Mar 15, 2022
Invites: Engine of User-Driven Economy
Today, we have some exciting news to share!
We are launching “Invites”. You can now create your own unique NFTs in the Let Me Speak ecosystem, and have an even more rewarding Learning & Earning experience.
Invites make the LMS Metaverse more fun, boost user earning potential, increase utility of LSTARS (the Let Me Speak in-game token), and will help add to the viral appeal of the Let Me Speak.
Invites are an important step in the development of the Let Me Speak ecosystem as it hands control to users for creation of new NFTs. It moves us further in development of the self-regulated user to user economy that we’re creating. This is a key part of the appeal of Web 3.0 platforms versus traditional centralised and developer-owned ones.
Before we dive into the details, we want to thank all our 1 Million+iOS app users and over 700,000 followers on Twitter and Instagram for joining us on the Let Me Speak journey of creating the first Language Learning Metaverse.
What are Invites?
“Invites” is a process of creating new NFT Characters from existing ones.
It is an essential part of growing the Let Me Speak economy. We expect most NFT Characters to be created by users through Invites.
How do I invite another NFT Character?
- To start, log in to your account on market.letmespeak.org and go to Inventory
- It takes two NFTs of the same rarity to create another one through Invite.
- Choose one NFT Character, and press on the Invite button on that Character’s page
- Pick another NFT Character of the same rarity, and see the LSTAR cost of inviting a new one and its potential rarity and talent range
- Confirm you are happy with the transaction and get your new NFT Character in minutes
Which NFT Characters are able to invite others?
Each of the two NFT Characters that participate in an invite, should meet the following criteria:
- Have available Invite slots (each NFT Character has 6 slots)
- Have an XP level [1] or higher
- Have not participated in invites in the [3] preceding days
How much does it cost to create a new NFT through Invites?
You can calculate the cost of inviting a new NFT Character from the table below.
Let’s go through a simple example. Let’s assume you have 2 Rare NFTs, one with 0 invites used, and the other — 2. The cost of inviting another NFT character will be 3,500 + 4,900 = 8,400 LSTARs.
Сost of Invites in LSTARs for each participant:
Why does each subsequent invite cost more?
Each subsequent Invite can give you a lot more value. It provides an additional bonus to the Talent range or even to Rarity of the new Character.
If one of the Characters participating in the Invite has completed more than 3 Invites, you will get a chance to get a Character of higher Rarity.
If both of your Characters are making the final 6th Invites you will get a new Character of higher Rarity. (For Legendary Characters Invite, you will get a new Legendary Rarity NFT with double the length of the LMS visa)
How much will these new NFTs earn a day?
The new NFT Characters work in exactly the same way as the original ones.
The amount they make is mainly driven by their Rarity and Talent.
The best way to check the latest daily LSTAR earnings of each NFT Rarity is on market.letmespeak.org
How do I buy LSTARS needed for Invites?
Log in to https://market.letmespeak.org and use USDC / LSTAR Swap for instant purchases.
This swap is based on the Serum orderbook available on Bonfida. If you wish to use it directly you can use Dexlab UI.
What do I do with a new NFT when it arrives?
- Hold it. LMS Visa starts only after you play it at least once
- Use it to Learn & Earn
- Invite new NFT Characters
- Sell it on Marketplace to other users
- Send it as a gift to your friends, family members or someone you care about
- Coming soon: Use it to provide a Scholarship (ie someone else plays your Сharacter and both of you earn )
How important is NFT Character’s Talent?
Talent is a key attribute of any Character. The more Talent points a Character has — the faster it will progress in XP levels, the more it can Earn, and the more chances it has to win in PvP.
Talent points are fixed at the inception of an NFT Character. They do not change at any time.
Characters with higher Talent earn 10% extra LSTARs within each Rarity. For example, Characters with Talent 30–35 earn 100% LSTAR rewards for learning and Characters with Talent 36–39 earn 110% LSTAR rewards for the same activity.
How do I get the most talented NFT Character?
Here is a list of bonuses which apply to the potential talent range of new Character depending on the stats of a Characters who performs the Invite:
- From Levels (each 10 Level +0.5)
- From Invites done (each Invite +0.5)
- From high Talent (up to +2)
You can also use extra +3 bonus for Talent Range for extra fee in LSTARs.
Choose two Characters that you want to Invite a new one, and you will see a potential Talent range of the new Character and probability of higher Rarity.
