- TinyTap’s Publisher NFTs fully sold out, generating significant revenue.
- NFTs provide educators with new revenue models and autonomy.
- Animoca Brands pioneers merging NFTs with educational content.
The publishing industry has long been criticized for its gatekeeping and the bad deals it gives creators. Eager to shift the dynamic, companies like Animoca Brands’ TinyTap are using non-fungible tokens (NFTs) to change that dynamic.
TinyTap recently announced a significant milestone: the complete sale of its Publisher NFTs. They claim this model empowers educators and content creators and lets them keep more of their earnings.
Animoca Brands’ TinyTap Sale of EdTech Publisher NFTs
On Tuesday, 27 November, Animoca Brands’ subsidiary TinyTap announced the successful sale of Season 2 of its Publisher NFTs. These NFTs aim to incentivize educators on the TinyTap platform.
Sponsored
The sale, facilitated by Open Campus, a community-led Web3 education protocol, resulted in the generation of 538,560 EDU tokens, equivalent to approximately US$333,907. This revenue will go to the 168 active educators on the TinyTap platform.
When an NFT linked to a specific educational content is sold for the first time, the creator – the educator – receives 50% of the net proceeds from this initial sale. This immediate revenue is a significant incentive for educators to create high-quality, engaging educational materials, as they receive a substantial portion of the earnings upfront.
Beyond the initial sale, educators receive a continuous 10% share of the revenue generated from the content linked to the NFTs. This ongoing revenue share is calculated based on the utilization and popularity of the educational content.
Sponsored
The model also includes a provision for secondary sales. Whenever a Publisher NFT is resold, the original content creator receives a 5% royalty.
How NFTs Can Bring Change to Publishing
The traditional publishing model in education has long been fraught with challenges that limit both the reach and financial returns for educators and content creators.
These include limited revenue and control for creators, delayed payments, high barriers to entry, and a lack of interactive content. NFTs have been put forward as an innovative solution to these issues.
By leveraging NFTs, educators can retain more profits and exercise full control over their content. Moreover, they get immediate and transparent revenue streams thanks to blockchain technology.
NFT platforms can also lower the barriers to entry. This enables educators to publish and monetize content directly, bypassing traditional publishing gatekeepers. Moreover, NFTs also facilitate the integration of interactive and personalized elements.
On the Flipside
- While the Publisher NFT model offers significant benefits, it’s important to consider the volatility and regulatory uncertainties surrounding NFTs and digital tokens.
- While promising to improve traditional industries, NFT business models potentially present novel stakeholder challenges.
Why This Matters
TinyTap’s Publisher NFTs by Animoca Brands offers a novel way for educators to monetize their content. It also showcases how NFTs can transform traditional industries, including publishing, and offer better alternatives to current business models.
Read more about Animoca Brands’ NFTs ventures:Â
Animoca Brands Launches NFT Licenses, Empowers Creators with Royalties
Read more about Animoca Brands’ deal with TON and Telegram:Â
TON x Animoca Deal Looks to Bring Web3 Gaming to TelegramÂ
