How Lingo is building a rewards platform for real estate and Web3

0:01I'm ashon Addison from the Crypto Coin Show and today on blockchain interviews we have back with us Vince Hoffman from lingo discuss real world assets sustainability loyalty and rewards in crypto and web 3 Vince welcome back to the show it's great to see you again fantastic great to be here Ashton we' got a lot to catch up on I think it's been like a year a year or so since

0:23we last met yeah it's been a while and I've been seeing lingo across X and overall on the three space and seems like the community has gotten really big I know your team just launched officially so I would love to dive into all those details maybe you can kick it off from a high level for those who don't know the details into lingo how these loyalty platform

0:45works and then we can just get up to date on all the latest details 100% so just a little overview on what lingo is I'll start off with our tagline you know we're building the world's most rewarding token I mean and before I get to what we are if we look at crypto projects over the last 10 or so Years you'll find that most projects have always been very dependent

1:09on the constant influx of new users and new investors into the project to keep the project going that's why we always say there's a bit of the ponic panomics are quite widespread in the crypto space well they have been so we wanted to create a token that was really truly rewarding and it came with it a strong sense of sustainability and less risk so when really what it all boils

1:35down to is our economic model and what how what we how we do things so you know what a what a lot of projects in the past they had some of them had the best of intentions to give back to the community by giving the transaction fees directly back to them but that's just more sell pressure and just trying to capitalize on speculation and hype so what we do is we actually accumulate

1:58real estate through transaction fees we've got a 2.55% transaction fee for all unchain transactions so the more transactions happen the more real estate we can accumulate which means and we take 100% of the profit from our real estate to fuel the ecosystem rewards we're not actually tokenizing real estate though the rwa model is not something that people are

2:23most familiar with we're not tokenizing and fractionalizing real estate we are accumulating real estate through transaction and trading volumes therefore the more real estate we acquire the more rewards we can push to our community because we use 100% of the profit every month and then more rewards we push the more community grows the more it grows more transactions

2:43means more real estate more rewards so on so forth so what it's really quite cool is you know it's just you know leveraging that Community growth and that trading to get yield generating real estate which ultimately is you know pushing the rewards every every single month regardless of market conditions because you know when we purchasing real estate while it could be any sort of

3:06building that generates a monthly rental yield we specifically Target short-term rentals within the hospitality industry to optimize for that monthly yield it has to be a location that's Evergreen so the booking rates is very high throughout the year and that way we optimize for the yield so even when it's a bare Market we're still you know the real estate is still using 100% of the

3:26profit every month and the reward pool only gets larger and laar larger as we accumulate real estate and that's really the Core Essence of our economic model which is sort of the fundamental basis that gives us sort of an edge of other crypto projects yeah it's a really interesting model because as you mentioned at the beginning there's some ponics or finding ways to generate value

3:50inside of web 3 for users and I think the way that makes most sense is to yeah have something real world tangible you know real State investing has been around for decades and centuries compared to crypto so to and people understand you know R Rental income some people that's that's their main thing and you know it's sustainable so being able to get a

4:16community in a decentralized way to tie into that and earn from those rewards it makes a lot of sense and you know last time we spoke the community was growing but it's nowhere near what it is now and in the last month there's also been another launch of the token and more parts of it going officially live can you talk about the growth over 2024 and where exactly the

4:42platform is at right now 100% so let me take us back to sort of December last year and the whole team was actually here maras and we were building and doing our thing and then we came up then our CEO had an inspiration basically you know our biggest objective at that time was to build the biggest most qualified Community as quickly as possible we tried a lot of different

5:07Community growth tools up until that point and we were quite underwhelmed with the results so and we did find through a lot of research that social F social F applications were very effective at building your community Through you know you know sort of helping people earn crypto through their social media engagement and we basically took the best

5:32elements of the most successful social files reverse engineered it into our own social F and within six weeks we the community grew incredibly we had oh I can't remember all the metrics but I think it was like six million tweets oh sorry I can't remember all the Matrix but it was tons millions and millions of tweets the community grew by a few hundred

5:54thousand our email database grew to 650,000 we had millions of dollars and on inside the wallets that were connecting to us it was just a really huge success and then we started also partnering up with other great projects which wanted to also grow their communities with a qualified audience and we partnered with a lot of great projects like eth year there was

6:15reducted coin there's quite a number of them but yeah so anyway back then to now it's all about Community growth building that awesome qualified Community we had our pre-sale that did did really well and yeah we also also developed the two other applications so yeah we developed rewards base and that was basically a fully onchain experience

6:38for our community to earn rewards every single day there was a very fun little animation that would crack an egg sign a transaction very very cheap and they' get their raffle tickets between one and five raffle tickets per day because we were shipping rewards to our community every single day something that's been very important for us has been rewards and it's all about reward

6:57mechanisms and also you know how the weathers WS come from so you it's all about rewarding your community and you know making a see that you know we're walking the talk as as early as we can so any those rewards base we were the top we had the most unchain activity for quite a while on base and on ton because we also developed another Community growth tool in partnership

