Conventional language learning websites and apps are endemic. A simple Google search will yield dozens. While these Web 2 platforms may claim to utilize exclusive cutting-edge methodology and guarantee results, on closer examination, they are all nearly the same, and more than 85% of their users give up within a month. But now there’s a language learning app that is actually truly unique. LetMeSpeak makes use of Web3 technology to create a blockchain-based network of language learners, whose users are actually paid exchangeable cryptocurrency to learn thanks to the ecosystem’s tokenomic economy.
LetMeSpeak currently uses the Solana Blockchain as the core of its infrastructure, as it provides low transaction fees (from $0.00001) and high throughput (up to 50,000 transactions per second). However, there are plans to ultimately incorporate cross-chain solutions like Wormhole that will make it easier to bring in crypto-natives from other chains, while additional L1s may be integrated to provide the smoothest possible experience to users at scale.
NFT Characters
A user’s main asset in the system is a unique NFT character. These are purchased with LSTAR, the ecosystem’s native cryptocurrency, which is freely transferable and can be exchanged for digital dollars in the open market. NFT characters, LSTAR, and other assets are held directly by users through their wallets and are freely transferable. When starting out, learners can obtain a free character for a 3-day trial to get a taste of the learning experience, but the ability of these ‘common’ characters to earn is very limited. After that, they must buy an NFT character to continue.
By successfully completing tasks using English in real-life situations, such as traveling or parties, users can earn LSTAR. That fuels their motivation, pushing them to continue studying. NFT characters come in three levels of rarity – Uncommon, Rare, Epic, and Legendary – and each is minted with its own unique parameters. The main difference is the level of rewards they can earn per successful learning action. The greater the rarity, the higher the rewards. This is very different from ‘collectible’ types of NFTs, where all of the value comes from perceived rarity. Rarer characters are minted with higher inherent talent and learning speeds, and these attributes do not change. They also start out with better language skills. This means rarer characters can progress through the app’s storyline faster and earn more crypto currency as they learn.
Characters also accumulate experience points (XP) as they progress. The higher a character’s XP level, the higher their rewards rate. Character’s language learning skills – Vocabulary, Pronunciation, Listening, and Grammar – increase as well as users get practiced in the app. All characters start at Level 1 and advance to new XP levels and up their skill stats when they accrue enough points by learning.
In order to complete learning tasks and earn rewards, characters must expend energy. At the beginning of each day, each character has 100 energy points to spend, which can be converted to tokens and XP through study. Characters with faster learning speeds will earn more XP for each unity of energy spent. Energy is gradually restored to 100 points in 24 hours. Characters can ‘Learn-and-Earn’ in LetMeSpeak as long as they have a valid visa to be in the ecosystem. These are granted to characters when they are minted with a validity from 4-6 months from time of activation, depending on the rarity of the character.
Once you have a character, you’re ready to ‘Learn and Earn’. There are a couple of ways of doing this. The main way is to progress through a game-based storyline that consists of many scenarios that are as close to life as possible. Learners earn LSTAR by employing new vocabulary and grammar to complete each task as they move forward along the path. Each episode has a real-life goal, from buying a bus or train ticket, ordering in a restaurant, or checking in at a hotel, to more complicated work-related negotiations. All the content is in modern, authentic, everyday English accompanied by full audio voiceovers by native speakers from the United States. The system has its own adaptive speech recognition algorithm that helps learners monitor their progress and improve their pronunciation over time.
Another way to earn LSTAR is to participate in PvP games, where a user can challenge another user to a race. Correctly answering grammar questions fuels their vehicles and the winner takes the lion’s share of the tokens, which adds an element of competitiveness to further spur motivation.
LetMeSpeak’s ‘Learn-and-Earn’ model boosts the speed and success rate of acquiring useful new skills and knowledge by combining learning with financial incentives and instant gratification. You can’t make millions, but the rewards are a nice bonus that can be spent on something tangible, like lunch or coffee, and this fuels motivation.
Tokenomics
With the LSTAR that users earn, they can:
- Exchange LSTAR for USDC in the in-app exchange, which can then be converted into actual currency.
- Purchase additional characters or mint them via invites. Learners can then use these NFTs to earn more LSAT, sell them on the decentralised in-app marketplace on a peer-to-peer basis, or rent them out to other users and share in the profits.
- Extend and freeze character visas, or restore their lives
- Take part in Player vs Player (PVP) contests that give users the opportunity to earn even more LSTAR.
- Pay in-game fees and buy consumables
Funds are generated to sustain the LetMeSpeak metaverse by extracting fees for transactions on the marketplace and cryptocurrency exchange, visa extensions, character upgrades, and visual customizations, as well as from the primary sales of NFTs. These funds flow into the ecosystem’s Treasury and are used to further the project’s development and ensure its financial health.
By obtaining LMS governance tokens, LetMeSpeak users will also be able to participate in making DAO decisions on how these funds are used, as well as help guide the project’s long-term development and financial strategies.
Consequently, LetMeSpeak’s users become more vested in the project, as they actually become active members of a language learning community, who can influence the future of the project, interact with other participants, and earn money as they learn.
LetMeSpeak will appeal to people who are serious about learning English but have had little luck with traditional platforms where you study in isolation.
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