Animoca Brands and TinyTap to disrupt education with auction of the second set of Publisher NFTs starting December 15
Back in September, we covered Animoca Brands after the crypto-gaming startup raised $110 million in funding to advance digital property rights for gaming and build the open metaverse. Three months prior, Animoca acquired TinyTap, a Tel Aviv, Israel-based tech startup that enables limitless learning for children while helping teachers get paid. Since then, the Animoca Brands team and TinyTap teams have been working behind the scene on non-fungible tokens (NFTs) to disrupt education.
Today, Animoca Brands and TinyTap announced that the second series of teacher-authored Publisher NFTs will be auctioned on OpenSea starting at 19:00 (EST) on 15 December 2022. TinyTap is a user-generated content (UGC) educational tech startup that provides a no-code platform enabling educators to create and distribute interactive educational content while earning a usage-based revenue share.
TinyTap’s recently introduced Publisher NFTs leverage Web3 technologies and community to improve earning opportunities for educators, create new earning and promotional options for co-publishers, and empower the community to directly support the growth of learning.
Building upon its original “Parents pay Teachers” business model, TinyTap said the Publisher NFT grants co-publishing rights to a TinyTap Course, which is a curated bundle of educational games made on the TinyTap platform by one educator (“teacher”) in a specific subject. It’s a win-win for both TinyTap and the teachers.
In addition, buyers of these NFTs become co-publishers alongside TinyTap and the teacher who created the Course. In return for promoting and marketing the associated Courses, NFT buyers share in the benefits generated from co-publishing efforts.
Teachers on TinyTap already earn income for producing content in a traditional Web2 framework, but now the Web3-based Publisher NFTs allow them to significantly improve their earning opportunities.
Participating teachers receive 50% of the net proceeds from the auction of the Publisher NFTs linked to their Courses and a 10% ongoing share of any revenue generated by such Courses. Buyers of Publisher NFTs are entitled to receive up to 80% of any revenue generated by their NFTs’ Courses as a result of their promotional efforts.
In November 2022 TinyTap established the viability of Publisher NFTs with a sold-out first auction, generating 138.926 ETH (approximately US$228,000 at the time of sale). Of that, 67.7 ETH (approximately US$111,000 at the time of sale) went to the teachers who authored the content linked to the NFTs (see the announcement of 7 November 2022). The NFT that sold for the highest amount was Learn English with Gabi, which generated 22.9 ETH (approximately US$37,600 at the time of sale) for its creator Gabi Klaf, which is more than 13 times the average monthly elementary teacher’s salary in Israel where she is based (source OECD).
Commenting on the sale at the time, Gabi Klaf said: “I’ve been teaching ESL passionately for over 30 years. I thought that discovering TinyTap’s interactive game platform was my biggest teaching breakthrough, but now I see that the Publisher NFT is my real breakthrough.”
Yogev Shelly, CEO of TinyTap, said: “TinyTap’s Publisher NFTs greatly bolster our mission to build tools that empower communities to create, own, and share education that is meaningful to them. We are thrilled to welcome the Web3 community to our creator economy for educational games and we are especially grateful to early supporters who recognized that Publisher NFTs introduces powerful new utility for digital assets, creators, educators, and blockchain ecosystems.”
Misa Matsuzaki, CEO of metaverse Job Japan and buyer of two Publisher NFTs in the first auction, commented: “TinyTap now enables publishing rights for digital educational content, giving the community like us the opportunity to support the content we care about and distribute that content around the world. We are excited to share this innovative use of NFTs not only with our community but throughout all of Japan.”
Details of the second auction of Publisher NFTs
The second genesis auction of six TinyTap Publisher NFTs begins on 15 December 2022 at 19:00 (EST) and will run for 48 hours. Participation requires a crypto wallet supported by OpenSea. Join the auction at OpenSea. Terms and conditions apply. Please refer to the aforementioned OpenSea website for details. To learn more about TinyTap, you can follow them on Twitter to keep updated on future developments. You could also visit the Publisher NFT landing page or Press Kit to learn more.
TinyTap, a subsidiary of Animoca Brands, was founded in 2012 and is the world’s largest educational games library with more than 200,000 activities made by educators and publishers including Sesame Street and Oxford University Press. Games are created using TinyTap’s code-free authoring platform and can be accessed by parents as part of TinyTap’s subscription or sold directly to families as bundles.
A portion of subscription revenue is shared with content creators based on the user engagement generated by their content. TinyTap is among the top 10 grossing kids apps worldwide, delivering educational content to families in the US, Canada, Europe, and the Arab world with a focus on young learners (Pre-K to Grade 6), serving 8.2 million families with content created by over 100,000 educators.
Animoca Brands was founded in 2014 by Yat Siu. The startup focuses on driving digital property rights via NFTs and gaming to help build the open metaverse. Animoca Brands was also a Deloitte Tech Fast winner and ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse.
Animoca Brands is also a Deloitte Tech Fast winner and ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021. The company develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, Be Media, and PIXELYNX. Animoca Brands has a growing portfolio of more than 380 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others.