Animoca Brands Acquires Most of Educational Platform TinyTap for .9M
Hong Kong based investor in non-fungible tokens (NFT) and decentralized gaming, Animoca Brands has taken an 84.1% stake in TinyTap, an educational content technology company. The firm put down $38.88 million in cash and shares to realize the acquisition according to a press release.
TinyTap’s platform was founded in 2012 and enables educators to create and post content. It utilizes a model known as user-generated content (UGC) with revenue based on usage. Based in Tel Aviv, Israel, the company offers roughly 200,000- activities from educators and publishers, including Sesame Street and Oxford University Press, thereby making it the largest educational games library in the world.
Animoca intends to tap into new opportunities generating educational blockchain-related content.
Yat Siu, co-founder and executive chairman of Animoca Brands, said:
“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.”
TinyTap CEO, Yogev Shelly, said:
“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 build a new education system that is independent of schools and governments.”
Animoca, currently a $5.5 billion valued company, last week revealed to hold roughly $1.5 billion worth of investments in its portfolio.
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Source: igaming
