Digital entertainment, blockchain and gamification group Animoca brands has completed the acquisition of 80.45% of the issued capital of TinyTap Limited for US$38.875 million in cash and shares.
TinyTap is a user-generated content (UGC) educational technology company that provides a no-code platform enabling educators to create and distribute interactive educational content while earning a usage-based revenue share.
Animoca Brands will leverage the acquisition of TinyTap to establish a new business segment for blockchain-based UGC educational content that will allow educators worldwide to generate their own equity.
Yat Siu, co-founder and executive chairman of Animoca Brands, said: "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 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.”
Yogev Shelly, CEO of TinyTap, said: “Since inception, TinyTap has worked to free educators from the limitations of traditional education systems and inadequate budgets. 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.”
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