Lingo tokenizes real world assets into community rewards

0:01I'm Ashen Addison from the cryptocoin show and today on blockchain interviews we have Vince Hoffman head of ambassador relations at lingo Vince welcome to the show and it is great to have you here thank you very much for having me Ashton it's it's quite funny to be here because I remember actually seeing you very early on in my crypto career you're obviously a lot younger a lot more fresh

0:22faed I think that was in 200 and 2018 early 2018 I remember Bic to watch your shows and watch your interviews just wear wear a scute as well amazing no facial hair yeah um it's been going full circle now um having you on the show uh I appreciate you watching yeah that's been uh many M multiple crypto Cycles ago and we're still going with a much larger

0:49audience and and yes uh older with more facial hair uh as I continue to grow and also crypto continues to mature um so it's it's I'm super excited to have you guys on and I'm just as as excited about crypto in general as I was in in 2018 even though that was a a down year so to say um I I feel like we're actually gearing up for a big up year this year's

1:12already been up although we're taking a small break which I feel like is necessary um I feel like the end of this year and next year could be even more up and it's a good time to have a platform like lingo coming in which also helps serve people that aren't as familiar with crypto or can also Al introduce uh crypto and a new kind of reward system that that utilizes blockchain to people

1:37that have no idea what crypto are get actually help fuel the blockchain Run um into the more of the mainstream of the 98% of people still not involved so uh I would love to start off our conversation by just sort of a high level uh from You Vince on what you and your team have built at lingo so far um and and what the vision is and then we can dive into

1:58all the details cool so as it shows here I'm the head of ambassador relations and I've been with lingo now for one year in about eight months it's been quite a journey to see how every see everything evolve and develop it's been a a big learning curve very exciting uh what would you like to know exactly where we are right now well let's just start with a sort of a high

2:22level overview for those who haven't seen lingo maybe they're not in Twitter I know I've seen it a lot on Twitter but let's just say what is working on right now okay so right now I mean for the last six months a big Focus that we've been big thing we've been focusing on is our social fi uh which has actually it's technically launched we launched it with

2:44our community and a few Alpha groups uh tomorrow is the big push and essentially our social F will be a tool to expedite our organic Community growth because I mean at the end of at the end of the day the reason why we are all here and the reason why one of the main reasons why crypto has that exponential potential is because of community and I mean if we look at

3:07crypto projects over the last so many years I mean you would notice that a lot of crypto projects are always dependent on that constant influx of new users and new money to keep the project alive uh which we you know we call as Pony nomics they need that new money to pay off old money um and it's really what at the end of the day it's how you reward your

3:32community some projects had the be the best intentions to give transaction fees back to their Community but at the end of the day you know that's not really creating any more utility it's really just trying to capitalize on hype and speculation and it's really just more sell pressure so what we do is we take transaction fees and invest it into real estate real world assets specifically

3:56yield generating assets and what we do is we don't we know tokenize or fractionalize the real estate itself we tokenize The Profit so every month we will take 100% of the profit from our real estate to buy back our own tokens from the open market those are the tokens we distribute to our community who can then use those tokens to redeem for real life Rewards or they can unlock

4:22it at any time and sell it back for Bitcoin or whatever um but you know the point is year on year just from Trading volumes and transaction fees we can accumulate more and more real estate Each of which is buying back from the market so you know the more real estate we have means the more rewards we can distribute which means the more our community can grow

4:43which means more transaction fees which means more real estate so on so forth so we while we haven't we haven't launched yet I mean we don't know for certain nothing you know nothing's guaranteed in life we don't know that this is going to work but from everything that we have done everything that we have seen with very confident in our uh business model

5:02our economic model and how it incorporates real world assets how it accumulates those and how it really fuels the reward mechanism with which we want to grow our community wow very cool Vince and on the real world asset side do you think now is the industry is ready for uh you know people that are in real estate I feel like they're eager to have some kind of real world asset play

5:28or tokenization although said you're not actually tokenizing the real estate itself uh you know there's been a lot of news recently on Black Rock creating a uh tokenization fund with real world assets um there's the market capitalization of real world assets is is is trillions and trillions I feel like uh something needs to bite where there's going to be a trickle effect

5:51that needs to happen where something that is easy to tokenize uh all of a sudden people that clicks in their head that hey this actually brings a lot of value to the real world being able to tokenize part of this um and and in that case you're saying it's actually the profits that you're tokenizing could is that right that's 100% correct so obviously

6:12every real estate uh asset you know there are maintenance fees there are fees to pay for um you the the property itself managing the property but we take 100% of the profit and we tokenize that mhm and how when when you say you distribute the the profit to the community how do you determine who are the most active community members or is it you know everybody gets one piece one

6:39person how exactly does that work in helping grow the community so when I talk to people about lingo there's really sort of two target audiences you got your your non cryp your non- crypto native people the web 2 audience and you got your web 3 DG like us when I speak to the non-crypto people it's really when I speak about to non-crypto people about lingo it's

