Animoca Brands’ Season 2 of TinyTap Publisher NFTs Sell Out in Record Time, Raising Over $333,907 for Educators
Just two years ago, nonfungible tokens (NFTs) saw a massive surge in popularity, with prices soaring through the roof. Since then, the market has seen some decline as the AI craze took some of the spotlight away. Despite this, the NFT community held strong, and in recent months, it has seen a comeback.
For example, top-tier NFTs like Bored Apes Yacht Club, Cryptopunks, and Art Blocks are making a comeback. Trading volumes for these high-profile collections are on the rise, and floor prices are bouncing back, indicating renewed interest from collectors and investors.
This resurgence suggests that, even though the overall NFT market took a hit, certain well-established and high-quality projects are gaining support and regaining value. One such project is TinyTab, a leading educational technology platform developed by Animoca Brands’ subsidiary which specializes in educational games.
Today, Animoca Brands today announced that Season 2 Publisher NFTs have officially sold out. Publisher NFTs are a novel approach in education aimed at empowering, rewarding, and incentivizing creators and publishers of educational content. These unique NFTs are managed through Open Campus, a community-driven Web3 education protocol. The successful sale of Publisher NFTs underscores the increasing significance of digital assets in the realm of education.
In this recent sale, 720 Publisher NFTs were snatched up, netting an impressive 538,560 EDU tokens (worth around $333,907 during the sale). This not only marks a successful sale but also means significant upfront and ongoing revenue for the 168 educators collaborating on the TinyTap platform who contributed to the creation of these Publisher NFTs.
The news of the record sale comes just three months after TinyTap unveiled new AI capabilities to ease content creation on the platform, which aim to transform how teachers, educators, and creators generate educational materials for their learners.
Commenting on the sale, Yat Siu, the co-founder and chairman of Animoca Brands, said:
“The Season 2 Publisher NFTs sale by Open Campus and TinyTap marks a pivotal moment in the march of educational content toward becoming a new asset class. This success underscores the immense potential of digital property rights to unlock new earning opportunities for educators in the digital age.”
Founded in 2012, TinyTap is the world’s largest educational games library with more than 250,000 activities made by educators and publishers including Sesame Street, Care Bears, Pinkfong, and Oxford University Press. The platform offers a user-friendly platform (Web2) that empowers educators to create and share interactive educational content.
In return, they have the opportunity to earn a share of the revenue when learners use their content. The unique aspect is the introduction of Publisher NFTs, which represent co-publishing rights for specific educational content on the TinyTap platform. Notably, this content already generates revenue before being linked to an NFT.
The introduction of Publisher NFTs brings a significant shift in autonomy and earning potential for educational content creators. When a creator sells their NFT, they receive 50% of the net proceeds from the initial sale, a 10% ongoing share of the revenue generated by the content through co-publishing efforts, and a 5% royalty from the secondary sale of their NFT. Open Campus manages and distributes these royalties on behalf of Season 2 creators.
As holders of Publisher NFTs become co-publishers of the associated content, they also gain a share of up to 80% of the revenue generated when they actively promote and market the content. This collaborative approach allows creators to focus on producing quality content, while TinyTap and NFT holders take on the distribution and promotion responsibilities, driven by incentives.
Yogev Shelly, the CEO of TinyTap, stated: “This milestone is not just about providing better earning opportunities for educators; it’s about building a future in which communities play a pivotal role in shaping curricula and empowering teachers and content creators to pave a path toward true educational autonomy.”
TinyTap stands out as one of the top 10 highest-grossing kids’ apps globally. Its mission revolves around providing educational content to families worldwide, specifically targeting young learners from Pre-K to Grade 6. The platform has garnered a substantial user base, boasting 10 million registered family members who engage with content crafted by an impressive community of over 100,000 creators.
Meanwhile, Publisher NFT holders also have the option to market and sell their assets directly to customers outside of the TinyTap platform. For more details on the Publisher NFT revenue share model, interested parties can refer to the Open Campus page on Medium.