Animoca Brands Acquires TinyTap for $38.875 Million

Animoca Brands plans to leverage blockchain technology to bring new opportunities to the already interactive educational platform.

Jun 17, 2022
by Michael
Animoca Brands Acquires TinyTap for $38.875 Million
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Animoca Brands has bought 80.45% of the issued capital of TinyTap Ltd. 84.13% of the stakes of the user-generated content (UGC) educational platform, TinyTap now belongs to Animoca Brands.

In a statement, Yat Siu, the executive chairman of Animoca Brands, said:

“Despite the fact that teaching is among the most important professions, educators generally struggle with funding and resources. Our goal is to mitigate some of the challenges faced by teachers everywhere. With our acquisition of TinyTap – a strong 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.”

What is TinyTap?

TinyTap is a no-code platform that allows educators to create and share educational content and generate revenue when the content is used by learners, primarily between pre-kindergarten to grade 6.

The app has more than 8.2 million registered families learning from over 200,000 interactive lessons created by publishers like The Learning Company and Oxford University Press.

Educators enjoy free access to the platform and its contents. Families or individuals registering on the platform subscribe to their model of choice. Then the profit of this purchase or renewal is shared with educators.

Details of the acquisition

Animoca brands will use blockchain-based services as a new frontier for interactive learning within the platform. It will open up new opportunities, especially by decentralizing control to allow users to create, request and consume contents of their choice. In addition, it will allow owners to sell or rent content as they please and tokenize content like educational games into NFTs.

Initially, the Brand held 3.73%, but they now hold 84.13% of the company. Other shareholders include the president of TinyTaps, Mario Ghio, the CEO, Guilherme Melega, and former and current members of TinyTap.

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