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Publisher’s NFTs raise over $200,000 for 6 teachers
TinyTap, a publisher NFT company, has sold its first batch of NFTs, generating a whopping 138,926 ETH ($228,000) for the six teachers who created them and TinyTap. The news highlights a new business model for educational games and opens up a massive industry for educators and game creators. TinyTap, a subsidiary of Animoca Brands, is building a huge name for itself in educational games. Together, they are looking to develop an educational NFT industry.
TinyTap merges web3 and education
TinyTap was founded in 2012 and has one of the world’s largest educational game libraries. To illustrate, they have more than 200,000 activities created by teachers and publishers worldwide. Now it introduces a new co-publishing NFT model, which gives teachers a whole new community to create teaching materials.
Significantly, TinyTap’s first Publisher NFTs sold out quickly, meaning there is a huge market for these NFTs for educational games.
The co-publishing model generated 138,926 ETH ($228,000) at auction and gave the six teachers who created the content associated with the Publisher NFTs a total of 67.7 ETH ($111,000) between them.
How does the Publisher NFT model work?
These NFTs are bundles of educational games created on TinyTap by a teacher in a specific subject. Basically, each Publisher NFT represents co-publishing rights to a TinyTap course. Furthermore, those who purchase the NFTs take a co-publishing role and rights with TinyTap and the creator. So, in return for promoting the courses, they also share in the benefits generated.
Each participating teacher will receive 50% of the auction proceeds from their NFT courses. On top of this, they will receive a 10% ongoing share of the co-publishing work. In addition, they will also receive NFT royalties through secondary sales.
Teacher Gabi Klaf said: “I thought that discovering TinyTap’s interactive gaming platform was my biggest teaching breakthrough. But now I see that Publisher NFT is my real breakthrough. I am overjoyed that my English courses will now reach thousands of children all over the world and I can’t wait to teach a new generation of young children! Financially, I see that this endeavor will be very beneficial to me.”
Learn English with Gabi by Gabi Klaf offers an English language program. This Publisher NFT sold for 46.9 ETH, generating a whopping 22.9 ETH for teacher Gabi Klaf and TinyTap.
