Animoca Brands Corporation Ltd has entered the EdTech sector with the acquisition of 80.45% of the issued capital of TinyTap Ltd for consideration of $55.39 million in cash and shares.
TinyTap is a user-generated content (UGC) educational technology company that provides a no-code platform enabling educators to create and distribute interactive educational content while earning a usage-based revenue share.
Animoca now holds an 84.13% stake in TinyTap and will leverage this acquisition to establish a new business segment for blockchain-based UGC educational content that will allow educators worldwide to generate their own equity.
“Proven leader”
Animoca co-founder and executive chairman Yat Siu said: “Educators number among the most prolific creators and traders of content.
“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.”
About TinyTap
TinyTap provides a code-free platform that empowers educators to create and share interactive educational content and to receive a revenue share when that content is used by learners.
Parents and teachers use TinyTap to enable the children of more than 8.2 million families registered on TinyTap to learn from more than 200,000 interactive lessons and educational games created by publishers such as Oxford University Press, The Learning Company and Sesame Street, in addition to more than 100,000 other publishers and independent contributors on the platform.
TinyTap content is currently aimed primarily at young learners from pre-kindergarten to grade 6, and the company is working on expanding its offering to learners of all ages.
TinyTap CEO Yogev Shelly said: “Since inception, TinyTap has worked to free educators from the limitations of traditional education systems and inadequate budgets.
“We empower educators to create engaging learning activities that can reach millions of kids directly and that enable them to earn based on the success of their creations.
“By becoming a part of Animoca Brands, we will leverage blockchain to advance this vision and build a new education system that is independent of schools and governments, and that is owned and led by educators themselves.”