According to a press statement, gaming investment firm Animoca Brands has purchased more than 80% of TinyTap for $38.88 million in cash and shares.
TinyTap is an educational content technology startup that allows educators to produce and share information—a concept known as user-generated content (UGC)—while receiving a revenue share depending on usage. It was created in 2012.
According to the announcement by the Israel-based firm, Tel Aviv has the world’s largest educational games library, with over 200,000 activities from educators and publishers.
With the acquisition, Animoca Brands now owns 84.1% of TinyTap.
Animoca reported last week that its investment portfolio was worth $1.5 billion. It secured over $360 million in a fundraising round earlier this year at a valuation of $5.5 billion.
Animoca stated that it would leverage TinyTap’s technology to create instructional blockchain content. Animoca further stated that it would leverage its new acquisition to establish a platform for blockchain-based educational user-generated content (UGC).
Yat Siu, co-founder and executive chairman of Animoca Brands, stated, “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.”
In the same press statement, 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 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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