In a recent announcement, Animoca Brands stated that it had completed the acquisition of TinyTap for USD39 million. Animoca Brands is a leading digital entertainment and property rights company, while TinyTap is an Israeli edtech platform. In the acquisition, Animoca Brands purchased 80.45 percent of the issued capital by TinyTap, thereby granting them an 84.13 percent stake in the company.
Animoca Brands aims to utilise the acquisition to create a new segment for blockchain-based education UGC(User Generated Content). This is intended to expand earning options, and thereby permit educators to generate their own equity.
The company’s intention to integrate blockchain with TinyTap’s learning platform is an effort to offer decentralized and independent control permits, authenticate and verify certificates as crypto tokens, secure digital property rights, and enhance collaborative opportunities and monetisation incentives for educational content creators.
TinyTap was founded in 2012, and is a no-code, UGC, and subscriber-based platform that offers educators the opportunity to create and distribute interactive learning content, thereby earning a share of user-based revenue.
TinyTap reaches over 8.2 million subscribers
Creators of educational content can build via the TinyTap website or mobile app. The platform is currently available for iOS, Android and is also available on popular Web platforms. Currently, TinyTap boasts of over 100,000 publishers who contribute content to the platform, and more than 200,000 interactive lessons that are accessible to users of the platform. Content on the platform is aimed at children from pre-kindergarten right up to Grade 6. Till date, more than 8.2 million families have registered on the platform.
Earlier, TinyTap has raised USD13 million from various investors that include Inimiti, Aleph Venture Capital, Omega Group Enterprises Ltd, Reinvent VC, Animoca Brands and Radiant Ventures HK.
Yat Siu, co-founder and executive chairman of Animoca Brands said that educators count among the most productive creators and traders of content. He also said that despite the importance of their role, many educators struggle to access funds and resources. Yat Siu said that one of the main goals of the company after acquiring TinyTap is to mitigate problems faced by educators around the world. He added that by integrating blockchain technology with the platform, the company will provide new monetization opportunities for educators worldwide. This would allow them to generate equity from their content, and also offer parents enhanced learning options for their children.
Yogev Shelly, CEO of TinyTap, mentioned that since its inception, TinyTap has endeavoured to liberate educators from inadequate budgets and the limitations of traditional education systems. He said that the platform enables educators to create engaging content that can be accessed directly by learners, and also enables them to earn revenue based on the popularity and success of their content. He also said that by merging with Animoca Brands, the company hoped to create an educational system based on blockchain, that is independent of traditional schools and governments – one that is owned and driven by the educators themselves.