Edtech initiative TinyTap by Animoca Brands has recently raised $8.5M from Polygon and other blockchain investors.
Why is this significant? Web3 seems to tilt more towards gaming and finance, so this shows how blockchain plays a role in democratizing education.
By using decentralized data, Web3 enables learners to gather knowledge from various sources making education more accessible.
TinyTap is a subsidiary of Animoca Brands that allows users to create educational games based on learning exercises. It encourages creativity, learning and empowers educators and families.
TinyTap allows for inclusivity as teachers and carers can enjoy innovative methods to educate their kids. One can also tailor activities to suit the unique needs of each kid.
Earlier, the company auctioned the first education publisher NFTs to lend a voice to teachers and educators on Web3. Now, it has partnered with Polygon, Sequoia China, Liberty City Ventures, Kingsway Capital, Shima Capital, and others to promote edtech growth.
Reacting to the feat by TinyTap, Animoca Brands’ co-founder, Yat Siu, said:
“Even though educators and teachers are among the most important content creators in a society, most times, their pay does not mirror their value. We are thrilled about the Web3 prospects TinyTap is bringing to education.”
In the Q&A of Open Campus, Yogev Shelly, the co-founder of TinyTap, shared how parents can bring their kids into Web3 learning.
He stated that families can pay FIAT or $EDU to access TinyTap. In either case, they will get a custodial wallet containing $EDU. With that, they will access the educational apps and full of fun learning content. Moreover, they will be able to record their achievements and get rewards. With this, he hopes that more families will be inspired to get involved in crypto for educational purposes.
Parental involvement in education is very important for children’s academic performance. TinyTap supports parental involvement with its movements in the Web3 space. We believe that the fundraising will be used in an effective way to improve education systems and ingratiate Web3.