TinyTap, a subsidiary of Animoka Brands and a leading platform for user-generated educational games, has successfully completed its first series of NFTs from publishers auction, "TinyCourses".
The auction generated an impressive 138,926 ETH (~$228,000 during the sale), generating a total of 67.7 ETH ($111,000) divided between the six content authoring professors.
Teacher? Finally getting good money for a change? Let us explain. But first…
What is TinyTap?
Acquired in June by Animoka Brands, a leader in Web3 and Open Metaverse games, TinyTap is the world's largest library of educational games. Offers over 200,000 interactive educational activities from educators and publishers, including Sesame Street and Oxford University Press.
Founded in 2012, the Tel Aviv company is one of the top 10 kids apps in the world.
The games on TinyTap are developed using a codeless platform and can be viewed by parents as part of a TinyTap subscription or sold in bundles called contests. A portion of subscription revenue is shared with content creators based on user engagement generated by their content.
For this NFT auction, the six participating educational content creators receive 50% of the revenue from their courses, plus an ongoing 10% share of the gross revenue generated by the courses and "co-publishing" (see below). Royalty generated. Secondary sales for NFTs.
What are publisher NFTs?
Each TinyCourses publisher's NFTs represent the rights to co-publish a TinyTap course, which is "an organized collection of teacher-created educational games on a specific TinyTap subject," according to Animoca's filing with Stockhead.
NFT buyers work with TinyTap and the professor who created the course, taking on the role of co-publisher and sharing the profits from the publishing efforts in promoting and marketing the associated courses.
Win, win, win, it seems, as long as there is sustained interest in the courses.
13 times the average monthly salary
In this auction, Learn English with Gabby sold the largest amount of NFT, generating 22.9 ETH (about $37,600 at the time of the sale) for its creator, Gabby Clough.
And Animoka told us, according to OECD statistics, that's about 13.4 times the average monthly salary of an elementary school teacher in the Israeli public education system where she works. There is nothing bad. It's not that bad.
Gabby Clough said of the sale: “I have been passionately teaching ESL for over 30 years. I thought discovering TinyTap's interactive gaming platform was my greatest learning discovery. But now I see that the NFT editor is my real find.
"I am happy that my English lessons are reaching thousands of children around the world and I look forward to teaching new little ones!"
nice. Oh, and what about the extra plate she deserves? Here is the episode:
Financially, I think this company will be very beneficial for me.
Hopefully the cryptocurrency market will see the last storm and the ETH price will work in your favor.
Great potential for teachers and their content.
Yat Siew, Founder and CEO of Animoka Brands, said after the successful bid:
“We created TinyTap Publisher NFT to dramatically increase teacher income compared to TinyTap's current subscription model, freeing teachers from the cost and time associated with promoting their work.
"With this new use of NFTs, TinyTap educators can continue doing business as usual or use Web3 to focus on what they do best: deliver great content, while still being supported by a shared publisher."
Yogev Shelley, CEO of Tiny Tap added:
"This initiative has shown that teachers can be better rewarded for the important work they do. Instead of waiting for salaries to increase and education to become more important, we use Web3 to create an incentive mechanism for teachers to come together for communities and educators to generate income and create quality educational content."
This article was produced in partnership with Animoca Brands, Stockhead's promoter at the time of publication.
This article does not provide advice on any financial product. You should consider getting independent advice before making any financial decisions.