Hello Lympo friends, my name is Tadas. I am the Chief Executive. I am here to provide the latest updates and respond to your questions. If you are not a fan of long reads, skip to the end of this article, where you will find the key takeaways.
For those who stayed, as you might know, I am a relatively newly appointed CEO; I want to start this presentation with a question from myself:
What is Lympo?
My main concern is that there is a false perception that Lympo is only an NFT minting platform. Based on this perception, additional problems arise, such as new user acquisition, unclear value proposition, and scalability.
I want to clarify that Lympo itself is not just a product. Lympo is a Digital Sports Ecosystem where the NFT platform is just one of the components. Our mission is to build digital-ownership-based sports products for a variety of users to enjoy. This mission perfectly aligns with the overall Animoca Brands’ vision to
"Drive digital property rights that help create a more equitable world."
The image below shows this Ecosystem's key components, all in different stages of development, all with their unique audiences. I will delve deeper into most of those later in this update.
The Bigger Picture
If we zoom out and see the bigger picture of where we are currently at, we can see the ecosystem has the working and/or thoroughly defined components, such as the NFT Platform and Anichess game, whereas the ones on the right are what I call "fuzzy elements."
Every single product should have its audience, proper market fit, and clear business case. Unfortunately, it's not the case right now. Our goal is to transform the fuzzy elements into working products. However, to do that, we must first take these elements through a simple 4-step procedure:
- Go through internal product reassessment;
- Measure product market fit;
- Create a crystal clear marketing plan;
- Put the product on a roadmap.
This process might feel like a step back in ecosystem development, but building a stronger foundation for the long-term vision is necessary. Delivering unvalidated experiences to the market to forcefully implement short-term token utility is not a sustainable strategy.
We need to make data-driven decisions and choose quality over speed. It is the only way to build something that sticks to the market and is scalable.
This leads us to the Dynamic Roadmap Structure, where every validated component will have its layer in the master roadmap, which will be updated and presented every quarter. Here is an example how what it can look like.
And now, let’s dig into all the questions we collected from the community!
Can you explain the changes in community management?
Changes in community management directly reflect the overall restructure of the internal organizational operations. One of my first tasks as a newly appointed CEO was understanding every single building block of every function. Do the proper audit, generate a report and implement crucial changes that will drive the organization forward. In the image below, you can see the whole process, consisting of an audit, report, changes/optimization and updated KPIs. The areas affected range from community management to operations and finances.
Not only did this lead to changes in community management, but it also allowed me to identify the missing positions in the organizational chart. We are now actively expanding our team, especially senior marketing positions, including CMO, Head of Marketing, Marketing manager, as well as Community and Social Media manager.
What is the progress with all games in development?
We have three games that are currently in different stages of development.
1. Anichess
2. Playmaker
3. Cryptorunners
Anichess is a competitive chess-based battle game. We are currently in the Gameplay design phase, which should last a couple more months. After it is completed, we will release more concrete trailers and start actively building the community. The initial public version is predicted to be launched in the third or fourth quarter of 2023.
Playmaker is a web browser-based basketball manager with straightforward gameplay. The user has to get a player pack that consists of three unique players in the form of NFT. Like real-life basketball players, each player has a different level, position and stats. There are five variations of the player packs, just like official Lympo NFTs, ranging from Common to Legendary. With enough players, the user can build his team and participate in various daily challenges to compete against other teams on the leaderboard, win weekly and monthly prizes, and participate in multiple challenges to compete against others on the leaderboard and win weekly and monthly prizes.
Playmaker is currently in the process of gameplay design and development. However, it needs proper market validation before it can be added to the Lympo roadmap.
Cryptorunners is a simple idle mobile application with the purpose of building a team of runners that can be merged to level up and upgraded with the use of a $SPORT token. The game will have quests, a leaderboard, and rewards.
Cryptorunners is currently in the development stage. However, like Playmaker, it needs proper market validation before it can be added to the Lympo roadmap.
What happens with the old Lympo APP and its users?
We plan to transition the old Lympo app user base to another Animoca Brands family portfolio - Dose. They have the perfect product set that rewards users for their running activities. Every Lympo application user will receive prizes to compensate for the time spent in-app. Rewards will be distributed through the NFT platform. The exact mechanics still have to be agreed upon with the Dose team and will be announced separately.
What is the update with the DAO?
Below you can see the different stages of the DAO project. The market research is done, and the initiation stage has recently begun. Once all the plans are in place, and we are confident enough, we will move to the execution stage.
We do not want to rush and ship the DAO just because everyone does that, and it is a cool addition. It has to have a mission. It has to unite creative sports enthusiasts that are crazy and motivated enough to make an impact.
Kahosa DAO has to be the heart and soul of the whole Ecosystem.
Our goal is to create a movement and provide the tools to compile the collective intelligence that will produce opportunities all around the globe.
DAO responsibilities will include:
- New products and ideas
- Lympo product suggestions
- Treasury management to expand the movement
- Scholarship fund management to help the ones in need.
Just imagine a situation of a very talented basketball player in Uganda who cannot afford a good coaching session or a place to work on his skills. Would it not be great to be responsible if our movement provided all the opportunities and created the next NBA legend?
I believe gathering the ones touched and blessed by sport and providing the tools is the net positive play for society.
The entry ticket to DAO will be through a dedicated NFT collection. The collection starts with manga and a sport-themed world that will have its own story and lore. We will release unique characters that will work as an entry ticket to the DAO. All NFTs are planned to have different utilities across Animoca Brands family projects and access to the HUB.
