- Binance Labs, the venture capital and incubator arm of Binance, has invested $3.15 million in the Web3 education platform called Open Campus.
- This investment aims to attract new users to Web3 and encourage greater participation from local users in education.
- Open Campus has introduced and launched Publisher NFTs, allowing Web3 users to support creators and earn a share of revenue in return.
Binance Labs, a part of Binance’s venture capital and incubator arm, announced an investment in the altcoin project Open Campus.
Binance Labs Invests in Open Campus Project
Binance Labs, the venture capital and incubator arm of Binance, invested $3.15 million in the Web3 education platform called Open Campus. Open Campus is a community-managed Web3 education platform that tokenizes educational content, allowing content creators to monetize the content they publish.
This investment aims to attract new users to Web3 and encourage greater participation from local users in education. This will be achieved through the launch of new Publisher NFTs that supercharge the earning potential of content creators and enable revenue sharing for joint owners.
Open Campus acts as a gateway to serve millions of education content creators and students worldwide, aiming to draw them into the Web3 ecosystem by providing a scalable infrastructure. The platform has introduced and launched Publisher NFTs, allowing Web3 users to support creators and earn a share of revenue in return. The income generated from content creators will be stored in smart contracts that can be withdrawn based on contributors’ contributions. Additionally, the Publisher NFTs issued by Open Campus can be bought and sold on the Marketplace.
Yi He, Co-founder of Binance and President of Binance Labs, said, “Open Campus encourages the application of the Web3 token economy and technology to education, promoting the creation of high-quality educational content. As Binance Labs, we actively research and invest in projects that contribute to the widespread adoption of Web3. The education industry, with its high potential, stands out as a significant sector in attracting users to Web3.”
Other Partners of Open Campus
TinyTap, a subsidiary of Animoca Brands and a leader in the EdTech sector with a presence in the $5 trillion education market, was the first adopter of Open Campus. TinyTap is a Top 10 grossing kids’ app used by over 10 million families on the App Store and Google Play. Alongside Open Campus, the platform initiated a climate change-themed campaign in collaboration with Care Bears and released a series of educational content and Publisher NFTs. Through such adopters, Open Campus plans to provide an onboarding service with wallets, token payments, and incentives to drive the adoption of Web3.
Yat Siu, Co-founder of Animoca Brands and a member of the Open Campus Council, stated, “The core mission of Open Campus is to decentralize education and find innovative ways to support educators. Digital property rights are coming to education, and we are excited to have the participation and support of Binance Labs. We look forward to working together at the intersection of education and blockchain, increasing our efforts to encourage educators and content creators globally to create and tokenize content through the Open Campus protocol.”
Open Campus offers Smart Donations supported by a native token called EDU, which can be released with measurable on-chain events, providing grants and scholarships. The platform recently introduced the $10 million Global Educators Fund, tokenizing courses as Publisher NFTs that allow real ownership of instructors’ content. The fund was launched in collaboration with Animoca Brands and is intended to be published by launch partners of Open Campus.
