Animoca Brands has announced its intention to acquire additional EDU tokens through the open market. EDU tokens serve as the utility and governing tokens of the Open Campus, the world’s first Web3 education network. Notable investors in this protocol include Binance Labs, Sequoia China, and Animoca Brands.
Animoca Brands has increased its investment in the growing $8 trillion education market by purchasing more EDU tokens. This demonstrates their confidence in supporting the Open Campus and the EDU Foundation. Their focus is particularly on the upcoming EDU Chain, which will be the first L3 blockchain designed for the global education market. According to a Morgan Stanley report from June 2023, this industry is expected to reach $8 trillion by 2030.
TinyTap, a subsidiary of Animoca Brands, is one of the key partners involved in the launch of the Open Campus. Together with other companies, they are working on the development of this project. Yat Siu, the executive chairman and co-founder of Animoca Brands, and Yogev Shelly, the CEO of TinyTap, are both members of the EDU Foundation Council.
Animoca Brands’ recent purchase of more EDU tokens signifies a higher level of support for the Open Campus initiative. It reflects their belief in the potential of applying blockchain technology in the education sector to expand and enhance efficiency. Their involvement goes beyond financial support, as key leaders from Animoca and TinyTap are actively participating in the project.
The goal of the Open Campus project is to transform the education system by leveraging blockchain technology to decentralize and increase accessibility. Through the use of EDU tokens, the platform enables participants in the ecosystem to fulfill governance and utility roles.
In conclusion, Animoca Brands’ decision to acquire more EDU tokens and actively engage in the Open Campus project demonstrates their unwavering belief in the potential of blockchain in the field of education. They aim to solidify their position as one of the leading developers of educational applications on the blockchain.