Scholarships go live on LetMeSpeak, making “Learn and Earn” accessible to all
Our long-term goal is to make English language learning available to anyone in the world with access to the internet not only for free, but with the opportunity to earn while learning too. We’re therefore delighted to announce the launch of Scholarships, which is an important milestone in the development of the LetMeSpeak ecosystem.
Anyone with a qualifying LetMeSpeak NFT can now loan their characters to those wishing to learn English through the Scholarship programme, with both the sponsor and scholar being eligible to earn LSTAR reward tokens as the scholar learns.
It means that LetMeSpeak NFT Character owners now have a new way to earn passive income on their existing assets, and scholars can earn whilst learning without the need to buy their own NFT to participate. Users need to pay a small fee if the avatar NFTs they place into the Scholarship program is selected by a user, depending on the rarity of the character.
Uncommon avatars will cost 25 LSTAR tokens, Rare ones — 50, Epic level NFTs — 100 LSTAR, and Legendary avatars can fetch as much as 250 LSTAR. The owner has the right to set the percentage of the amount that they are ready to give to the Scholarship holder for studying, with the minimum amount depending on the rarity of the character.
For detailed information on how Scholarships work, see here.
So why is this significant? There are currently around 1.4 billion people learning English around the world and learning English is a powerful and proven way of improving economic and social mobility. With LetMeSpeak Scholarships, all of these people could potentially earn while they learn — without the need for any upfront purchase of an NFT. Plus, paid learning solves the challenge of motivation which is the number one barrier to language learning.
LetMeSpeak has come a long way since we launched our Web3 learning just last year, and we’re very excited to have passed the significant milestone of launching Scholarships. But we’re busy continuing to refine and develop our learning metaverse, and maximising incentives of the LetMeSpeak ecosystem. Stay tuned for further developments!