How do you plan to increase the user base?
The key to ecosystem growth is the mass adoption of the products. Every product will have its unique value proposition to offer to the different market segments.
To create a mass adoption, we will generate virality loops using affiliate marketing and various athletes as ambassadors. In these virality loops, users are incentivized to onboard more athletes, and athletes are incentivized to invite more users, etc. Below you can see an example of such a loop.
Other than that, every product will have its marketing plan directed to the concrete audience.
How do you plan to monetize the Ecosystem?
The ultimate business goal is to drive $SPORT adoption through actual digital ownership-based sports experiences and solutions.
Every single ecosystem component has its internal monetization model that consists of but is not limited to direct sales, staking as a service, transaction fees, subscription payments, new token releases, royalties, etc.
What is the strategy with NFT Staking Pools?
Currently, we have three confirmed staking pools
- Contender - Very high APY and Medium token Cap per NFT
- Champion - High APY and High token Cap per NFT
- Trophy - yet to be finalized
As for the Trophy pool, the concrete details still need to be finalized, but we want to make it unique. One idea being groomed is establishing a small tax on all or most of the ecosystem components and constantly refilling the Trophy pool with the generated revenue. Then we would allow users to earn different trophies by participating in seasonal championships and using awards to enter the pool.
The overall pool strategy is to have at least one pool live. There will be cases when we launch pools with entirely different mechanics and possibilities where multiple pools run simultaneously.
What is the situation with the Star Token Platform?
It is in the reassessment stage right now. After it is completed and we have enough validation from the market, we will put it into the master roadmap.
Will there ever be more utility keys available?
Yes, we will release more keys to the market. We will use them as a marketing tool to encourage new users to engage with the brand. We will also most likely add keys to be minted in the utility pool for a limited time with a fixed amount per wallet. For those unfamiliar with utility keys, here is a short overview.
How exactly is Animoca Brands supporting Lympo?
- Guidance and advisory - help draft strategy and execution plan.
- Funding - fund the operations
- Network - an extensive portfolio company network that we can access.
- And much, much more.
What did the token traction team do during the last six months?
We do not have a token traction team.
What is the strategy for $SPORT, $LYM, and $LMT?
The current strategy is:
- $SPORT - the primary utility token in the whole Ecosystem.
- $LYM - use it as a liquidity-supporting token.
- $LMT - we are drafting some ideas to implement it in a few gaming experiences. However, the plan is in the very early stages, and I would strongly discourage any trading of LMT, as enemy wallets still hold a significant portion of the token.
The current approach is to have the volume and price range as organic as possible and focus on delivering the best products possible. As we receive more traction and adoption, we will gradually release more tokens to the market, keeping the supply and demand in check. It is not a wise strategy to build fake hype and momentum without having much to offer and focusing on artificially inflating price and trading volume instead of building appealing products.
The market should directly reflect the value we create for the end user.
Final words
Thank you, everyone, for your questions and constructive feedback. Positive and negative. I hope this article clarifies the position that we are currently in. As for the future, I will put more time and energy into providing regular systemized updates on the overall progress of all components.
Key Takeaways
Here is a short summary of the whole article:
- Lympo is building a Digital Sports Ecosystem supported by digital property rights and consisting of various elements, including games, platforms, launchpads, DAO and more.
- Lympo will have a Dynamic Roadmap Structure, where every validated component/product of the Ecosystem will have its layer in the master roadmap, which will be updated and presented every quarter.
- Each Ecosystem product will have a unique audience, proper market fit, and clear business case.
- Changes in community management reflect more significant organizational changes - with the appointment of a new CEO company went through an internal audit, which resulted in changes/optimizations and updated KPIs.
- Lympo is actively expanding the team, with a high focus on Marketing roles and is currently looking for a CMO, Head of Marketing, Marketing manager, as well as Community and Social Media manager.
- Anichess game is in development. The idea draft and market validation are done, gameplay design is in progress. The initial public version is predicted to be launched in the third or fourth quarter of 2023.
- Playmaker and Cryptorunners games are currently in the process of gameplay design and development. However, they need proper market validation before they can be added to the Lympo roadmap.
- Kahosa DAO - is the heart and soul of the Ecosystem. The primary goal behind it is to create a movement and provide the tools to compile the collective intelligence that will produce opportunities all around the globe. As for development, market research is done, and the initiation stage has recently begun. A unique NFT collection will serve as an entry point to the DAO.
- The user base will mainly increase via created virality loops and the launches of new validated ecosystem elements with their own marketing plans.
- Every single ecosystem component has its internal monetization model that consists of but is not limited to direct sales, staking as a service, transaction fees, subscription payments, new token releases, royalties, etc.
- The overall staking pool strategy is to have at least one pool live. There will be cases when we launch pools with entirely different mechanics and possibilities where multiple pools run simultaneously.
- Start token platform is currently under assessment.
- Animoca Brands is supporting Lympo through guidance and advisory, funding, networking, and much more.
- We do not have a token traction team.
- $SPORT - the primary utility token in the whole Ecosystem.
- $LYM - use it as a liquidity-supporting token.
- $LMT - we are drafting some ideas to implement it in a few gaming experiences. However, the plan is in the very early stages, and I would strongly discourage any trading of LMT, as enemy wallets still hold a significant portion of the token.
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