Animoca Brands and TinyTap to auction first education Publisher NFTs
First step in building an alternative Web3 education system that improves earning opportunities for teachers
27 October 2022 -- Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, and its subsidiary TinyTap, the 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 (the “Platform”). Six Publisher NFTs will be auctioned on OpenSea starting at 11 p.m. (UTC) on 2 November 2022.
The first six TinyTap Publisher NFTs are going on auction on 2 November 2022
Animoca Brands acquired TinyTap earlier this year (see announcement of 16 June 2022). TinyTap provides a code-free platform that empowers 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 their children.
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 incentivizes teachers.
Teachers on TinyTap already earn income for producing high-quality content when they receive a portion of the Platform’s subscription revenue. However, the digital property rights enabled by Web3 now make possible an additional range of business models, including Publisher NFTs.
Business model of 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 the NFT holders 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.
With the introduction of TinyTap’s Publisher NFTs, 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.
Similar to traditional book publishers, owners of the Publisher NFTs are expected to actively manage and promote their Publisher NFTs in order to share in the revenues 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 may promote and make their Courses available on TinyTap in order to share revenue from the Platform’s current subscription model, or they may promote the Publisher NFTs on other platforms independently from TinyTap. In return, they will be entitled to receive up to 80% of any future revenues generated by their own marketing and publishing of the Courses.
The proceeds from the auction of the 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.
Publisher NFTs provide teachers who create content on TinyTap with the potential for significantly improved earning opportunities compared to the Platform’s current offering. Animoca Brands and TinyTap will continue to investigate new and exciting ways to leverage Web3 technologies for the benefit of educators worldwide.
Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “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. Teachers are among the most prolific and important content creators and now their content can be tokenized into NFTs, transforming into a platform for growth and opportunity. Our vision for Web3 is to empower educators to build their own equity and accrue value, similarly to how NFTs are already revolutionizing art and gaming.”
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.”
Follow TinyTap on Twitter to keep updated on future developments or visit the Publisher NFT landing page to learn more.
Details of the Publisher NFTs auction
The auction for the six Publisher NFTs begins on 2 November 2022 at 11 p.m. (UTC) and will run for 48 hours. Participation requires a crypto wallet supported by OpenSea. Join the auction at https://opensea.io/collection/tinycourses.
TinyTap, a subsidiary of Animoca Brands, is the world’s largest educational games library with more than 200,000 activities made by educators and publishers including Sesame Street and Oxford University Press. 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 bundles called Courses. A portion of subscription revenue is shared with content creators based on the user engagement generated by their content.
TinyTap was founded in 2012 and is based in Tel Aviv. The company won $1 million for the most powerful answer in education by Verizon and has received investment from Aleph, Inimiti, Reinvent VC, and others. TinyTap is among the top 10 grossing kids apps worldwide, delivering educational content to families in the US, Canada, Europe, and the Arab world, with a focus 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 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 in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse. The company develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise, Notre Game, TinyTap, and Be Media. 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 follow on Twitter or Facebook.
Animoca Brands: firstname.lastname@example.org