Animoca Brands Acquired TinyTap
Animoca Brands, the company advancing digital property rights for gaming and the metaverse, announced it had acquired TinyTap, the leading Educational Tech platform for user-generated educational content.
Acquisition HighLights
Animoca Brands has acquired TinyTap, the leading platform for user-generated educational content. It has completed the acquisition of 80.45% of the issued capital of TinyTap Limited for a consideration of US$38.875 million in cash and shares. Animoca Brands now holds an 84.13% stake in TinyTap.
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. Furthermore, 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 equity.
Background of TinyTap
To begin with, TinyTap was founded in 2012 and currently employs 30 staff. The company has raised US$13 million from investors, including Aleph Venture Capital, Inimiti, Reinvent VC, Omega Group Enterprises Ltd., Radiant Ventures HK, Animoca Brands, and others.
TinyTap provides a code-free platform that empowers educators to create and share interactive educational content and to receive a revenue share when that content is used by learners. However, Creators can create TinyTap content and activities on the iPad or the TinyTap website. TinyTap is available on iOS, Android, and web platforms.
Strategic Rationale for the Acquisition
Animoca Brands will leverage TinyTap to establish a new blockchain-based business segment that will empower educators worldwide by providing them with access to new opportunities and the means to generate their equity, expanding the earning options already presented by TinyTap in its current form.
Blockchain presents considerable opportunities to the business of TinyTap.
- Independent: most educational programs managed by governments and companies, sometimes leading to problems such as conflicts of interest or inadequate standards.
- Permanent and transparent learning record: the immutable record provided by blockchain means that certificates, qualifications, or diplomas issued as crypto tokens are easily verifiable and trustworthy.
- Platform-agnostic and user-owned: blockchain assets in the possession of users exist independently of TinyTap or any other operator.
- Funding: Additionally, tokenization unlocks earning opportunities and incentives for educational content creators.
By combining TinyTap’s interactive learning platform with blockchain technology, Animoca Brands will create an environment where educational content creators can genuinely own the content they provide and receive rewards based on the educational impact.
About TinyTap
TinyTap, a subsidiary of Animoca Brands, is the world’s largest educational games library with more than 200,000 activities made by educators and publishers, including Sesame Street and Oxford University Press.
About Animoca Brands
Animoca Brands, a Deloitte Tech Fast winner and ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse.
SOURCE
https://www.animocabrands.com/animoca-brands-acquires-tinytap
