Animoca Brands has announced its intention to acquire additional EDU tokens through the open market. EDU tokens serve as the utility and governance tokens of the Open Campus, the world’s pioneering Web3 educational network. Noteworthy investors backing this initiative include Binance Labs, Sequoia China, and Animoca Brands.
The move to procure more EDU tokens showcases Animoca Brands’ unwavering support for the Open Campus and the EDU Foundation. This commitment is particularly focused on the upcoming EDU Chain, set to become the first L3 blockchain tailored for the global education market. Forecasts suggest that this industry will reach a staggering $8 trillion by 2030, as highlighted in a June 2023 Morgan Stanley report.
TinyTap, a subsidiary of Animoca Brands, stands as a key player among the Open Campus launch partners. Together with other collaborators, the company is actively involved in the project’s development. Yat Siu, executive chairman and co-founder of Animoca Brands, and Yogev Shelly, CEO of TinyTap, both serve as members of the EDU Foundation Council.
Animoca Brands’ recent acquisition of more EDU tokens signifies a heightened level of support for the Open Campus initiative. It underscores their belief in the potential impact of integrating blockchain technology in the education sector to foster growth and enhance efficiency. This support goes beyond financial investment, with key leaders from Animoca and TinyTap actively engaging in the project.
Open Campus is dedicated to revolutionizing education by leveraging blockchain technology to decentralize and enhance accessibility within the sector. Through EDU tokens, the platform empowers participants in the ecosystem to take on governance and utility roles.
In conclusion, Animoca Brands’ decision to procure additional EDU tokens and actively engage in the Open Campus project reaffirms their steadfast belief in the transformative power of blockchain in education. It solidifies their position as leading developers of educational applications on the blockchain.