Animoca TinyTap Secured $8.5M Million Investment

TinyTap, an educational technology startup, is bringing kids on board to Web3 through its smart use of NFTs. The company has just secured an $8.5M funding round, which will be used for staff expansion and product development. There were a wide range of investors, including Sequoia China, Shima Capital, Polygon, Liberty City Ventures, Kingsway Capital, and GameFi Ventures. 

What is TinyTap?

TinyTap, which was founded in 2012, offers a platform for user-generated educational content and has dubbed itself as "the world's largest library of games by teachers". TinyTap began integrating NFTs and other blockchain technology into its services after being acquired by Animoca Brands last year. Animoca paid $38.8 million for an 80.45% stake in TinyTap, and since then, the startup has been focusing on its Web3 efforts.

TinyTap's Web3 strategy involves the creation of NFT collections that represent different courses. The NFT collection was launched in November 2022 and included six different NFTs, each representing a different subject. The bundle sold for 138.9 ETH, or $228,000 at the time of sale, and the new owner received co-publishing rights for the material. This innovative approach to monetizing educational content has caught the attention of Animoca Brands, which championed TinyTap's vision of disrupting the education industry with blockchain technology.

Animoca cofounder Yat Siu believes that NFTs can be a tool for educators to "better generate equity from their work and link up with co-publishers who can handle the promotion of their courses, all while offering students enhanced learning materials." He added, "This is why we're incredibly excited about the Web3 opportunities that TinyTap is exploring in the field of education."

TinyTap's success lies in its easily usable code-free platform, which allows educators to create and distribute educational content seamlessly. The Tel Aviv-based company leverages blockchain technology to give educators royalties for their content, making it the world's largest library of games by teachers.

With their innovative approach to educational content and blockchain technology, TinyTap is paving the way for the future of education. As Web3 technology becomes more widespread, companies like TinyTap will revolutionize the education industry.