7:00really about Loyalty Rewards on steroids because how how it works from a user perspective they are to buy our tokens once lock it and every month they get rewarded so it works a lot like staking the more you have the more you get rewarded and it's on a pro writer basis we'll tokenize the profit of our real estate by buying back our own tokens off the open market we buy lingo tokens and

7:22we distribute those Pro writer uh to those who are who have locked their tokens in in the vault okay no that's great to know and with the rewards is it similar to what people have seen with loyalty platforms where you you use these rewards to go shopping or other sort of real world purchases yeah so you know there's a few things here because we have the mechanism to sell

7:51the tokens back into Fiat to produce those tangible rewards we can technically Supply just about any tangible rewards whether it's from vacation tickets coffee shoes etc for example one of our strategic Partners is the fisen app and they are connected with a lot of big Brands and they're integrating lingo into their platform so lingo lingo will be redeemable at all the brands

8:16connected to fisen app which includes Spotify Netflix um Nike shoes so we are establishing various Partners where our token will be able to be traded in for these real life rewards because at the end the day you know that the non-crypto people um there are three main things that stop them from coming into the space one that crypto is too complicated

8:39and hard to understand lack of tangible value uh and so too complicated too risky and a lack of value and well we tackle that with a use case that's easy to understand because our token uh rewards with real life tangible experiences and tangible products it's less risky because our economic models filled by real estate and it's essentially Loyalty Rewards on steroids

9:05and just to touch on one little point that you mentioned earlier you know one of the things that are in a sense missing from the crypto space I mean what over the Journey of the crypto industry a lot of projects have been trying to make that connection between reality and the digital world and obviously there are so there's there's an almost unlimited amount of

9:24ways that these things can be done but there's always a few little things that are missing from the picture to get it really really right um and that's where we are really confident with our economic model because it's all about rewarding your stakeholders um I could ramble on about stakeholder Centric like strategies and and methodologies but the point is you know

9:46if you're rewarding your community to the maximum of your ability in a sustainable way you know you're going to drive the volume you're going to get collect the people it's all about making sure that you've got your community at heart and that's the sort of the point of how we've geared the economic model and the Ws ecosystem so it really connects to the real world not in ter

10:06not just in terms of our economic model and the real real estate that's fueling it but the rewards as well yeah very well said Vince and I will ask one thing about the the mechanism or the the economy of it most travel rewards platforms that I can think of that I've been using you know eventually the the points are worth the same or they they make it worth less somehow you know all

10:31of a sudden points are are half of what they used to be especially for people that were accumulating for years and then you know they were like I'm going to save it up for one day and then they end up being worth less um is there a way that lingo mechanism is able to keep that sustained value or even better make it worth more as time goes on so look there's a few things to

10:55tackle here before I get to that it's worth mentioning that one of our co-founders is David AMS Salam and he's the founder of John Paul which grew to be the biggest consur company in premium Loyalty Rewards and he exited for 150 million in in 2016 uh and when you when you look at traditional loyalty rewards programs you know people are expected to spend

11:15thousands of dollars over months sometimes years just to get a little bit of value in the form of a free flight or night in a hotel and that's if your points don't expire which they very often do M so with lingo while we can't you know guarantee that the price is going to be at any specific level when you consider that you purchase once you get rewarded every month for Life as we

11:38move forward in time there's more and more real estate coming into the picture which means more buyer pressure which means more rewards distributed so even when we get to the bare market and the general sentiment of stakeholders is to sell their Tokens The Real Estate that we have accumulated is not going to care about Market sentiments they still have

11:58to buy back uh every single month with 100% of the profit so as we move forward in time there should be a general uptrend because you know we're not relying on new users I mean we are very big on marketing and hype I think it's a very very important thing to sort of get that initial grasp of the community but at the end of the day you do need something that's beyond hype and

12:20speculation moving into into into the future and that's where our real estate sort of gives us that nice cushion and bar pressure definitely and on bringing in more community and and the marketing side I'm guessing you have to make a lot of different Partnerships I'd love to talk about the web two side and the web 3 side you know on on the crypto side

12:41I've seen a lot of K's um a huge group of investors on your websites like billions of dollars under management maybe you can just touch on that and who is currently involved that's a that that's a question that's a little bit out of my perview I remember some of the names I know we've got uh I know there's quite a few big names we've had a lot of momentum in the

13:04last few weeks and months I know that we've raised in excess of $9 million in9 or $10 million in private Investments a lot of those have actually been Webb to uh web 2 business people who are interested in web 3 and then there's a lot also now a lot of web 3dg but here in macious where I live I know that we've got quite a few uh wealthy people well-known people around the island that

13:28have invested and also a lot of notable people around the world we've got uh this Kenny of the mans Network um I think Ben of lamire there's quite a long list of investors I wouldn't be able to name them our CCO would be much better at that point yeah no problem that's great to hear though um and on the web two side you know you have to be able to be able to spend the

