Animoca Brands has unveiled its strategy to acquire additional EDU tokens from the open market. EDU tokens serve as the utility and governing tokens for the Open Campus, the world’s pioneering Web3 education network. Notable investors backing this initiative include Binance Labs, Sequoia China, and Animoca Brands.
In a recent tweet, Animoca Brands showcased its increased involvement in the rapidly expanding $8 trillion education market by purchasing more EDU tokens. This move signifies the company’s strong support for Open Campus and the EDU Foundation, with a particular focus on the forthcoming EDU Chain, set to be the first L3 blockchain tailored for the global education sector. A Morgan Stanley report from June 2023 forecasts the industry to reach $8 trillion by 2030.
TinyTap, a subsidiary of Animoca Brands, is a key player among the Open Campus launch partners. Collaborating with other companies, TinyTap is actively engaged in the project’s development. Yat Siu, the executive chairman and co-founder of Animoca Brands, and Yogev Shelly, the CEO of TinyTap, both serve as members of the EDU Foundation Council.
Animoca Brands’ recent acquisition of additional EDU tokens demonstrates a heightened level of support for the Open Campus initiative. It underscores the company’s vision of leveraging blockchain technology to enhance the education sector, driving growth and efficiency. Beyond financial investment, key leaders from Animoca and TinyTap are actively contributing to the project.
Open Campus aims to revolutionize the education landscape by leveraging blockchain technology to decentralize and enhance accessibility. Through EDU tokens, the platform empowers participants within the ecosystem with governance and utility roles.
Ultimately, Animoca Brands’ decision to acquire more EDU tokens and actively participate in the Open Campus project reflects its enduring belief in the transformative potential of blockchain in education. This solidifies their position as a leading developer of educational applications on the blockchain.