Overview of the Lympo Tokens 

2022-11-18 Announcements

SPORT Token Utility — Released 2022

The SPORT token was launched in 2022 and became the primary Lympo utility token to mint, stake and purchase sports collectibles (NFTs). The SPORT token is also the main currency of the Lympo Treasury, which will be governed by a Decentralized Autonomous Organization (DAO) made of Lympo community members. The SPORT token will also have limited application in Lympo Play-and-Earn games, depending on the tokenomics of each particular game and might be used as a token to enter special game events or acquire exclusive in-game items.

LMT Token Utility — Released 2021

Released in 2021, the LMT Token was aimed to power the Lympo product ecosystem. Until 2022 LMT was the primary utility token used to mint sports digital collectible cards on the Lympo NFT platform. It was designed to be used in the whole Lympo ecosystem for various activities and applications, including the sports-related Play-and-Earn games. However, due to a hacking incident in January 2022, the utility of the LMT token was significantly impacted. Later in 2022 year, LMT Token holders received SPORT tokens based on their LMT holdings, as SPORT became the primary utility token of the Lympo NFT Platform.

LYM Token Utility — Released 2018

Initially released in 2018, the LYM token aimed to power a health data marketplace, rewarding users for gathering their health data from various data sources like apps and allowing data buyers to directly access and reward users for their collected data. In March 2021, Lympo pivoted to become a GameFi company specializing in sports-themed NFTs by acquiring the IP rights of famous sports stars and releasing NFT-driven products. LYM token holders were offered to exchange their LYM tokens for a new utility token LMT which was meant to give access to various new Lympo products. The utility of the LYM token has therefore ceased to exist in its original form. 

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