13:49points you have to probably make some kind of Partnerships with you know the airline so to say or the shopping center um what how does that work in making sure that the points and the reward points actually can be spent on what people want to use them for so look here so as for a user that's you know they got their their lingo application they got their block their tokens every month

14:12they get their rewards let's say let's say I want to use their they want to use their rewards to book a hotel in Spain uh because our application has the mechanism to sell the tokens back into Fiat to pay the hotel they don't need to there's no we don't need the hotels are they don't need to worry about accepting a speculative crypto asset that's the

14:34point I wanted to make because we have that mechanism we can include just about any tangible reward oh that's a great point so you can really just sell it back have cash and then and buy whatever you want yeah we I mean we are actually locking down quite a few big Partnerships some of which I can't talk about but in terms of how we deliver on the value proposition at the hotels and

14:54products because it's they are being paid in Fiat we don't necessarily need a partner with them to lock that down mhm very cool and when you're looking to enter into start gaining rewards from what I understand you have to get some lingo coins and stake them um is there any restrictions on you know somebody want to get started but they only have a few dollars um or if you stake the most

15:20you can get higher percentages is that worked out yet well look the token's not live yet we've just launched our social file will run for about 3 weeks leading into our community pre-sale and then the token generation event and listings should happen some weeks after that um what I wanted to tell you yeah the more you buy the more you buy and stake the more you will get rewarded

15:47also worth noting while people can be can will be able to purchase the token on exchanges where where we are listed we also are to have the option on our website on our application for the web to people who don't know how to use exchanges to use their credit card uh and buy it directly because I mean a lot of attention and focus has been put on making the application easy to

16:08understand easy to use uh and sort of making things as frictionless and as streamlined as possible and one last thing which was quite interesting I thought that was it right you focus on making easy to understand easy to use for web two people and that we sort of got that lock down quite nicely and then there was a bit of a flip I was like guys we need to make this product sticky

16:28people need to pick it up they need to have fun and then must not want to put it down so that's actually been quite a new interesting thing that's being focused on with regards to our products um yeah very interesting and yeah I could see you know say you you stake some coins and then you're done you just wait for the rewards so you have something up uh the team's sleeve where

16:51there's a lot more interaction or gamification keep you coming back every day or every week exactly I'm looking forward to it and and so as this social fi uh part has launched where can people learn more and get involved with this and follow along for the updates of the timeline for the pre-sale and the launch of the rewards platform to get involved on on day

17:17one well look the best thing people can do is follow us on Twitter join us on Discord um as I mentioned social far has launched the big push is about to start with that uh there's no money that's needed it's just about you know logging in with your with your X account uh Discord doing a few simple tasks with social media you can earn all sorts of points and there games and

17:42tokens um yeah and if people are interested in taking part in the community pre-sale the social file is going to be very important for them because through the social file you can actually lock down a whit listing spot because I don't suspect the community pre-sale is going to last very long I think it's going to sell out quite quickly so the social file be very very

17:59good for people to get that wild listing spot so they can actually you know get a bag before it's listed very cool looking forward to it and um at when the socialy part launches I can leave a link to that in the show notes below I'll also leave the the X and the Discord as you mentioned and the website so people can check out learn more about it follow

18:19along for the launch I'm personally excited to to see the next stages of growth uh it's been there's been a lot of hype around it and um I I'd love to get some Rewards so I could do some traveling as well maybe to the next crypto conference or maybe just on vacation uh if if crypto people can ever take vacation um because the the market never sleeps um so thank you so much

18:40Vince for for the information uh concise and um different because we need a rewards platform that's going to be sustainable and and better and and hopefully web 3 can do it here and real world assets can make a big play in this because I feel like we're so early on in that part part of crypto as well that eventually the whole world will be tokenized and this could play a big part

19:04in it so appreciate your time today 100% one one last thing I wanted to quickly touch on which you kind of mentioned earlier and I forgot to touch on you know one of our unfair advantages which unfair advantages which is how we are reaching that mainstream audience and sort of grabbing people is primarily through our ambassadors and we've got two different kinds we've got our

19:25celebrities and our mainstream influences comprised of sports Stars Netflix actresses musicians models you name it um and I mean these guys are brilliant at what they do in sports and in the Arts but they are not an authority to speak about blockchain or crypto therefore none of them are actually creating content for us they will be sharing content every single

19:47week across platforms for two years and they have about 300 to 350 million followers themselves predominantly non- crypto people and then on the other side we've got our crypto chain care Wells and we've got hundreds it's around 400 at the moment we got different sort of we got our in-house care Wells invested care Wells and some paid promos but at the end of the day you know what we want

20:12to do for web 3 it's we want to do for web 3 what Nike did for shoes or what Red Bull did for energy drinks and our ambassadors are our sort of the main way that we are going to get our message out to the audience and build that brand equity and get that message out yeah wow huge audience and um let's let's make an impact with it thank you so much Vince 100% thank you for your

20:38time Ashton