On November 27, 2023, Animoca Brands made a significant announcement, revealing the successful sell-out of Season 2 for its Publisher non-fungible tokens (NFTs). This achievement, orchestrated by TinyTap, Animoca Brands' subsidiary specializing in educational games, and executed through Open Campus, a Web3 education protocol driven by community participation, involved the sale of 720 Publisher NFTs. The sale generated an impressive 538,560 EDU tokens, equivalent to approximately $333,907 at the time of the sale, as reported by Finbold.
This initiative not only marked a digital triumph but also translated into immediate and ongoing revenue for the 168 educators collaborating on the TinyTap platform to create these Publisher NFTs. TinyTap introduced Publisher NFTs as an innovative educational concept, aiming to enhance the empowerment, recognition, and motivation of content creators and publishers. Leveraging TinyTap's code-free Web2 platform, educators can seamlessly create and share interactive educational content, earning a revenue share when learners engage with their content.
The unique aspect of Publisher NFTs lies in embodying co-publishing rights for specific educational content on the TinyTap platform. This means that the content already generates revenue before being associated with an NFT. Yat Siu, the co-founder and chairman of Animoca Brands, emphasized the groundbreaking nature of this success, stating, "The Season 2 Publisher NFTs sale by Open Campus and TinyTap marks a pivotal moment in the march of educational content toward becoming a new asset class." He highlighted the immense potential of digital property rights in unlocking new earning opportunities for educators in the digital age.
Yogev Shelly, the CEO of TinyTap, echoed this sentiment, emphasizing that this milestone goes beyond providing better earning opportunities for educators. It represents the building of a future where communities play a pivotal role in shaping curricula and empowering teachers and content creators for true educational autonomy.
The financial structure of Publisher NFT sales is designed to empower creators. Creators receive 50% of the net proceeds from the initial NFT sale and a 10% ongoing share of the revenue generated by the co-published content. Additionally, creators get a 5% royalty from the secondary sale of their NFTs, managed by Open Campus on behalf of Season 2 creators.
As co-publishers of the associated content, NFT holders can receive up to 80% of the revenue share when involved in promoting and marketing the content. This collaborative approach enables creators to focus on content creation, while TinyTap and NFT holders handle distribution and promotion with incentivized mechanisms.
Publisher NFT holders are also granted the flexibility to independently market and sell their assets to customers outside the TinyTap platform, adding another layer of autonomy to this innovative ecosystem.
