A Message From The CEO of Lympo
Dear Lympo supporters, fans and community members,
After 4.5 years at Lympo, I am leaving the company and handing over my CEO responsibilities to Lympo co-founder Tadas Maurukas. This is a well-thought-through personal decision. I will remain involved in Lympo as an advisor and will continue to care for the success of this project deeply. I trust that the company is in excellent hands to implement our ambitious future plans.
Ever since I first learned about blockchain in the summer of 2017, I could see this technology’s transformational potential. I loved it so much that only 6 months later, I launched Lympo and my first crypto token, LYM. Our dream was to empower people by enabling true data ownership of their health data and motivating an overall healthy lifestyle. We were too enthusiastic and too early at that time. With Ethereum being the only technically feasible solution back then, it soon turned out that handling multiple small low-value transactions on chain is not viable for the time being. Despite this, we have built 300.000 users strong app, which grew in the U.S., South Korea and my home country Lithuania. We have organized sports events, squat competitions, supported sports stars and grew a great team. However, the company did not succeed in reaching its business goals, with the outbreak of COVID making things only worse. I am excited to see that today we have multiple great dApps in this industry, starting with the great team of Olivex, part of the Animoca Brands family, and their Dustland app.
In 2021, Lympo was acquired by Animoca Brands and, guided by the talented Tadas Maurukas, pivoted to become a GameFi company specializing in sports-themed NFTs through acquiring IP rights of famous sports stars and releasing NFT-driven products. This story page is yet to be written with all its achievements and lessons learned. I am proud that today we have a 13 people strong team, have just released the main ecosystem token, $SPORT, and have NFT minting and NFT staking products as well as are well into preparations to develop sports-themed play-to-earn games with the acquired IP rights like those of the world’s chess champion Magnus Carlsen.
During these years at Lympo, I have experienced a true rollercoaster of crypto highs and lows, victories and despair, release of new tokens and products and dealing with hacking incidents, scaling then downsizing the team and then growing it again. Most importantly, I saw the whole blockchain space growing, new technologies entering the industry, massive influx of talented people and new use cases and industries it is impacting.
No matter what is happening with the crypto markets today, I truly believe that we are at the beginning of a great journey of launching a new and fairer internet: Web3.
My decision to leave Lympo comes from a deeper and deeper understanding of what is important for me and a strong wish to follow my values: freedom and empowerment. For this reason, I am very interested in the potential of DAOs (decentralized autonomous organizations) and how they can transform our economic system, empower users and contributors and create great incentives for even bigger and stronger product-focused communities in the Web3 space. I would love to keep in touch with more DAO enthusiasts and practitioners.
During my time off, I plan to have a learning and creativity phase and re-energize for future ventures.
I am very blessed to have met so many amazing people on this journey: at Lympo, at Animoca Brands and its extended family, and via many partnerships and collaborations in the crypto space. I remain grateful for all the steps we took together and all the important lessons I could learn from each of them.