Quick take:
- Animoca Brands has acquired the educational platform TinyTap.
- The blockchain investment company said the deal is worth $38.875 million in cash and shares.
- Animoca Brands now holds an 84.13% stake in the kids’ learning platform.
Animoca Brands has acquired education startup TinyTap in a deal worth $38.875 million in cash and shares. The leading blockchain and metaverse investment company will hold an 84.13% stake in the kids’ learning platform. The company wants to bring learning to Web3 with the new acquisition.
TinyTap is a user-generated content (UGC) educational platform that focuses on creating educational material for kids. The no-code platform enables educators to create and distribute interactive educational content while earning a usage-based revenue share.
Animoca wants to expand its blockchain technology offerings by leveraging TinyTap’s unique business model to bring learning to web3.
The new business will allow educators around the world to generate their own equity in crypto.
Educators can earn by teaching and minting courses as NFTs, among other options. Education supporters earn royalties. Supporters endorse curriculum subjects by buying ownership in subject domains and earning royalties from content hosted in those domains.
Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “Educators number among the most prolific creators and traders of content. Despite the fact that teaching is among the most important professions, educators generally struggle with funding and resources. Our goal is to mitigate some of the challenges faced by teachers everywhere.”
Siu lauded TinyTap as one of the leaders in educational UGC providers, adding that his company will now leverage blockchain technology to make new opportunities available to educators worldwide.
Yogev Shelly, CEO of TinyTap, said: “Since inception, TinyTap has worked to free educators from the limitations of traditional education systems and inadequate budgets. We empower educators to create engaging learning activities that can reach millions of kids directly and that enable them to earn based on the success of their creations.”
Shelly added that by joining Animoca Brands, his company will leverage blockchain technology to advance its vision of building a new education system “that is independent of schools and governments, and that is owned and led by educators themselves.”
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