Animoca Brands subsidiary, TinyTap, the mobile platform used by teachers to develop and sell educational games, digital books and interactive activities, has have accrued a further $8.5m investment.
TinyTaps marketplace of apps and utilities has been steadily expanding since the Tel Aviv-based company first found investment and can be accessed by students through a monthly or yearly subscription.
The money came from investors Sequoia China, Liberty City Ventures, Kingsway Capital, Shima Capital, Polygon, GameFi Ventures, and more. With the cash going towards expanding the business and accelerating development on their Web3 education business. Animoca themselves have been expanding into the Web3 space besides their previous investments into mobile gaming, and have been actively seeking out those combining both. The company sold its own mobile gaming library to iCandy Interactive back in early 2020.
CEO of TinyTap Yogev Shelly commented "Our Publisher NFTs genesis auctions demonstrated that the Web3 community is well suited and willing to support educators and educational content via this new powerful and equitable incentive system.
“By pairing educational content creators with interested promoters, we are able to benefit all parties fairly and take a significant step in our goal to put the power of learning back in the hands of educators, students, and the community."
Animoca keeps faith in Web3
Tinytap’s acquisition by Animoca Brands was one of the big stories of the past year, and in terms of business trends Web3 remains persistent for many. Shelly at the time commented the main focus of TinyTap’s blockchain-based business model was how, “Since inception, TinyTap has worked to free educators from the limitations of traditional education systems and inadequate budgets.”
Animoca’s gaming and mobile investments have also mainly concentrated on those adjacent to Web3 such as Robot Games, MotoGp makers WePlay Media or Sviper. And although there has been an ongoing crypto winter, and numerous criticisms both legislative and otherwise, some are already proclaiming that it and associated technologies such as blockchain and Web3 are on target to keep their promises.