Author: @!0xWang1 | @RealResearchDAO

Editorial

If the popularity of Axie Infinity has made the industry see the huge potential in Play to Earn models, then Stepn's fame has irrefutably verified the rationality of the profit logic of X to Earn.

This trend of X to Earn originated from Stepn, and began to spread gradually: Move to Earn, Sing to Earn, Sleep to Earn, Write to Earn, Learn to Earn, etc. Various real-life behaviors are endowed with economic values, constantly creating new wealth stories. At the same time, it also provides us with a rich imagination for the arrival of Web 3.

However, it is worth noting that the X to Earn model has gradually proved unsustainable, and its Ponzi philosophy has been repeatedly criticized. Coupled with the current bear market, crypto products with the X to Earn logic may need to be more innovative in terms of quality and economic architecture in order to achieve good results.

This article starts from the Learnoverse and analyzes the field of the products with Learn to Earn logic.

Foreword

For newcomers to the Web3 world, systematically learning Web3-related knowledge is the first step in exploring this wonderful "new world", and it is also a crucial and important step.

The advent of the Web 3 century will bring many profound changes to the entire crypto industry and our society: the economic logic will be incorporated into real-life behaviors. As long as you learn, there will be practical rewards.

Web 3 is not only an iteration of technology, but also a deconstruction and reshaping of the current social order.

With the gradual prosperity of the Web 3 concept, more and more new users will enter this charming industry in the future. At the same time, a number of projects that drives user education will emerge.

Let’s take Learnoverse as an example.

What is Learnoverse?

Learnoverse, a new Web3 metaverse learning platform under the education company BitDegree, raised $1 million in funding on June 6 this year. The Learnoverse platform carries out knowledge education related to blockchain technology and crypto-related areas, aiming to build a metaverse crypto education system based on the Learn & Earn model. Learnoverse provides a complete system for participating in learning crypto for each role in the entire chain of knowledge learning, such as learners, lecturers, and crypto project companies. It uses the reward + learning model to motivate users (learners) to learn.

According to its official website, Learnoverse will provide a virtual world specially made for Web3 learning to gamify learning content and experiences. Learners, teachers, project parties and brands can interact through NFTs and display their knowledge status and on-chain social identities.

Is the virtual world an embodiment of the curriculum?

The biggest gimmick of Learnoverse is to visualize the behavior pattern of "learning".

In the Learnoverse metaverse, different courses are reflected in different architectural ways. Users choose their favorite courses through the behavior of "shopping", and participate in learning to obtain tokens.

For the owner of the store (e.g. intellectual property), the architecture is the physical embodiment of the NFT of its own course, and it can also be regarded as the certification of rights and interests.

In addition, Learnoverse has three features:

• Gamified user profile

  In Learnoverse, the user's personal image will be displayed through the NFT avatar owned by the user, and additional NFTs can be customized to generate a unique personal on-chain image to explore the Learnoverse metaverse - this will also become a CV of the user's activity in the crypto space.

• NFT-based user personal achievements

  Similar to the blockchain learning courses carried out in traditional education, after learning in Learnoverse and successfully passing quizzes and tests, users will receive a "blockchain certificate" representing personal achievement. But unlike traditional education, Learnoverse will provide certificates in the form of NFT.s Learning certificates are issued, and such NFTs will also be added to the user's homepage avatar, which can be displayed at any time, highlighting the user's on-chain achievements.

• Systematic and holistic learning incentives

  Unlike learning platforms that only incorporate learners into the incentive system, in Learnoverse, the lecturer of the course is part of the entire learning chain. The supply side of tokenomics will also be rewarded by the Learning Fund. For the current situation where knowledge owners fail to earn considerable income from teaching, Learn & Earn tokenomics will pay for knowledge output.

Learnoverse is a Learn & Earn bridge between projects and users

The Learn to Earn model used in Learnoverse also motivates users to participate in the learning of crypto knowledge in the form of token rewards.

• Users can obtain NFT and token rewards during learning, and embark on a unique crypto journey;
• Intellectual property owners (course instructors) can get token rewards based on the number of course audiences/the number of courses played;
• Partners (crypto project parties) attract users and talents by sponsoring learning and buying advertisements in the platform;

In the Learnoverse world, every role in the entire learning chain is a target user and an important part of Learn & Earn.

On one hand, for new users who want to learn and understand Web3, it is a learning platform, and through the corresponding economic incentives to stimulate everyone's enthusiasm for learning, users gradually explore the crypto world, and slowly feel the unique charm of the industry.

On the other hand, with the help of infrastructure in Learnoverse, such as land, buildings, character avatars and personal on-chain qualification certificates (such as various NFTs), experienced Web3 users can fully display their on-chain images in this world, allowing people from Web3 users around the world find a meeting point for mutual communication, so that crypto projects and brands have ample opportunities to link through these assets and match their needs.

Is it a real innovation?

In the traditional education field, the adoption of "blockchain in education" products such as blockchain certificates, P2P blockchain scholarships, and various incentive-based products is limited. There is currently limited potential in education. Perhaps in the future, once education has more fully embraced its digital phase, the potential for blockchain applications will expand further. But at the moment, the crypto-native education sector has huge opportunities, especially in the last year, the size of the crypto community has grown rapidly. More users who are "waiting to be fed" at the knowledge level are increasing.

