Animoca Brands Corporation Ltd and its subsidiary TinyTap, the leading platform for user-generated educational games, will begin auctioning the second series of teacher-authored Publisher NFTs on the OpenSea marketplace tomorrow.
TinyTap provides a code-free platform that allows educators to create and share interactive educational content and to receive a share of the revenue when that content is used by learners.
TinyTap’s recently-introduced Publisher NFTs leverage Web3 technologies and community to improve earning opportunities for educators, create new earning and promotional options for co-publishers and empower the community to directly support the growth of learning.
The auction will run for 48 hours.
Disrupting traditional education delivery
Teachers on TinyTap already earn income for producing content in a traditional Web2 framework but the Web3-based Publisher NFTs allow them to significantly improve their earning opportunities.
Participating teachers receive 50% of the net proceeds from the auction of the Publisher NFTs linked to their courses and a 10% ongoing share of any revenue generated by such courses.
Meanwhile, buyers of Publisher NFTs are entitled to receive up to 80% of any revenue generated by their NFTs’ courses as a result of their promotional efforts.
“The success of the first TinyTap Publisher NFT auction demonstrated that NFTs can be leveraged to benefit teachers and educational content creators," Animoca Brands co-founder and executive chairman Yat Siu said
"We look forward to the upcoming second auction this week as we continue to work on developing this novel use case for NFTs in 2023 and beyond.”
Sold-out auction
In November, TinyTap established the viability of Publisher NFTs with a sold-out first auction, generating 138.926 ETH or about US$228,000 at that time. Of that, 67.7 ETH (about US$111,000) went to the teachers who authored the content linked to the NFTs.
The NFT that sold for the highest amount was Learn English with Gabi, which generated 22.9 ETH (about US$37,600) for its creator Gabi Klaf.
TinyTap chief executive officer Yogev Shelly said: “TinyTap’s Publisher NFTs greatly bolster our mission to build tools that empower communities to create, own and share education that is meaningful to them.
“We are thrilled to welcome the Web3 community to our creator economy for educational games and we are especially grateful to early supporters who recognized that Publisher NFTs introduce powerful new utility for digital assets, creators, educators and blockchain ecosystems.”