Too Cool For School
Market Meditations | June 17, 2022
Blockchain technology has several use cases in education, such as record keeping of payments, credits, and credentials but there is one use case that stands out amongst the rest, intellectual property of educational content. Content creation has become a hot topic recently, especially in Web3. Animoca Brands recently purchased a majority stake in a company called TinyTap that they think will play more than a tiny role in the market.
- TinyTap is an edutech company, with a platform based on blockchain. Founded in 2012, they have a staff of 30 employees.
- Animoca acquired 80.45% of the company for more than $38 million as well as shares. The company had only raised $13 million in previous funding rounds.
- TinyTap has a no-code platform for creating and distributing interactive content.
- Creators earn revenue based on the usage of the content.
- According to the executive chairman of Animoca, Yat Siu, “educators are among the most prolific creators and traders of content.”
Blockchain technology has already disrupted the art world and currently has its sights set on the music industry, could education be next? Leaders at Animoca Brands must think it has a shot and they believe that TinyTap will allow educational content creators to “generate their own equity”.