TinyTap, an educational game creation platform, has raised $8.5 million to expand as a Web3 edTech platform. The funding will drive the company’s mission to enhance learning through digital, interactive games that feature blockchain technology, decentralized systems, and open-source protocols. TinyTap’s new capabilities will bring together learners, developers, and educators in a dynamic, decentralized ecosystem that enables easy access to interactive educational resources. The company will also leverage advanced data analytics and artificial intelligence to personalize learning experiences and improve student outcomes.
TinyTap Raises $8.5 Million to Scale Web3 EdTech Platform
TinyTap, a subsidiary of Animoca Brands, has successfully raised $8.5 million in a funding round participated by reputable investors such as Polygon Labs, LibertyCity Ventures, and Kingsway Capital, among others. With over 9 million users, TinyTap is currently a leading player in the Web2 educational technology (edTech) segment. However, in a bid to better value teachers and offer them more earning opportunities, the company is transitioning to Web3, and Publisher NFTs have played an essential role in this shift.
Publisher NFTs have been a game-changer for TinyTap, empowering content creators with a new model that rewards them for their efforts. Launched in Q4 2022, the project has already registered two successful auctions that generated 243 ETH or roughly $352,000 at the time of auction. The NFTs are purchased to grant co-publishing rights to the holder, giving them the ability to reach out to the target audience in their own unique way. Educational material can be accessed by anyone worldwide, and co-publishers also gain a share of the benefits that result from their efforts.
Investors are excited about TinyTap’s potential, particularly considering the income generated by NFT buyers. On average, income has increased by 8.2% from the base price, and 19.7% on a yearly basis. Creator’s focus solely on crafting high-quality content, while the platform and buyers handle distribution and promotion.
According to TinyTap’s CEO, Yogev Shelly, Publisher NFTs show that the Web3 community is willing to support education content if an appropriate incentive system is in place. Owner Misa Matsuzaki has already generated approximately $7,823 from November 2022 to March 2024 through two Publisher NFTs. She noted that TinyTap has enabled her to actualize great ideas into global educational content.
In conclusion, leveraging Publisher NFTs’ potential has allowed TinyTap to secure $8.5 million in funds for expansion, signaling a brighter future for the company as it transitions to the Web3 edTech segment.