Second stage of the Lympo NFTs ecosystem introduces social tokens based on sports stars
Lympo is pleased to announce Lympo Star Tokens, which are fungible multi-utility tokens based on sports celebrities.
Previously, in Stage 1 of the Lympo ecosystem development plan, Lympo enabled its users to mint NFTs of world-famous athletes and custom sports characters through its website. Starting in Stage 2, those Lympo NFTs will gain additional value and utility with the launch of the Lympo Star Token.
Lympo Star Token: intro & features
Lympo Star Tokens are fungible multi-utility tokens based on athletes and sports stars who have partnerships with Lympo. These tokens will allow their holders to interact with sports personalities by voting on various decisions that the stars will take. Voting in the new voting system will reward users with additional Lympo Star Tokens. This will make participating in the voting resemble staking tokens in a pool.
Lympo Star Tokens will also allow holders to participate in lotteries, questionnaires and polls and win exclusive prizes, including signed memorabilia and high-end opportunities like meeting the star or training with them.
Additionally, Lympo Star Tokens will be used in Lympo’s upcoming gaming environment to upgrade players’ in-game characters and skills.
Lympo Star Token distribution methods
Holders of Lympo NFTs will be able to stake an NFT in order to be rewarded with Lympo Star Tokens of the corresponding athlete. The number of Lympo Star Tokens received for staking will depend on the rarity of the NFT staked.
Holders of LMT tokens will be able to exchange a limited amount of LMT into Lympo Star Tokens during an initial token offering at a discounted rate.
Lympo Star Tokens will be tradeable via Lympo Star Token/LMT liquidity pool on decentralized exchanges and, later, on Lympo’s own exchange solution. The new Lympo Star Token platform will allow users to buy LMT tokens using a credit card and then exchange the LMT into their Lympo Star Tokens of choice.
Ada Jonuse, the CEO of Lympo, said: “Lympo Star Tokens are an ideal way for sports personalities to engage with their fans and we are confident that all athlete celebrities will find these tokens useful. The Lympo Star Token platform is unique in its ability to merge the concept of fan tokens and NFTs. By making the barrier of entry almost non-existent, increasing our adoption rates, and broadening the user base, we are ensuring that the Lympo NFT ecosystem will become a major mainstream consumer product for the world of sports.”
Lympo Star Token platform development plans
The Lympo Star Token platform will be released as a new Lympo product targeted at non-crypto users. This platform will act as a hub for all activity on Lympo related to Lympo Star Tokens. It will allow users to create profiles, add a credit card, connect their crypto wallet, and access their Lympo tokens. It will also enable users to access voting, questionnaires and lotteries, and read the latest news about every available type of Lympo Star Token.
Lympo plans to release the first version of the Lympo Star Token platform before the end of 2021. NFT staking, the first Lympo Star Tokens, and a voting mechanism will be released prior to that.
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