Binance Labs Backs Open Campus Startup with $3.15M Investment

Binance Labs, a key venture arm of Binance, has injected $3.15 million into the Open Campus initiative. The primary objective behind this financial support is to attract fresh interest towards participation in educational initiatives using the introduction of novel non-fungible tokens (NFTs). These tokens are designed to enhance the potential earnings of content creators, thereby creating a new wave of engagement in the Web3 sector.

Yi He, Co-founder of Binance and Head of Binance Labs, expressed enthusiasm about the project, stating, "This project offers high-quality educational content through tokenomics and Web3 technologies. We actively seek and invest in startups that contribute to the proliferation of Web3 adoption."

TinyTap, a subsidiary of Animoca Brands, a leader in educational technologies and user-generated content in the $5 trillion market, was the first entity to integrate Open Campus technologies. The platform ranks among the top 10 most profitable children's mobile applications on both App Store and Google Play, serving over 10 million families. Collaboratively, developers have launched the Care Bears climate change initiative, offering comprehensive services including wallets, tokens, and incentives to drive Web3 integration.

Jat Siu, Co-founder of Animoca Brands and Open Campus Board Member, emphasized, "Our primary mission is to decentralize education and find innovative ways to support educators. Digital property rights are a crucial aspect. We are delighted with the participation and support from Binance Labs, which will bolster efforts to attract teachers and content creators worldwide to tokenize their content using our protocol."

Recently, the platform introduced the Global Teacher Fund in collaboration with Animoca Brands, backed by a $10 million investment. The courses are tokenized in NFT format, granting teachers complete ownership rights over their content.