7:19with another team called drop and with drop we had eight we had 8 million in the end 8 to9 million new users through drop P just a lot of community growth Leaps and Bounds that we've made and as you know we recently launched we had our tge on December 12th and I can tell you the six weeks leading up to tge were like 12 to 14 hour work days every day with the

7:49team together in Dubai then Marias it's been it's been qu a r but incredible the launch you know we I think we had $50 million in trading volume Within I think the first two days about W we've already generated some platform fees and accumulated money to buy more real estate I know that our launch on cin was I think it was the greatest launch on C coin this year and yeah there's a

8:16lot of cool cool stuff in the papine wow that's very cool and now with millions of community members how can they help contribute to the future of growing the direction of the of the rewards of the real world assets do they actually get a say in the real estate where it is or where to contribute beautiful so you know the community is at the heart of everything

8:45we do yeah you know one hand it's about rewarding them you know getting new users retention of those users and an important part of that I mean we've been our community have been very instrumental and a lot of little pivots that we've made with the product with branding and all sorts from from the get-go we do a lot of AB testing with the community and we want to have the

9:04community on a sort of on a deeper level making decisions so we do have a dow in the pipeline that will be I think you'll see that in our coming road map and they will make decisions on the type of real estate that we have because we've got quite a quite a lot of real estate and things in front of us a lot of options and obviously we are making the best

9:23most well-informed decisions at the moment to acquire the real estate that we are getting But ultimately we want to empower our community to help us make those decisions and have them part of that whole sort of flow so as things evolve when we are buying real estate you know maybe it's we got a decision between France and New York with and then we have the community sort of vote

9:43on it that'd be cool I'm I will definitely check that out so with the getting involved in the Dow and actually contributing when you say the rewards go back to the community members is that for the members and people actually vote in the Dow or do they just have to hold lingo or do they actually have to stake it and contribute into the ecosystem okay so to officially you know

10:09be part of the community essentially I mean there's two things here one you would need to buy lingo and then lock it in our wallet to stake it and then obviously join the community so that you can actually have a two-way directional communication and keep updated and give your feedback but yeah you buy a lingo you lock it and while your lingo is staked you have that's where you have

10:33the opportunity that's where you earn your power miles and those power miles can then be used to get all sorts of rewards as we move forward okay so with power miles you know I think a lot of people are trying to relate loyalty or Community rewards to tradition loyalty platforms like hopefully I can fly for free around the world or get hotels and stays maybe

10:57I could stay in the if it's not short short-term rental somewhere where lingo actually owns it that would be cool with the rewards so with this kind of reward H how do you actually spend reward or how do you make Partners to actually be able to realize those rewards so as I mentioned to you earlier as so we are as we acquire real estate

11:25that generates monthly rental yield in Fiat we already have that sort of liquidity from our real estate to spend on rewards and we have numerous Partners which also open up access to other reward sort of vertical of rewards for example one of our partners is fisen app and through them we can we can actually acquire shoes through Nike Spotify accounts Spotify Netflix they've

11:50got thousands of Brands and you know through you know partners that you sort of connect and make things happen we've got the liquidity we've got the and then they give us the connection to a lot of those Brands and rewards yeah it's very cool and one thing that I know people fear about in the traditional reward system is you have some rewards and you're thinking okay I'm going to use

12:12that you know if it's for a vacation they're going to use it next year the year after but then you know something comes out from the company that the points are devalued and now your rewards are worth less is there is there a fear of that happening with web 3ward or is there a way to actually make them stay the same value or increase in value okay so it's interesting so you

12:37know while lingo is a speculative asset it's and it's not you know tokens don't represent ownership of real estate it is a fully speculative asset as I mentioned you know you set you lock your linger in your wallet you earn power miles per day depending on how much you've staked and there's different sort of tear I think is all this is going to become clear as we start publishing

12:58things and we got all sorts of reward coming through like as I mentioned we had eth year reducted coin it's a lot of other token projects which are Distributing their tokens through our platform so when you stick your lingo you're getting tokens from other projects okay so with regards to the points being devalued I don't see how that would work or how that would happen

13:19because that's not a sort of a speculative asset you would lock your lingo and then you're legible to win so many rewards which are fueled by our real estate essentially that's really cool I you know I think people who are deeper into crypto probably have more value on I'm getting more cool Innovative tokens as rewards as well that sounds good to me I'd be curious on how it

13:45would sound to somebody who's used to traditional loyalty platforms but they're just getting into web 3 do you have a d an understanding of the directed audience of people that you know are getting into crypto they're not deep in it but they're looking for loyalty platforms is it targeted to newer entrance to web 3 as well or just like the hardcore crypto

14:14natives so you know a big part of the inspiration of what got lingo going came from the acknowledgement that blockchain technology is at twice the adoption rate of the internet in the 90s we know that there's about a billion crypto curious people right now which have not dipped their toes in the water for three main reasons and that cryp and that's because crypto too complicated

