TinyTap’s first Publisher NFTs sold out, generating 138,926 ETH (~$228,000 USD) to be shared with 6 teachers
New co-publishing NFT model allows educators to focus on content creation while leveraging the Web3 community for funding and promotion
HONG KONG, 7 November 2022 /PRNewswire/ — Animoca Brands, the company advancing digital property rights for games and the open metaverse, and its subsidiary TinyTap, the leading platform for user-generated educational games, announced today that the first batch of six TinyTap Publisher NFTs sold at auction for a total of 138,926 ETH (approximately USD 228,000 at the time of sale) and generates a total of 67.7 ETH (approximately USD 111,000 at the time of sale) for the six teachers who authored the content related to Publisher NFTs.
Each Publisher NFT represents co-publishing rights to one TinyTap course, which is a curated suite of educational games created on TinyTap by one teacher in one specific subject. NFT buyers assume the role of co-publishers along with TinyTap and the teacher who created the course, and in return for promoting and marketing the associated courses, they share in the benefits generated by co-publishing efforts.
Each participating teacher receives 50% of the net proceeds from the auction of the NFTs for their courses, as they have done previously on the TinyTap platform, plus a 10% ongoing share of any revenue generated by such courses as a result of co-publishing efforts by the NFTs owner, plus royalties generated by the secondary sale of the NFTs (see announcement of 27 October 2022).
The successful auction marks another step towards the vision of Animoca Brands and TinyTap to build an alternative Web3 education system that better values educators by improving the earning opportunities available to them.
The NFT that sold for the highest amount was Learn English with Gabiwhich generated 22.9 ETH (approximately USD 37,600 at the time of sale) for the creator Gabi Klafor about 13.4x the average monthly primary teacher salary in the public education system at Israelwhere she lives (source: OECD).
commenting on the sale, Gabi Klaf said: “I have been teaching ESL passionately for over 30 years. I thought that discovering TinyTap’s interactive game platform was my biggest teaching breakthrough; but now I see that Publisher NFT is my real breakthrough. I am overjoyed with my English courses. will now reach thousands of children all over the world, and I am excited to teach a new generation of young children! Financially, I see this endeavor as being very beneficial to me.”
Yat Siuco-founder and executive chairman of Animoca Brands, commented: “We designed TinyTap’s Publisher NFTs to significantly increase teachers’ earning potential over the current TinyTap subscription model, and to free teachers from the cost and time required to promote their work. Thanks to this innovative use of NFTs, TinyTap’s teachers can choose whether to continue business as usual, or instead use Web3 to focus on what they do best – producing great content – while getting the support of a co-publisher. »
Yogev ShellyCEO of TinyTap, said: “We are deeply grateful for the tremendous support we have received for our new and ground-breaking educational model of Publisher NFTs. This initiative has shown that it is possible to better reward educators for the critically important work they do. Instead of waiting for wages to rise and education to become more relevant, we’re using Web3 to build an incentive system that allows communities and educators to come together to create quality content while earning revenue together.”
Cici Lampethe US-based creator of the course Learn colors with superheroescommented: “Five years ago I started creating interactive games on TinyTap for my grandson to teach him himself using a hands-on approach. I can hardly believe that one of my courses is now the face of decentralized education with TinyTap and Animoca Brands, bringing supporters around the world so that all children can learn with me. In addition to rewarding me for that, the course will continue to be co-published in the future. This is a teacher’s dream!”
Ellen Weberthe US-based creator of the course Nursery rhymes and fairy talescommented: “TinyTap has been my second income for more than five years. I have always believed in TinyTap’s mission and have invited the teaching community to join me in creating revenue-generating educational games on TinyTap. This new step into Web3 makes me believe that TinyTap is well on its way to fulfilling its mission to decentralize education. I hope that educators out there will see the power and potential of the Publisher NFT model.”
Animoca Brands acquired TinyTap earlier this year (see announcement of 16 June 2022). 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. Both companies believe that Web3 solutions can improve the opportunities for educators around the world to profit from the content they create.
Educators who want to work with TinyTap to turn educational content into games and tokenize them can contact the TinyTap team at [email protected]. Follow TinyTap further Twitter to stay updated on future developments, or visit the Publisher NFT landing page to learn more.
About TinyTap
TinyTap, a subsidiary of Animoca Brands, is the world’s largest educational game library with more than 200,000 activities created by educators and publishers, including Sesame Street and Oxford University Print. The games on TinyTap are created using TinyTap’s code-free authoring platform and can be accessed by parents as part of TinyTap’s subscription or sold directly to families as packages called courses. A portion of subscription revenue is shared with content creators based on user engagement generated by their content.
TinyTap was founded in 2012 and is based in Tel Aviv. The company won 1 million dollars for the most powerful answer in education by Verizon and has received investments from Aleph, Inimiti, Reinvent VC and others. TinyTap is among the top 10 grossing children’s apps worldwide, delivering educational content to families in the US, Canada, Europe, and the Arab world, focusing on young learners (Pre-K to Grade 6), serving 8.2 million families today with content created by over 100,000 educators. For more information see the TinyTap press kit or the links below.
TinyTap – Project Page | TinyTap Website | Instagram | Facebook | Pinterest | YouTube | TikTok | Twitter
About Animoca Brands
Animoca Brands, a Deloitte Tech Fast winner and ranked on the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain and gamification working to advance digital property rights and contribute to the creation of the open metaverse. The company develops and publishes a broad portfolio of products, including REVV token and SAND token; original games included The sandbox, Mad kingsand Mad defense heroes; and products using popular intellectual properties, including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™ and Formula E. It has several subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj , Lympo, Animoca Brands Japan, Grease Monkey Games, Eden gameDarewise Entertainment, Notre Game, TinyTap, Be Media and Pixelynx. Animoca Brands has a growing portfolio of more than 380 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star atlas, and others. For more information visit www.animocabrands.com or stay tuned Twitter or Facebook.
SOURCE Animoca Brands
