NFT Power: Lens Protocol Announces “Token Gated Publications”

Summary:
• Lens Protocol gives users control over their social media content and monetization of the content, unlike centralized social media platforms.

Decentralized social media platform Lens Protocol has introduced a new feature called “Token-Gated Publications.” This functionality is made possible by LIT Protocol, a crypto system that enables authors and publishers to encrypt their content securely while maintaining full control over who may view it. By limiting access to users who have the appropriate tokens in their cryptocurrency wallets, it helps creators earn money from their work.

Insights into Lens Protocol and its use of social media

In order to facilitate the development of Web3 social platforms, Lens Protocol provides a decentralized social graph. Launched on the Lens API, Token Gated Publications are now available for use by developers and partners all around the Lensverse. Through this, members of a creator’s or friend’s inner circle can provide their followers early access to new works. Lens’ gated publication will employ encrypted metadata to restrict access to posts to those who have met certain criteria. Possible requirements include a specified reputation or possession of a token.

Compared to centralized social networking sites like Facebook and Twitter, the protocol is quite different. To ensure that content creators may own their digital identities and that individuals can unreservedly control the connections they have with their communities, it is built without the need for consent from any third party. It generates a decentralized social network in which users have complete ownership, reclaiming authority over their data and connections and even empowering them to make money off their efforts.

By leveraging blockchain, smart contracts, and NFTs, Lens Protocol is built to function similarly to other social media platforms, but in a Web3 environment. Users can create profiles, upload, share, and comment on various forms of material, as well as follow the profiles of friends and thought leaders.

Lens will employ ERC-20 tokens and NFTs to ensure that only authorized users can view restricted material. For instance, the owners of a particular token or NFT might be given early access to brand new releases of popular songs, videos, and other forms of digital media.

Also, the protocol relies heavily on the creation of NFT profiles for individual users. Lens Protocol uses NFTs to give its users control over their own content and profiles, while Polygon’s low-fee layer 2 scaling solution maintains all of the data.