Your Character will need a valid LMS Visa in order to Learn-and-Earn.
Your LMS Visa defines the remaining number of days your NFT Character is able to learn and earn. When the visa expires, you will either need to extend it or buy a new Character.
The Visa mechanic is key, as it helps
- boost motivation for everyday learning
- make the LMS economy more sustainable
The visa expiration date time limit creates urgency and a fear of missing out. Every day that you don't learn, you lose the earning opportunity for that day forever. Total potential earnings are limited by time.
Instant gratification, greed and fear of missing out create a strong desire to learn English.
The limited lifespan of playable NFT Characters is key for the long-term stability of the LMS Economy. The LMS Visa allows us to predict and manage the supply of reward tokens and balance it against demand for them using fees and incentives.
How it works
The LMS Visa is given to each Character at its inception (the time when it is minted). You activate it automatically during your first Learn-and-Earn experience or the first Invite, whichever comes first.
The length of the LMS Visa depends on your Character Rarity. The initial length of the LMS Visa for the Uncommon Character is four months, rising to eight months for Legendary Characters. Visas can be extended for an extra fee. If your Character’s Visa expires you can still learn languages, but you cannot receive in-game currency rewards unless you extend the Visa.
The LMS Visa can be extended up to three times, providing an additional 30 days of the Learn-and-Earn experience per extension. The fees for extensions are denominated in LSTARs. Here are the current rates for visa extension:
Cost of LMS Visa extension in LSTARs