Animoca Brands acquires most of educational user-generated content firm TinyTap for $38.9M
Interested in learning what's next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Learn more.
Animoca Brands has acquired TinyTap, the platform for user-generated educational content. Animoca paid $38.875 million for 80.45% of the issued capital of TinyTap Ltd.
Overall, Animoca Brands now holds an 84.13% stake in TinyTap, which provides a user-generated content (UGC) educational no-code tech platform. It enables educators to create and distribute interactive educational content while earning a usage-based revenue share.
Animoca Brands will leverage the acquisition of TinyTap to establish a new business segment for blockchain-based UGC educational content that will allow educators worldwide to generate their own equity. Animoca Brands holds portfolio investments worth $1.5 billion in crypto and blockchain gaming across 340 companies.
“Educators number among the most prolific creators and traders of content,” Yat Siu, executive chairman of Animoca Brands, said in a statement. “Despite the fact that teaching is among the most important professions, educators generally struggle with funding and resources. Our goal is to mitigate some of the challenges faced by teachers everywhere. With our acquisition of TinyTap – a strong and proven leader in the field of UGC education – we will leverage blockchain to make new opportunities available to educators worldwide, allowing them to generate equity from their creations while offering parents enhanced learning opportunities for their kids.”
MetaBeat 2022
MetaBeat will bring together metaverse thought leaders to give guidance on how metaverse technology will transform the way all industries communicate and do
Read more on venturebeat.com
