Animoca Brands is the company advancing digital property rights for gaming and the open metaverse. The company’s subsidiary, TinyTap is the leading platform for user-generated educational games. Today TinyTap announced that the first batch of six TinyTap Publisher NFTs sold at auction for a total of 138.926 ETH. This generated a total 67.7 ETH for the six teachers who authored the content linked to the Publisher NFTs.
How The Proceeds Are To Be Split Amongst The 6 TinyTap Teachers
Each participating teacher receives 50% of the net proceeds from the auction of the NFTs of their Courses. In addition, they also receive a 10% ongoing share of any revenue generated by such
Courses. Furthermore, as a result of the co-publishing efforts, they also receive royalties generated by the secondary sales of the NFTs.
The successful auction marks another step toward the vision of Animoca Brands and TinyTap. One that intends to build an alternative Web3 education system. A system that better values teachers by improving the earning opportunities available to them.
The NFT that sold for the highest amount was Learn English with Gabi , which generated 22.9 ETH for its creator. Its creator is Gabi Klaf. This amount earned is approximately 13.4x the average monthly elementary teacher’s salary in the public education system of Israel. A system where she is based.
Commenting on the sale, Gabi Klaf said: “I’ve been teaching ESL passionately for over 30 years. I thought that discovering TinyTap’s interactive game platform was my biggest teaching breakthrough. But now, I see that the Publisher NFT is my real breakthrough. I am overjoyed that my English courses will now reach thousands of children worldwide and I’m excited. Especially because I can teach a new generation of young kids! Financially, I foresee this endeavor to be highly beneficial to me.”
What Is The Goal Behind The App’s Creation
Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “We designed TinyTap’s Publisher NFTs to significantly increase teachers’ earning opportunities. Especially over the current TinyTap subscription model. We also intended to free teachers from the costs and time required to promote their work. Thanks to this innovative use of NFTs, TinyTap’s teachers can choose whether to continue business as usual, or make use of Web3. That way they get to focus on what they do best – produce great content – while gaining the backing of a co-publisher.“
Yogev Shelly , CEO of TinyTap, went on to make a statement. “We’re deeply thankful for the tremendous support we have received for our new and pioneering education model. This initiative has shown that it is possible to better reward educators for the critically important work that they do. Instead of waiting for salaries to rise and for education to become more relevant, we’re using Web3 to build an incentive system. One that “will to allow communities and educators to come together to create.”
The Obvious Impact Of TinyTap
Cici Lampe, the US-based creator of the Course Learn Colors with Super Heroes, made a comment. “Five years ago, I started creating interactive games on TinyTap for my grandson in order to teach him myself using a hands-on approach. I can hardly believe one of my courses is now the face of decentralized education with TinyTap and Animoca Brands. This now brings supporters worldwide so all kids can learn with me.”
Ellen Weber , the US-based creator of the Course Nursery Rhymes & Fairy Tales , made a comment. “TinyTap has been my second income for more than five years. I always believed in TinyTap’s mission and have been inviting the teacher community to join me and create revenue generating educational games on TinyTap.”