Binance Labs Invests in Open Campus to Advance Educational Content Creation
Binance Labs, the venture capital and incubation arm of Binance, has invested $3.15M in Open Campus, a community-led Web3 education platform that is tokenizing educational content by enabling content creators to monetize the content they publish. This investment aims to onboard new users onto Web3 and attract more native users to participate in education through the launch of novel Publisher NFTs that supercharges the earning potential of content creators, and enables revenue share for co-owners.
Open Campus provides scalable infrastructure to onboard a diverse ecosystem of adopters including schools, edtechs and brands to serve as a gateway potentially bringing millions of educational content creators and learners worldwide to Web3. Open Campus has invented and launched the Publisher NFTs which allows Web3 users to participate by supporting creators, and in-turn generate revenue share. The revenue generated from content creators will be stored in smart contracts where co-owners are able to withdraw based on their contribution. In addition, the Publisher NFTs issued by Open Campus adopters can be bought and sold on the Marketplace.
Yi He, Co-Founder of Binance and Head of Binance Labs commented: "Open Campus motivates the production of high quality educational content by applying Web3 tokenomics and technology to education. At Binance Labs, we actively seek and invest in projects that facilitate the widespread adoption of Web3. The education industry, with its high potential, stands out as a key sector for onboarding users onto Web3."
TinyTap, a subsidiary of Animoca Brands and leader in the EdTech sector and user generated-content publisher in the $5 trillion education market, was the first adopter of the Open Campus. The platform is a Top 10 grossing kids mobile application on the App Store and Google Play with over 10 million families. Together with Open Campus, the platform has launched a climate change initiative with Care Bears to launch a series of educational content and Publisher NFTs. Through adopters such as TinyTap, Open Campus plans to provide on-ramp services including wallets, token payments and incentives to drive Web3 adoption.
Yat Siu, the co-founder of Animoca Brands and a council member of Open Campus, commented: "The core mission of Open Campus is to decentralize education and find innovative ways to support educators. Digital property rights are coming to education, and that's why we're thrilled to have the involvement and support of Binance Labs, which we believe will boost our efforts to onboard educators and content creators worldwide to create and tokenize content via our protocol. We look forward to working together on the frontier of education and blockchain."
Open Campus provides Smart Donations which enable grants and scholarships powered by its native token, $EDU, to be released on measurable on-chain events. Recently, the platform introduced the Global Educators Fund with Animoca Brands, a $10 million initiative that provides incentives for eligible educators or individuals to generate content intended for publication on Open Campus launch partners where courses are tokenized as Publisher NFTs, allowing educators true ownership of their content.
About Open Campus
Open Campus is a community-led protocol for educators, content creators, parents, and students. It puts decisions about learning back into the hands of educators and their students by fostering a collaborative environment, enabling teachers to create materials that appeal to the exact needs of students. Additionally, Open Campus recognizes the achievements of teachers and content creators who help students seek new knowledge, opening new revenue streams for effective educators around the world.
For more information, follow Open Campus on Twitter.
Disclaimer:
The content on this article has been prepared solely for informative purposes and should not be the basis for making investment decisions or be construed as a recommendation to engage in investment transactions or be taken to suggest an investment strategy in respect of any financial instruments or the issuers thereof.