Blockchain and Web3 are not just buzzwords associated with digital currencies – their practical applications are much broader. As these technologies continue to evolve, they are now being used in exciting and innovative ways in various industries. One such area is education, where blockchain and Web3 are revolutionizing the way we learn and interact with each other.
Leading the way in this field is LetMeSpeak, an English learning platform that has developed a groundbreaking blockchain-based Web3 platform. With this platform, participants become full-fledged members of a learning community, where they can take part in an ecosystem’s token-based economy. By joining this platform, you’ll be able to improve your English skills while earning money at the same time.
Web3 Ecosystem
What makes LetMeSpeak truly unique in terms of language learning is its economic model. As opposed to Web2 platforms, where users pay a subscription fee to gain access to study materials, LetMeSpeak users are actually paid to study in a ‘Learn-and-Earn’ plan.
By completing language learning tasks in a game-like interface, users receive financial incentives, or LSTAR, the ecosystem’s rewards token, which can be exchanged for USDC. You can’t make millions, but it’s enough to buy something tangible, like lunch or coffee. This instant gratification fuels motivation, which, in turn, boosts the speed and success rate of acquiring new language skills.
To get started, users pass registration and take a short vocabulary test to establish their level of language knowledge answering questions about why they need English. And their learning journey begins.
Users has to buy an NFT Character to get the full version and ability to earn reward tokens. To do this, they must attach a crypto wallet to their account with enough funds to buy a character. The price of these varies depending on their rarity and level of talent. Once a user has a character, they are ready to learn and earn.
In order to make it easier for new users unfamiliar with cryptocurrency to get started, LetMeSpeak has now made it possible to buy NFT characters in-app through the Apple and Google Play stores. After buying their first character, they can then learn how to create their own crypto wallet and convert the LSTAR they earn into real money.
The NFT characters that users purchase are, in fact, their own personal property in the ecosystem, so they have a vested interest in participating in it. By completing tasks or competing with other learners, they can earn LSTAR tokens and boost their character’s earning potential in the game. They can also use LSTAR to buy other NFT characters, which they can then sell to other users on a peer-to-peer basis via a decentralized marketplace.
And in order to ensure maximum accessibility for those from lower-income groups or developing countries, who may not have enough funds to get started, LetMeSpeakhas made it possible for NFT owners to rent their characters out to others and share in their earnings. This is beneficial to both the owner and renter, as newcomers won’t have to make the initial investment to buy an NFT to start, and owners will receive an income stream from additional NFT characters they purchase with the LSAT they earn while learning.
Learning System
From the outset, LetMeSpeak learners are immersed in a storyline that consists of many scenarios that are as close to life as possible. 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 voice overs by native speakers from the United States. The system has its own adaptive algorithm for speech recognition that helps learners monitor their progress and improve their pronunciation over time.
For learning vocabulary, the program utilizes a proven spaced repetition technique and memorable illustrations that allow users to learn 6000+ of the most common English words needed to travel, work, and communicate clearly.
Interactive grammar exercises with easy-to-understand explanations, as well as built-in drilling games, help learners see patterns and develop a fuller understanding of the point that they’re studying.
There is also a PvP game, 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.
By using the words they’ve learned in new grammar constructions and applying them to storyline situations, learners quickly master the communication skills they need… and earn along the way.
Results
Having the opportunity to make money while learning motivates LetMeSpeak users to stay engaged and study more. When studying with LetMeSpeak rewards, users remember 4 times more words and phrases in the first 30 days, and 5 times more users continue to consistently study after a month.
In a recent study, LetMeSpeak collaborated with Favela Inc, an organization that helps low-income communities in Brazil. The platform provided the NGO with 132 free characters for young learners to study English with and paid them $2 per day if they completed lessons. The results demonstrated that the opportunity to earn even small financial rewards for 30-40 minutes of study helps students to keep going forward in their educational journey.
LetMeSpeak Users with Sponsored Rewards | Free LetMeSpeak Users without Rewards. | |
According to research statistics, the Learn-and-Earn approach had a very strong impact on motivation, regularity of use, and learning outcomes. The share of students with a language proficiency level below A1 in the control group decreased from 40% (at the beginning of the charity program) to 12% (at the end of training), while the share of students with a language proficiency level of A2 and above increased more than three bold, from 18% up to 60%.
The results confirmed that LetMeSpeak platform and reward system can be used to build super efficient charity programs for people in need around the world.
For native speakers of other languages, gaining proficiency in English can open a lot of doors. That’s probably why 1.4 billion people around the world are currently studying it today. For those who have been unable to maintain motivation on traditional platforms, but still dream about getting a better job, studying abroad, living in a foreign country, or just travelling with more confidence, LetMeSpeak might just be the ticket to a new and exciting life.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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