14:39and hard to understand too risky and a lack of tangible value that's why we sort of created the system where it's easy to understand and easy to use and rewarding but at the end of the day when you look at traditional law to reward systems people are expected to spend thousands of dollars over months sometimes years just to get a little little bit of value in the form of a

15:00free flat or not in a hotel and that's if your points don't expire which they very often do so with lingo it's you buy it once you lock it you get rewarded for life and you can sell your tokens you can unlock your tokens and sell them back at whatever market rate there is okay that's great and with the launch now just happening sounds like it was

15:25pretty successful in on in December what's the next step for growth for 2025 I know you mentioned the Dow is part of the road map what else more real estate more rewards how else can you grow the platform to more millions of new entrance well you know right now the main now leading to this point it's been it's been such an incredible journey

15:51I think my CEO could write a book in terms of what's coming next it's all about keeping promises as he says so right now there's a big strong focus on the accumulation of real estate we've got quite a few pods opening up now we actually will be publishing our road map very soon and with that you'll be able to see a lot of the things that are happening right now but yes it's all

16:15about real estate we have a bunch of listings which we're also lining up because you know listings in those markets is also very very important factor decentralized exchanges as well as centralized exchanges so that we you know we capturing but we you know we want to capture the web 2 Market as I mentioned and people can also buy their lingo directly from the

16:37website with credit card the centralized exchanges centralized exchanges and directly from the website if people want to also worth mentioning you know one of the ways how we also going to reach the web to audience are through our ambassadors and as you know we've got two different kinds we've got our celebrities and our sort of mainstream influences made of

16:58musicians models Superstar athletes you name it you know these guys are brilliant at what they do they've got a huge audience but you know they didn't make their brand name or reputation speaking about blockchain or crypto and we all know how a lot of influences have been burned historically so we've been very very careful on how we you know

17:22leverage these sort of influencer aspect in that sort of our Superstar celebr Web Two celebrities these guys are predominantly sharing content they're going to share our content and share the content of our web 3K Wells who have made their brand name and reputation in the crypto space but essentially we're leveraging Their audience and their reach and they're going to share our

17:43sort of brand message in the value proposition to the web two Market essentially we want to do for web 3 what Nike did for shoes or what Red Bull did for energy drinks we have not had a crypto to date that's really sort of walking the talk driving that stakeholder value and you know sort of the consumer crypto we want to be that consumer crypto first consumer

18:07crypto that goes mainstream I mean just imagine if you're you know when you're walking through New York or any sort of big city the majority of those buildings are owned and they exist to sort of enrich an elite few imagine you're walking through somewhere and most of those buildings exist to reward the a community it's it's just such a beautiful Prospect and we've just

18:34launched but it's start we've already seen great signs that it's working we're already accumulating a lot of liquidity to purchase real estate so it's looking really really exciting that's that's the dream yeah no that is exciting and when you mentioned about the celebrities get makes me think about you know the millions of people that could get involved and finding the

18:57right loyalty system that gives can give big rewards but also small rewards you know I think nowadays as you mentioned things like Netflix and Spotify are are enough of an incentive to get on if you can you know save10 $20 a month you know I've seen it before in web 3 where you know you had to get a credit card and they would pay for your subscription

19:23But some sometimes that's too much for people but I feel like having something as easy as this where you can build reward and loyalty and cover some subscriptions and hopefully work your way up to a flight or a hotel and not have that as the pipe dream that's two years away something that can get started really easily I feel like that would really help people

19:45understand the power of web 3 and Community Based rewards 100% And we got have we have quite an assortment of prizes from large prizes to small prizes but yeah it's all about sort of sort of maximizing on that driving that value to the community and have them like get that feeling like oh wow I've got this in my hands I love it thank you and you know when they give

20:10that thank you and they tell their friends then you get that word of mouth because at the end of the day if you're making someone happy I mean what do you do when you when you're happy you want your friends and family to know hey I'm happy because of this you should try it and ultimately we want to drive that real value and have that knock on effect

20:26just outside of all the marketing and Co marketing verticals that we do have lined up MH well I'm looking forward to the next stages of growth Vince and you mentioned there that you know people can go to the lingo site and they don't even need to know about crypto they can use their credit card which I think is pretty cool then after that getting involved with the

20:48the Dow and the community as the Dow starts to shape up more formally and the community right now where's the best place for people to follow along with these updates and talk to the others that are already in the community beautiful so I mean Twitter and Discord are the two best places to keep up to dates I mean we are in LinkedIn as well but yeah Twitter or

21:11X I should say sorry and Discord I do hope we'll have a telegram Channel and not too distant future I'm a more of a telegram guy but Discord and X are the two best places to be sounds great I'm going to leave a link to the socials in the show notes below as well wishing you and the team all the best in 2 I hope the web 3 market conditions are prosperous for bringing in new entrance

21:35And hopefully they can get loyal and rewarded for getting involved in something as Innovative as this so thank you so much for taking the time Vince thank you for your time asham it's always a pleasure