Animoca Brands Corporation Ltd and its subsidiary TinyTap, a leading platform for user-generated educational games, today announced the launch of Publisher non-fungible tokens (NFTs).
Each Publisher NFT is linked to a bundle of educational games and other interactive activities created by teachers on TinyTap’s platform. Six Publisher NFTs will be auctioned on OpenSea on November 2, 2022.
Animoca Brands acquired TinyTap earlier this year. The company provides a code-free platform allowing educators to create and share interactive educational content and to receive a revenue share when that content is used by learners.
Animoca Brands and TinyTap are now implementing a Web3 strategy to improve opportunities for educators worldwide to earn from the content they create, and to offer parents enhanced learning opportunities for children.
The companies believe that the auction of the Publisher NFTs is the first step in leveraging Web3 technologies to establish an alternative decentralized education system that fairly supports and incentivises teachers.
Teachers on TinyTap already earn income for producing high-quality content when they receive a portion of the Platform’s subscription revenue. The digital property rights enabled by Web3 now make possible an additional range of business models, including Publisher NFTs.
Each Publisher NFT represents co-publishing rights to a course, which is a bundle of educational games created on the platform by one teacher in a specific subject.
These NFTs allow the holder to directly support educational material that is meaningful to them by taking on the role of co-publisher to promote and market the associated courses and share in the benefits generated from co-publishing efforts.
Teachers who create content on the platform will be able to offer publishing rights for their courses via this new type of digital asset. The NFT holders become co-publishers of the content alongside the teacher who created it and TinyTap.
The proceeds from the auction of Publisher NFTs will be shared with the teachers and the platform. Additionally, teachers will receive royalties on any secondary sales of the NFTs and will be entitled to 10% of future revenue generated by their courses.
Animoca Brands and TinyTap will continue to investigate new and exciting ways to leverage Web3 technologies for the benefit of educators worldwide.
Co-founder and executive chairman of Animoca Brands Yat Siu said: “The use cases for NFTs appear to be limited only by our imaginations.
“Today we are proud to present TinyTap Publisher NFTs to support teachers around the world and incentivize the production of engaging educational material.”
Yogev Shelly, CEO of TinyTap, said: “Worldwide, teachers are undervalued, underpaid, and face constant resource shortages and obstacles that hinder student learning. Education systems tend to have high budgets, but in most cases, the benefits do not trickle down very well to teachers.
“Web3 technologies and communities are a tremendous opportunity to correct this problem and that’s why we are proud to launch TinyTap Publisher NFTs starting with a line-up of courses by six great teachers on our platform.”