Hong Kong-based gaming firm Animoca Brands has on Monday announced that Season 2 of Publisher non-fungible tokens (NFTs) has sold out, and has generated $333,907 for 168educators.
Animoca Brands said in a statement that the Season 2 sale of 720 Publisher NFTs, which are created by its subsidiary TinyTap, an edtech platform for educational games, and hosted and facilitated by Open Campus, a community-led Web3 education protocol, generated 538,560 EDU tokens.
It is learnt that Publisher NFTs are a new concept in education introduced by TinyTap to better empower, reward, and incentivize educational content creators and publishers.
TinyTap provides a code-free Web2 platform enabling educators to create and share interactive educational content and to receive a revenue share when that content is used by learners.
Publisher NFTs are designed to embody co-publishing rights to specific educational content made and shared on the TinyTap platform, content which already generates revenue before being linked to an NFT.
By providing digital property rights over TinyTap content, Publisher NFTs effectively provide creators of educational content with new autonomy and earning potential: each creator receives 50 percent of the net proceeds from the initial sale of their NFTs, plus a 10 percent ongoing share of the revenue share generated by the content following co-publishing efforts by the NFT holder, plus a creator royalty consisting of 5 percent of the secondary sale of their NFTs (Open Campus will collect such royalties on behalf of Season 2 creators and periodically distribute them to creators).
Because holders who buy Publisher NFTs become co-publishers of the content linked to the NFTs, they also receive a share of up to 80 percent of the revenue share generated by the content associated with their NFTs when they promote and market the content.
This frees up creators to focus on generating quality content while TinyTap and the holders of Publisher NFTs distribute and promote that content on an incentivized basis.
Holders of Publisher NFTs can also choose to market and sell their asset directly to customers outside of the TinyTap platform.
“The Season 2 Publisher NFTs sale by Open Campus and TinyTap marks a pivotal moment in the march of educational content toward becoming a new asset class,
“This success underscores the immense potential of digital property rights to unlock new earning opportunities for educators in the digital age,” said Yat Siu, the Co-Founder and Chairman of Animoca Brands.
Yogev Shelly, the Chief Executive Officer of TinyTap, said that this milestone is not just about providing better earning opportunities for educators.
“it’s about building a future in which communities play a pivotal role in shaping curricula and empowering teachers and content creators to pave a path toward true educational autonomy,” he added.
TinyTap, a subsidiary of Animoca Brands, was founded in 2012 and is the world’s largest educational games library with more than 250,000 activities made by educators and publishers including Sesame Street, Care Bears, Pinkfong, and Oxford University Press.
Games 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.
A portion of subscription revenue is shared with content creators based on the user engagement generated by their content.
TinyTap is among the top 10 grossing kids apps worldwide, delivering educational content to families worldwide with a focus on young learners (Pre-K to Grade 6), serving 10 million registered family members with content created by over 100,000 creators.
Open Campus is a community-led protocol for educators, content creators, parents, and students.
It puts decisions about learning back into the hands of educators and their students by fostering a collaborative environment, enabling teachers to create materials that appeal to the exact needs of students.
Additionally, Open Campus recognizes the achievements of teachers and content creators who help students seek new knowledge, opening new revenue streams for effective educators around the world.