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Animoca Brands has acquired TinyTap. The capital of TinyTap was paid for by Animoca.
Animoca Brands has an 84.13% stake in TinyTap, which provides a user-generated content platform. It allows teachers to earn a usage-based revenue share while creating and distributing educational content.
Animoca Brands will use the acquisition of TinyTap to create a new business segment that will allow teachers to earn their own equity. Animoca brands holds investments in over 300 companies.
Yat Siu, executive chairman of Animoca Brands, said in a statement that the teachers are the most prolific creators and traders of content. Even though teaching is one of the most important professions, educators struggle with funding and resources. Some of the challenges faced by teachers are mitigated by us. As a result of our acquisition of TinyTap, we will be able to make new opportunities available to educators worldwide, allowing them to generate equity from their creations, while offering parents enhanced learning opportunities for their children.
Register HereThe CEO of TinyTap said that the company has worked to free educators from the limitations of traditional education systems. We allow educators to create engaging learning activities that can reach millions of kids directly and that allow them to earn based on the success of their creations. By becoming a part of Animoca Brands, we will be able to build a new education system that is independent of schools and governments, and that is owned and led by the teachers themselves.
TinyTap has 30 people working for it. The company has raised over $12 million from a number of investors.
TinyTap gives educators the ability to create and share interactive educational content and to receive a revenue share when that content is used by learners. The TinyTap website and iPad can be used by creators. TinyTap can be found on a number of platforms.
More than 8 million families use TinyTap to enable their children to learn from more than 200,000 interactive lessons and educational games created by publishers such as Oxford University Press, The Learning Company, and Sesame Street.
The company is working on expanding its offering to learners of all ages, as it currently only caters to young learners.
Free access to the creation platform and all of its content is available to educators on TinyTap. The TinyTap app is used by families and students to play and learn at home. The free tier has limited access to content.
TinyTap is an alternative way to make money. When a family buys or renews a TinyTap subscription, the subscription profit is allocated to be shared with content creators. Engagement generated by their content determines the amount of money earned by individual content creators.
The company has generated revenues of $18.6 million over the course of the year. One of the top 10 grossing children's apps in the US is on the iPad.
TinyTap became a pandemic- resistant remote learning option during the global crisis. The demand for TinyTap's service increased significantly after the COVID-19 outbreak.
In education, active learning requires students to interact with information and participate in the process, whereas passive learning requires students to internalize information from a source. Higher-order thinking is stimulated and engaged by active learning.
Today, creators who focus on educational content typically do so based on the passive learning approach and produce static materials such as videos. The nature of ad-based business models, which require a very large number of video views in order to generate significant revenue, makes it difficult for creators to be rewarded for their work on platforms such as YouTube.
Although the educational landscape is dominated by passive learning, TinyTap's success with UGC interactive educational content over the past decade indicates that parents have a strong demand for a virtual home learning environment for their children that is active, safe, and of high quality.
Most countries around the world don't value the profession of teaching as much as they should because it's important to shape the minds, the opportunities, and the very future of children. Resource shortages and employment terms don't adequately attract or retain talent.
Animoca Brands will use TinyTap to create a new business segment that will empower educators worldwide by giving them access to new opportunities and the means to generate their own equity, expanding the earning options already presented by TinyTap in its current form.
There are a lot of opportunities for the business of Tiny Tap. Conflicts of interest or inadequate standards can be caused by educational programs that are managed by governments and companies. The decentralization of control allows users to create, request, and consume educational content thatmatters to them.
Content can be truly owned and controlled by its creator instead of being provided under a temporary license if it is tokenized. Content owners are able to make money from their content. Animoca spoke about other reasons for the acquisition.
Animoca Brands will create an environment where educational content creators will be able to truly own the content that they provide and will receive rewards based on the educational impact that they generate. Content creators will benefit from the works they create in a transparent way and will be able to distribute their work to learners all over the world.
Animoca Brands has acquired 80% of the shares on issue of TinyTap, an entity incorporated in the state of Israel, for a consideration of $38.825 million in cash and shares. Under the terms and conditions of the acquisition, Animoca Brands issued 2,289,395 fully paid ordinary shares at a price of A$4.50 per share and a cash consideration totalling $27,181,033. Animoca Brands had a 3.81% stake in TinyTap prior to the acquisition.
The CEO and the vice president of K12 of Somos Educao are also shareholders of TinyTap.
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