Binance Labs, the venture capital and incubation division of the company, has made the decision to carry out a significant investment of $3.15 million in Open Campus, a Web3-based educational platform led by the community.
Open Campus aims to tokenize educational content, enabling content creators to monetize their contributions. This investment seeks to drive the adoption of new users into Web3 and attract native users through the launch of innovative NFTs called “Publisher NFTs.” These NFTs enhance the income potential for content creators while facilitating a revenue-sharing model for co-owners.
Open Campus’s proposal includes a scalable infrastructure designed to attract diverse participants, such as schools, educational technology companies, and brands. They aim to serve as a gateway to potentially incorporate millions of content creators and students worldwide into the Web3 ecosystem.
One of the platform’s highlights is the introduction of “Publisher NFTs.” These NFTs allow Web3 users to participate by supporting content creators and, in return, generate a revenue-sharing model. Smart contracts store the income generated by content creators, and co-owners can withdraw funds based on their contributions.
Binance Aims to Empower Web3 with Collaborative Education
TinyTap, a subsidiary of Animoca Brands and a leader in the EdTech sector, became the first adopter of Open Campus. This platform, with over 10 million families as users and ranking among the top 10 mobile applications in the children’s category, collaborated with Open Campus on a climate change initiative in partnership with Care Bears. Through adopters like TinyTap, Open Campus plans to offer services, including wallets, token payments, and incentives, to boost the adoption of Web3.
Yi He, Co-founder of Binance and Head of Binance Labs, expressed her enthusiasm for Open Campus’s innovative approach in applying tokenomics and Web3 technology to education. She emphasized that the education industry, with its high potential, stands out as a key sector for widespread adoption of Web3.
Open Campus has also introduced “Smart Donations,” allowing grants and scholarships powered by its native token, $EDU, based on measurable on-chain events. Additionally, they recently launched the “Global Educators Fund” with Animoca Brands, a $10 million initiative aimed at incentivizing eligible educators or individuals to generate educational content for publication on Open Campus launch partners. In this program, courses are tokenized as “Publisher NFTs,” granting educators true ownership of their content.
The collaboration between Binance Labs and Open Campus highlights the joint effort to decentralize education, introduce new ways to support educators and content creators, and pave the way for increased adoption of Web3 in the education sector.