Digital entertainment and property rights company Animoca Brands, announced on Thursday the completed acquisition of Israeli education-tech and interactive games platform TinyTap, for $ 38.75 million. Animoca Brands paid for 80.45 percent of TinyTap’s issued capital, granting them an 84.13 percent stake in the company.
Animoca Brands will use the acquisition to establish a new segment for blockchain-based educational UGC, which will expand earning options and enable educators to generate their own equity.
Integrating blockchain capabilities into TinyTap’s learning platform will offer independent and decentralized control permits, secure digital property rights, authenticate and verify certificates as crypto tokens, and give rise to additional collaborative opportunities as well as monetization incentives for educational content creators.
Founded in 2012, TinyTap is a no-code, user-generated content (UGC), and subscriber-based platform that grants educators the ability to create and distribute interactive educational content, earning them a share of user-based revenue. Creators can build TinyTap content via its website or through an iPad, and it is available on iOS, Android, and web platforms. More than 100,000 publishers contribute to the platform, and there are more than 200,000 interactive lessons and games currently available. Content is geared towards children in pre-kindergarten through grade 6 children, and more than more than 8.2 million families are registered on the platform, to date.
The company has raised $ 13 million from investors Aleph Venture Capital, Inimiti, Reinvent VC, Omega Group Enterprises Ltd., Radiant Ventures HK, and Animoca Brands, among others.
“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, ”said Yat Siu, co-founder and executive chairman of Animoca Brands. “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 the 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. “Since inception, TinyTap has worked to free educators from the limitations of traditional education systems and inadequate budgets,” said Yogev Shelly, CEO of TinyTap. “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 part of Animoca Brands, we will leverage the 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. ”