The combination of TinyTap and Animoca Brands will build a community where education content creators will genuinely own their content.
Gaming investment firm Animoca Brands has once again taken a step further in expanding its blockchain portfolio by acquiring an 80.45% stake in blockchain-based education tech platform TinyTap. The gaming investment firm announced the latest acquisition in a press release, revealing that it was worth $38.88 million in cash and shares. Following the purchase, Animoca Brands now has an 84.1% stake in TinyTap. Before the latest investment, Animoca Brands had a 3.73% stake in the platform.
According to the announcement, Animoca Brands intends to kick start a new blockchain-based business segment for educators by leveraging TinyTap. The new business segment will provide new opportunities and access to generate personal equity. Also, there would be an expansion of the earning options that TinyTap had put into existence.
Educators have free access to TinyTap’s creation platform and its content. The education tech platform allows teachers to create and share education content while receiving revenue when learners use their content. The tech platform generates its revenue from paid subscriptions. Between 2019 and the 30th of April 2022, TinyTap has generated revenues of $17.6 million. Over 8.2 million families are registered on the app, learning from more than 200,000 interactive educational games and interactive lessons. Although the content is primarily for pre-kindergarten to grade 6 learners, the education system plans to expand its services to accommodate older learners.
Animoca Brands Buys Large Stake in TinyTap
The combination of TinyTap and Animoca Brands will build a community where education content creators will genuinely own their content. Additionally, these content creators will get rewards for the educational impact they generate with each content. Integrating Animoca Brands with TinyTap will allow educators to gain from their work transparently. Moreso, they will be able to spread their work to more learners across the globe.
Animoca Brands co-founder and executive chairman Yat Siu noted that educators have challenges with funding and resources despite teaching being an important profession. He continued:
“Our goal is to mitigate some of the challenges faced by teachers everywhere. With our acquisition of TinyTap – a strong and proven leader in the field of UGC education – we will leverage blockchain to make new opportunities available to educators worldwide, allowing them to generate equity from their creations while offering parents enhanced learning opportunities for their kids.”
TinyTap CEO Yogev Shelly also weighed in on the Animoca Brands 80.45% stake. He said the educational platform would leverage blockchain in advancing its vision. Shelly added that the TinyTap will “build a new education system that is independent of school and governments, and that is owned and led by educators themselves.”
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Source: https://www.coinspeaker.com/animoca-brands-stake-tinytap/