Development company aave companies has acquired sonar, a san francisco-based metaverse developer. the acquisition was announced on wednesday, and it will see sonar’s co-founders, brothers ben south lee and randolph lee, joining aave companies. ben south lee is assuming the role of the senior vice president of product and design at the aave companies. stani kulechov, ceo of aave companies, is thrilled that the sonar team is joining their lens team.
Acquisition was made in the summer of 2020, when sonar was launched as a product of y-combinator. sonar is an ios gaming app that allows users to create and discover digital spaces, such as listening to music, playing games, and engaging with other users. mojis, which are made up of a body, a mouth, eyes, and accessories and come with a gem, are sometimes cute, sometimes weird, but always entertaining collection of playable 3d avatars.
The lens protocol into sonar was the main reason for the acquisition. lens protocol is a polygon-based decentralized social media protocol that lets users store their content as nfts. the team plans to build other web3 consumer applications that can be launched as early as next year. the team will focus on building social-mobile applications powered by the lens protocol, and “figure out the right combinations that are approachable and familiar to anyone.” the terms of the deal are undisclosed. aave companies is the umbrella entity for various crypto projects, including the lending and borrowing protocol aave, the up-and-coming social platform lens protocol, as well as the stablecoin gho.