What impact does instant monetary gratification have on learning?
The results of our research suggest that Learn-and-Earn students are much more committed to learning. Sixty percent of them study every day, and spend three times more time each day than "Pay Upfront" learners.
There are two possible reasons for this:
Getting back their outlay for NFTs, plus potentially more
The fear of missing out, as the NFT character's ability to earn reduces every day
Let's look at the numbers in detail.
Learning time commitment
Practice makes perfect.
Let's look at how much time different users commit to learning:
An average “Free-to-Play” daily user spends 15 minutes a day learning English over 1.6 learning sessions.
An average “Learn-and-Earn” daily user spends 53 minutes a day over 4.2 learning sessions.
“Learn-and-Earn” users are committing 3x more time to learning English than “Free-to-Play” ones, on a daily basis
2. Retention Boost
Studying regularly is the key to language learning success.
Learn-and-Earn students are the most dedicated group by far!
Here are the number of days that different LetMeSpeak business model test groups spent studying over a 30-day period:
Learn-and-Earn - 21 days
Paid Upfront - 7.5 days
Free to Use - 2.5 days
Better educational products
Now that we have the learners' attention we can really focus on improving their educational outcomes. We're no longer competing for their attention, against social networks and other forms of entertainment. We have successfully secured their retention.
Research together for a better world
LetMeSpeak is cooperating with educational experts, linguists, neuro-scientists, and economists to measure learning the efficiency and social impact of the ‘Learn-and-Earn’ model.
We believe this new model can lead to a transformation in online education as a whole.