- Edtech platform TinyTap has secured $8.5M in funding from investors, including Sequoia China, Kingsway Capital, Polygon, and more.
- The funding will boost TinyTap’s business expansion and edtech development, with a focus on its Web3 strategy and rewarding content creators through Publisher NFTs.
- The Publisher NFT model enables creators of educational content, buyers of Publisher NFTs, and TinyTap to benefit simultaneously.
- The model frees creators to focus on quality content generation, while buyers and TinyTap handle distribution and promotion.
- Since Q4 2022, NFT buyers co-publishing efforts have resulted in an average income of about 8.2% of the purchase price of the TinyTap Publisher NFTs.
TinyTap, a subsidiary of Animoca Brands and a leading edtech platform for user-generated educational games, has raised $8.5 million from investors, including Sequoia China, Liberty City Ventures, Kingsway Capital, Shima Capital, Polygon, GameFi Ventures, and others. The funds will be used to expand its business and accelerate its development in the EdTech space.
TinyTap plans to expand its successful Web2 platform, which has over 9.2 million registered members, into an alternative Web3 education system that values teachers by improving the earning opportunities available to them. Parents and communities will also be able to support and promote their preferred educational materials.
TinyTap’s Web3 strategy, launched in 2022, has been successful with two auctions of Publisher NFTs that generated 243 ETH (approximately $352,000 at times of auction).
Publisher NFTs represent co-publishing rights to one TinyTap Course, which is a curated bundle of educational games made on the TinyTap platform by one teacher in one specific subject. The proceeds from the sale of these NFTs are shared with the course creators, and the NFT buyers assume the role of co-publishers. In return for promoting and marketing the associated courses, the buyers share in the benefits generated from co-publishing efforts.
The TinyTap Publisher NFT model benefits the creators of educational content, the buyers of the Publisher NFTs, and TinyTap. This allows the creators to focus on creating quality content while TinyTap and the buyers of Publisher NFTs distribute and promote the content.
Since the TinyTap Publisher NFTs were auctioned in Q4 2022, the average income to NFT buyers resulting from their co-publishing efforts amounted to approximately 8.2% of the purchase price of the Publisher NFTs.
This innovative and equitable incentive system in education is powered by Web3 technology, which puts the power of learning back in the hands of educators, students, and the community. The success of TinyTap’s Web3 strategy demonstrates the willingness of the Web3 community to support educators and educational content through NFTs.
Misa Matsuzaki, who owns two Publisher NFTs, earned about $7,823 from November 2022 to March 2024 by co-publishing the associated courses.
She commented, “I look forward to seeing how Japan will welcome these exciting new possibilities in education! I would like to see more use cases like TinyTap Publisher NFTs, which are so much more interesting than just having NFTs sitting in our wallet!”
Yogev Shelly, CEO of TinyTap, stated, “Our Publisher NFTs genesis auctions demonstrated that the Web3 community is well suited and willing to support educators and educational content via this new powerful and equitable incentive system.”
Yat Siu, Co-founder and Executive Chairman of Animoca Brands, added, “Teachers and educators are among the most important content creators and contributors in society, and yet their wages typically do not reflect their critical importance. This is why we’re incredibly excited at the Web3 opportunities that TinyTap is exploring in the field of education.”
With the investment from its investors, TinyTap plans to continue its efforts to put the power of learning back in the hands of educators, students, and the community.