The focus of today's PRO report, however, will be to look onchain to understand just what Lens Protocol and its open-sourced ecosystem has built in the last year.

When we look at Facebook or Snapchat “earning reports” each quarter, we have to trust the companies to provide us details on its earnings, user activity, most popular features, and more. 

However with web3 social, we can simply look onchain and decide for ourselves. The days of sitting and waiting for earnings reports from companies are a thing of the past in web3.

For Lens, by looking onchain, we can uncover things like:

• Amount of total users

• Amount of active users

• The most common type of engagement

• Which apps are used on the social graph and how

• How much money content creators earn and from what types of content

• And even the growth and key metrics of specific accounts (we’ll show a deep dive on @stani.lens)

Did we mention that we can see all of this live without asking permission? We don’t need to wait for earnings season or trust a company, we can simply look onchain whenever we want. 👀🔛⛓️

That’s the power of web3 technology! 🚀

👉 Quick note: Today's PRO Report, showcasing Lens Protocol's AMAZING 1st year achievements, is a free treat for all! 🤩

Usually, this is exclusive to our PRO members. So we hope you relish this report because the next one's going back to PRO territory. 👀

Want to stay on board for next week's report too?

Check out the bottom of this report for a free 7-day PRO trial.

Now, let's dive in! ⏬

Lens Protocol Activity

Lens Protocol went live (officially) on May 18th, 2022, on Polygon.

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