Unpacking Lingose GameFi: A guide for beginners
by Tom Nyarunda
Lingose (LING) has had tongues wagging after remaining one of the greatest assets in the virtual gaming sector in 2022. Our comprehensive guide to this GameFi offering provides an overview of this top-performing P2E game and whether it can be a good long-term investment.
What is Lingose?
Lingose GameFi is a blockchain-based gaming platform where users can play games and earn money. The games in the easy-to-use platform that are suitable for all ages can be played on multiple devices like phones or tablets, and apart from winning matches, you can also earn by completing tasks.
The platform's greatest feature is the Lingose ID, a kind of social identity passport that tracks an individual player's experience (EXP) and achievements, which it highlights to other gaming community members.
Besides showing off a player's achievements, the Lingose ID is the perfect tool to help players to level up faster, collect more rewards, and earn more EXP.
According to the game's developers, the technical term for this smart contract feature is Game ID, a Proof of Play (POP) Ethereum-based NFT that offers interoperability and compatibility on various networks, including ETH, BNB Chain, OKC Chain, and Polygon.
Lingose campaigns refer to quests and tasks offered by participating blockchain and game applications that users can complete and earn LGT tokens and EXP.
The campaigns are designed as a fun way to engage and reward gamers who participate in featured games, join tournaments or participate in airdrops. The Lingose campaign is an incentive-based tool to reward players for gaming activities.
Lingose operates an innovative tokenomics model specifically designed for the Web 3.0 ecosystem that incentivizes campaigns that pay LGT rewards.
The development team says they created these mechanics to enhance and effects of the Game ID. The Lingose GameFi tokenomics plan has set aside 25% of the 10,000,000,000 LGT tokens supply to rewards, 20% for the ecosystem fund, and 15% towards the community treasury.
How it works
Lingose has developed a blockchain-based game ID system that offers a qualification certificate by capturing gamers’ behavior via Web3 games.
The tool captures each step and achievement in each game and uses the cumulative value of users' experience to create an individualized Web3 gaming identity brand. The platform operates a dynamic economic model featuring Double NFT + Lingose Token + Governance Token to encourage users to improve their achievements.
A user's qualifications are comprehensively displayed in GameFi, and gamers interested in improving their self-worth can tap "Click to Earn."
Lingose initially launched 1,000 identity NFTs divided into five levels: rookie, veteran, expert, master, and artist. Users can choose between completing different campaign levels or staying with the same campaign but choosing other coefficient rewards.
Users can buy the number of identity NFTs corresponding to their EXP levels and need governance token LING to buy identity NFTs.
The Lingose GameFi Token
LING is the platform's Governance Token, and users get to earn the Lingose GameFi Token (LGT) as a reward when they complete campaigns. Owning the LGT greatly improves a user's behaviour qualification. Among the uses of the LGT include the following:
Earning corresponding rewards after completing a campaign
The Lingose platform campaign has two levels: ordinary user and professional user zones. The ordinary user zone is open to all gamers entering the campaign, where they earn the LGT rewards. However, the professional user zone is reserved for identity NFTs users who earn LGT rewards.
All fees are payable to the Lingose platform concerning campaigns released by game publishers, or the Lingose platform is paid in LGT.
Players use the LGT for registration before they can be allowed to participate in games.
How to start with Lingose GameFi
Lingose GameFi is for you if you're really into Web3 and gaming. Your journey starts when you visit the website and go straight to the Lingose ID section, where you can sign in via Twitter or Discord.
The next step is connecting your decentralized cryptocurrency wallet, which you must activate using BNB Chain, ETH Chain, or OKX Chain, among others.
Once you're through with it, you'll be ready to choose the blockchain game you're interested in from among the many available game-based apps. If you plan to invest in the LGT, visiting a cryptocurrency exchange is the easiest way to acquire the LING token.
Simply sign up with a reputable cryptocurrency exchange where you can buy, sell or hold the LING token via fiat currency or other popular cryptocurrencies.
Is Lingose GameFi a good investment?
Seeing that the adoption of Web3 technologies and P2E games are gaining pace among internet and blockchain users, Lingose GameFi has the potential to become a very good investment.
The easy and cheaper accessibility of the internet among people and the growing interest in P2E games in a world where interest in physical assets is becoming increasingly limited has given this platform a tremendous competitive edge.
Tom is a freelance writer with over 15-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. He is a philosophical figurehead who believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.