Insiders: Lens Protocol is seeking $50 million in funding, aiming for a post-funding valuation of $500 million.

according to DLNews, informed sources revealed that Avara founder and CEO Stani Kulechov is seeking to raise $50 million from American venture capital firms to fund the social media platform Lens Protocol, which will bring Lens Protocol's valuation to $500 million.

When asked about the token issuance of Lens Protocol, Kulechov stated, "we haven't gotten to that point yet." The current main goal is the upcoming Lens Network, a native network built on the ZKsync technology stack.