Morrison Foerster advised Sonar, a San Francisco-based startup that developed the first social mobile metaverse where players can build worlds and interact with user-created spaces using NFTs, in connection with its sale to Aave Companies, a software technology company that builds web3 protocols, applications, and tools.
Launched out of Y-Combinator's Summer 2020 cohort, Sonar is an iOS gaming app that allows users to create and discover digital spaces, listen to music, play games, and engage with others in a way not possible before – via custom 'Moji' NFTs. Following the sale, Sonar's co-founders and additional team members will join Aave Companies to focus on building social-mobile applications powered by the Lens Protocol, a Polygon-based decentralized social media protocol that lets users store their content as NFTs.
The MoFo team advising Sonar was led by San Francisco corporate partners Teresa Tate and Mike LaPlante, together with San Francisco associate Samantha Breaks and New York associate Matthew Kwon.
Read more about the transaction in Aave Companies' press release.
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