Animoca Brands has acquired a majority stake in educational tech company TinyTap, the platform known for user-generated educational content. The acquisition sees Animoca paying $38.875 million for 80.45% of the company, bringing their total stake to 84.13%.
TinyTap, founded in 2012, is known for its platform that enables educators to create and post their own content. This model, known in the industry as user-generated content (UGC), allows educators to distribute their creations while earning a usage-based revenue share. Animoca Brands plans to use this acquisition to establish a new blockchain-based UGC segment of their company, allowing educators across the world to generate equity from their content.
“Since inception, TinyTap has worked to free educators from the limitations of traditional education systems and inadequate budgets" says Yogev Shelley, 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 a part of Animoca Brands, we will leverage 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.”
For more information on the acquisition, see the official Animoca Brands announcement.