TinyTap, an educational technology platform and a subsidiary of Animoca Brands has received an $8.5 million boost to bring more gamified education contents to the users. As announced by the parent company, TinyTap scored support from top investors in the space including Sequoia China, Liberty City Ventures, Kingsway Capital, Shima Capital, Polygon, and GameFi Ventures among others.
The rate of funding in the Web3.0 ecosystem has slowed in recent times as the fall of FTX and other mainstream crypto entities generally dampened investor’s sentiments. The embrace of TinyTap by these high profile investors is a testament to its revolutionary technology to use the ethos of Web3.0 to educate users across the board.
The TinyTap Concept
TinyTap employs a model whereby different publishers can create innovative games to educate the platform’s users. Since its inception in 2012, the startup has on boarded top brands including Sesame Street and Oxford University Press. At the moment, TinyTap boasts of more than 100,000 creators, all serving as many as 9.2 million families.
The startup will utilize the newly raised funding to support its business expansion while also accelerating the growth of the EdTech space.
Since acquiring TinyTap in 2022, the education platform has launched its Web3.0 platform where it introduced the concept of Publisher NFTs. This innovation permits content creators to revenue in a rather sustainable way.
“Our Publisher NFTs genesis auctions demonstrated that the Web3 community is well suited and willing to support educators and educational content via this new powerful and equitable incentive system,” Yogev Shelly, CEO of TinyTap said in a statement, “By pairing educational content creators with interested promoters, we are able to benefit all parties fairly and take a significant step in our goal to put the power of learning back in the hands of educators, students, and the community.”
Animoca Brands is Supporting Diverse Innovations
Many believe that the eventual growth and adoption of the Web3.0 ecosystem as well as its attendant innovation will only come when there is a channel for the Real World application of the technologies.
This is what Animoca Brands is known for as it has a rich history of raising funds to support all of the crucial aspects of blockchain including the metaverse, Non-Fungible Tokens (NFTs) and gaming amongst others.
The post Animoca Brands Subsidiary TinyTap Gets New Boost to Decentralize Education appeared first on CoinGape.
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