Animoca Brands has revealed its plan to purchase additional EDU tokens through the open market. EDU tokens are the utility and governing tokens of the Open Campus, which is the world’s first Web3 education network. Major investors that support this protocol include Binance Labs, Sequoia China, and Animoca Brands.
Animoca @animocabrands x $EDU @opencampus_xyz 🧑🎓👀https://t.co/JU7wS7gY7l
— Animoca Ecosystem Insights (@animocainsights) May 22, 2024
Animoca Brands Increases Stake in Growing $8 Trillion Education Market
This commitment to purchasing additional EDU tokens demonstrates Animoca Brands’ confidence in supporting Open Campus and the EDU Foundation. This backing is particularly fixed on the upcoming EDU Chain that will be the first L3 blockchain designed for the global education market. It is expected to grow to a $ 8 trillion industry by 2030 as highlighted in the June 2023 Morgan Stanley report.
TinyTap is the subsidiary of Animoca Brands. it is one of the key participants of the Open Campus launch partners list. It has united this company with others to work on the development of this project. Yat Siu, the executive chairman and co-founder of Animoca Brands and Yogev Shelly, the CEO of TinyTap, both participate as members of the EDU Foundation Council.
The latest buy of more tokens of EDU by Animoca Brands means a new level of support of the Open Campus initiative. It reveals their prospects of what they believe can be accomplished when blockchain technology is applied in the education sector with an intention of expanding the sector and increasing efficiency. Such support comes with more than monetary involvement, but key leaders from Animoca and TinyTap are being involved in the project.
Open Campus Aims to Transform Education with Blockchain
The Open Campus project is focused on transforming the education system through the usage of the blockchain in order to decentralize and increase its availability. Through EDU tokens, the platform shall enable governance and utility roles among the participants in the ecosystem.
Lastly, the decision of Animoca Brands to purchase more EDU tokens and actively use them for participation in the Open Campus project bears witness to its continuous belief in the potential of blockchain within the educational field. This is aimed at strengthening their stance of being one of the main developers of educational applications on the blockchain.