What is Listen To Earn (LTE)?

A recent trend in cryptocurrency has been playing to earn game. In it users can earn money by playing blockchain games. This has led some cryptocurrency entrepreneurs to attempt other “to earn” business models. One of those models is something called “listen to earn.”

In the “listen to earn” business model the end user can earn cryptocurrency rewards by listening to music on a specific app. One project that launched on the Binance Smart Chain was the aptly named Listen to Earn (LTE) project. The project has been a complete failure by all metrics, but it’s still worth discussing so you can understand the idea of what is going on in cryptocurrency. 

What is Listen to Earn (LTE)?

Listen to Earn is a listen to earn project on the Binance Smart Chain. It was launched on June 23rd, 2022. The project supposedly allows users that download the Listen to Learn smartphone app and connect a cryptocurrency wallet to earn LTE tokens by listening to music on the app. 

Unfortunately, the whitepaper for the project does not go into any detail about how the project can provide users with earnings. But we have a pretty good idea about what is really going on with this project. 

Basically, Listen to Earn is a smartphone app that has a lot of ads on it. You can listen to copyright free music on it that is then interrupted by ads after every song and covers your screen in ads. 

Users then receive the completely worthless LTE token while the app developers receive a fiat payment for all the ads that you see. 

There’s nothing innovative about this project. It’s barely even a cryptocurrency project – it’s just a clever way for the developers to get you to watch ads that allows them to earn money by selling advertising space on the app. 

The Problems with Listen to Earn (LTE)

There are so many problems with Listen to Earn. In fact, there is nothing really positive to say about this project. Here are the problems we have with this particular project. 

Anonymous Founders

The first problem with Listen to Earn is that the project has anonymous founders. We do not like projects with anonymous founders because investors have no recourse if the founders decide to run off with investor money. 

This is a fairly common problem with anonymous founders, so it’s best to avoid projects that have them. 

Horrible Website

The next problem we have with Listen to Earn is that it has a horrible, template website. Next to no effort was put into the website by the developers and it’s clearly a template website. 

They even forgot to change out the lorem ipsum placeholder text in one section, which is a really bad look. If the founders didn’t put any effort into building the site, then they probably are not going to put any effort into the project.

Horrible Whitepaper

Another problem with Listen to Earn is that the whitepaper is horrendous. It does not say anything about the project and the business model of it. 

In fact, it appears that the whitepaper is simply copy and pasted from a play to earn game. There are references to a play to earn game in the whitepaper despite Listen to Earn not being a play to earn game project.

A rental system does not even make sense for this project, which leads us to believe that they copied an entire whitepaper. 

The whitepaper they copied isn’t even that good. It’s full of grammatical errors and is very vaguely written. 

This is a major red flag. We cannot take a project seriously when it has a whitepaper that discusses the completely wrong business model.

No Money in Liquidity Pool

One issue we have from the financial perspective is that Listen to Earn only has $2,500 in the liquidity pool according to PooCoin. 

$2,500 is basically no money in the world of cryptocurrency tokens. We like to see at least $25,000 in the liquidity pool with more obviously being better than less. 

The Business Model Makes No Sense

Finally, the business model for Listen to Earn does not make much sense. For one, why exactly does this project have to be on the blockchain? 

They could just launch the app and people in fiat currency when they listen to the music. 

This is why we believe the true business model of Listen to Earn is to receive payment from advertisers in fiat currency while paying users in a worthless cryptocurrency token. 

That’s the only explanation that really makes sense to us.

Is Listen to Earn (LTE) a Good Investment?

No, LTE is not a good investment. It’s a completely horrible investment. The project has a 24 hour trading volume of $0 and the liquidity pool is small at $2,500.

No one even trades this token. 

Just look at the price chart for the token. The price has remained flat for the past few weeks because the trading volume has been sub-$50 for the past few weeks with many of those days being $0.

Final Thoughts

Listen to Earn is a horrible project that we would not even classify as a cryptocurrency project. It appears that it is nothing more than a ploy to get people to download an app in order to get them to watch ads in exchange for worthless cryptocurrency tokens. 

This is one cryptocurrency project that you should completely avoid.