TinyTap, a Publisher NFT company, has sold its first range of NFTs, generating a vast 138.926 ETH ($228,000) for the six teachers that created them and TinyTap. The news highlights a new business model for educational games and opens up a massive industry for educators and game creators. TinyTap, a subsidiary of Animoca Brands, is building an enormous name for itself in educational games. Together, they are looking to develop an educational NFT industry.
TinyTap is merging web3 and education
Founded in 2012, TinyTap has one of the world’s largest educational games libraries. To illustrate, they have more than 200,000 activities made by educators and publishers worldwide. Now, it is introducing a new co-publishing NFT model, which provides educators with a whole new community for creating educational material.
Significantly, TinyTap’s first Publisher NFTs sold out quickly, meaning there is a huge market for these educational game NFTs.
Generating 138.926 ETH ($228,000) at auction, the co-publishing model gave the six teachers who created the content linked to the Publisher NFTs a total of 67.7 ETH ($111,000) between them.
How does the Publisher NFT model work?
These NFTs are bundles of educational games made on TinyTap by a teacher in a specific subject. Basically, each Publisher NFT represents co-publishing rights to a TinyTap course. Furthermore, those who buy the NFTs take on a co-publishing role and rights along with TinyTap and the creator. Then, in return for promoting the courses, they also share in the benefits generated.
Each participating teacher will receive 50% of the auction proceeds of their NFT courses. On top of this, they will get a 10% ongoing share of the co-publishing work. Moreover, they will also receive NFT royalties through secondary sales.
Teacher Gabi Klaf said: “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 to teach a new generation of young kids! Financially, I foresee this endeavor to be highly beneficial to me.”
Learn English with Gabi by Gabi Klaf offers an English language program. This Publisher NFT sold for 46.9 ETH, generating a huge 22.9 ETH for teacher Gabi Klaf and TinyTap.
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This article is educational material.
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