Animoca Brands and TinyTap to auction first education publisher NFTs

Animoca Brands, a Hong Kong-based company promoting digital property rights for games and the open metaverse, and subsidiary TinyTap, the platform for user-generated educational games, announced Thursday the launch of Publisher non-fungible tokens (NFT).

Animoca Brands said in a statement that each Publisher NFT is linked to a bundle of educational games and other interactive activities created by educators on TinyTap’s platform (the Platform).

Six Publisher NFTs will be auctioned on OpenSea from 23:00 (UTC) November 2.

Animoca Brands acquired TinyTap earlier this year. TinyTap offers a code-free platform that empowers educators to create and share interactive educational content and receive a revenue share when that content is used by students.

Animoca Brands and TinyTap are now implementing a Web3 strategy to improve opportunities for educators worldwide to monetize the content they create and to offer parents enhanced learning opportunities for their children.

The auction of Publisher NFTs is the first step in leveraging Web3 technologies to establish an alternative decentralized education system that reasonably supports and motivates teachers.

Teachers on TinyTap already earn revenue for producing high-quality content when they receive a portion of the platform’s subscription revenue.

However, the Web3 digital property rights now enable an additional range of business models, including Publisher NFTs.

Publisher NFTs are a new offering introduced as part of TinyTap’s Web3 strategy. 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 NFT holders to directly support educational materials that are meaningful to them by assuming the role of co-publisher to promote and market the associated courses and share the benefits generated by co-publishing.

With the introduction of TinyTap’s Publisher NFTs, educators 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 along with the teacher who created it and TinyTap.

Like traditional book publishers, Publisher NFT owners are expected to actively manage and promote their Publisher NFTs to share in the revenue generated by their courses.

When a Publisher NFT is purchased, the underlying course is removed from the TinyTap subscription model and ceases to generate revenue from customer engagement until the owner of the Publisher NFT engages in marketing efforts to promote the course.

Owners of Publisher NFTs can promote and make their courses available on TinyTap to share revenue from the platform’s current subscription model, or they can promote the Publisher NFTs on other platforms independent of TinyTap.

In return, they will be entitled to receive up to 80% of any future revenue generated by their own marketing and publication of the courses.

The proceeds from the auction of Publisher NFTs will be shared with the teachers and the platform.

In addition, teachers will receive royalties on any secondary sales of NFTs and will be entitled to 10% of future revenue generated by their courses.

Publisher NFTs give educators who create content on TinyTap the potential for significantly improved earning opportunities compared to the platform’s current offerings.

Animoca Brands and TinyTap will continue to explore new and exciting ways to leverage Web3 technologies for the benefit of educators worldwide.

“The use cases for NFTs seem to be limited only by our imaginations. Today, we are proud to introduce TinyTap Publisher NFTs to support educators around the world and stimulate the production of engaging educational materials,” said Yat Siu, co-founder and managing chairman of Animoca Brands.

“Teachers are among the most prolific and important content creators, and now their content can be tokenized into NFTs, transformed into a platform for growth and opportunity,

“Our vision for Web3 is to empower educators to build their own equity and accumulate value, in the same way that NFTs are already revolutionizing art and gaming,” he added.

TinyTap CEO Yogev Shelly said across the world, 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 flow very well to the teachers,

“Web3 technologies and community are a huge opportunity to correct this problem, which is why we are proud to launch TinyTap Publisher NFTs starting with a series of courses by six great teachers on our platform,” he added .

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