From this point of view, Learnoverse starts with Web 3 education, which is in line with the transfer of industry needs to a certain extent. However, judging from the operating logic of Learnoverse's products, although its concrete learning process can deepen the user's learning image, it also objectively complicates the routine of Learn to Earn, which to a certain extent is not humane enough.

The reason why Stepn is successful is that it brings a sense of ease to users: simply buy an NFT and log in to make money. The whole process does not require redundant user operations and more effort.

Defy, one of the competing products corresponding to Stepn, adds AR elements to the mining process on the basis of Stepn mode: users need to open the APP where the runway is defined to capture value. This is in fact a dissuasion for the user.

Learnoverse has the same problem: players need to invest time in finding suitable buildings (courses) in the metaverse before starting earning.

Although Learnoverse's move will not cause trouble to users who really want to learn knowledge from it, we can't deny that in the current Learn to Earn model, the first demand for most users to participate is money incentives.

Therefore, it takes time to examine whether the Learnoverse model is innovative or not.

Team and Financing

The Learnoverse team announced on June 6 that it had received $1 million in investment. The specific investment and financing details have not been disclosed yet. However, Learnoverse was launched by BitDegree, a large learning platform. As the fundamental platform for Web3 learning, BitDegree, the parent company, must have high expectations for Learnoverse, and invested a lot of manpower and material resources to build the platform and create a visual learning metaverse. From this, it can be speculated that the disclosed million-dollar financing may only be the tip of the iceberg in the construction funds of Learnoverse.

Whether it's content, achievements or status, progress, etc., what happens in the Learnoverse will be reflected in the learning platform in real time. As a result, users can get the best learning experience and keep their data in sync on both the Learnoverse metaverse and traditional BitDegree's web platform.

At the same time, the team has begun adding the building blocks of the Learnoverse and gradually transitioning from a 2D web page presentation to a 3D CryptoDegree City. Learn & Earn tokenomics, Learndrops, NFT avatars, lands and buildings etc., a series of infrastructures within the Learnoverse world will be implemented rapidly.

Practices of "Learn & Earn" in Web3

For the Learn & Earn model that uses tokens to motivate learning in the Web3 world, various learning platforms have already been put into practice:

1. Let Me Speak

Let Me Speak was originally an Internet application software for learning English, which has been online for 4 years. It lowers the entry barrier for users to learn English through real-life scenarios and game settings. After August 2021, NFTs and tokenomics were introduced in an attempt to transform to Web3 with the "Speak To Earn" model.

In August 2021, Let Me Speak publicly pre-sold NFT "Learning Characters". The levels of NFT are divided into five levels: common, uncommon, rare, epic, and legendary. Users who hold common NFTs to learn English are free, but they will not get any income. The other four levels of NFTs need to be purchased with the stablecoin USDC, and they can also get rewards and incentives while learning for free.

In February of this year, Let Me Speak launched the beta version of the "learn while earning" mode. Users can learn English by holding NFT characters to earn rewards in the in-app token LSTAR, which can be directly exchanged for USDC in the app.

2. Seed Club

Unlike learning platforms for individual learners, Seed Club is an incubation DAO designed to help creators and emerging communities tokenize their projects.

Accelerator is currently the main form of Seed Club's operation and incubation project, which is launched in the mode of project team. The focus of socialized tokens is not whether they are issued or not, but whether they can be given corresponding value.

Therefore, Seed Club has several accelerator group incubation events each year, bringing together promising projects for a six-week study session with leading figures in various fields such as social tokens, creator economy, and cryptocurrency to discuss the construction and launch of social tokens to improve the possibilities of project’s success.

The content of Seed Club includes:

• Project feedback & coaching optimization
• Guided practices on community and token distribution skills
• One-on-one learning and mutual supervision between groups
• Experiential workshops including governance strategies and other things.

Not only is the target user group different, but the learning incentive provided by Seed Club is also unique: projects that complete six weeks of learning in Seed Club can exchange their own project tokens with SeedClub tokens to a 1%:0.3% ratio. In other words, the biggest value capture is not merely the token rewards, but the accumulation of personal connections, the ideas of project operation and the gain of knowledge. Seed Club helps students to discover their greatest value, which makes it a special "Learn" & Earn".

Conclusion

Learnoverse, which is backed by the BitDegree platform, has a professional team and strong operating funds. From the official statements, the team is bound to build Learnoverse into a professional metaverse platform. The complex imagination of the Metaverse and the expected construction of the project facilities together gave birth to a grand project. At the same time, Learnoverse gamifies knowledge learning, allowing users to have a more vivid and interesting experience in the process of knowledge exploration, providing motivation for users' learning. How to perfectly integrate "education and entertainment" with crypto native learning is not only a striking and unique signature of Learnoverse, but also a great test for the project team's understanding of the crypto ecology and the control of users' learning behaviors.

If Learnoverse really wants to be as well-built and lively and interesting as the company promises, its requirements for technical expertise are undoubtedly strict, and every brick and tile in the metaverse also requires great efforts from the technical team, but judging from the current progress of the officially disclosed project, Learnoverse still needs to prove itself with time.

Furthermore, Learnoverse tries to use the "Learn To Earn" model to combine learning with economic incentives and a positive feedback mechanism, expecting to use incentives to improve learners' interest and enthusiasm in learning, increase creators' enthusiasm for creation, and deepen creators' contribution . But the problem is that the token trading market may spawn a lot of non-concentrated knowledge learning users, leading to a space for price speculation. When learning and making money are put together, it is likely to deviate from the goal of learning itself. Whether users can truly learn to earn still remains a problem.

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