In an effort to boost Web3 adoption through innovative NFTs and strategic relationships, Binance Labs has invested millions of dollars in a Web3 teaching platform.
The largest cryptocurrency exchange in the world, Binance, recently revealed plans to invest millions of dollars in Open Campus, a community-led web3 education platform, through Binance Labs, its venture arm.
Binance revealed the strategic investment strategy today, November 27. In addition, Binance Lab’s strategic investment strategy, which showcased the company’s foray into creating Web3-based services, generated excitement in the cryptocurrency community.
By introducing cutting-edge Publisher NFTs, this investment seeks to attract new users to Web3 and motivate existing users to participate in education.
These NFTs make it easier for content creators to make money and give co-owners options to share earnings, creating a more profitable and welcoming atmosphere. As per the official announcement Binance released, the company has made an incredible $3.15 million investment in Open Campus.
Furthermore, by incorporating Web3 tokenomics and technology into the educational scene, Open Campus fosters the production of excellent educational content, according to Yi He, Co-Founder of Binance and Head of Binance Labs, who made this announcement recently.
In addition, at Binance Labs, individuals actively seek out and fund projects that advance the widespread use of Web3. With its enormous potential, the education sector stands out as essential for attracting consumers to the Web3 platform.
Open Campus and TinyTap Collaborate to Transform Web3
The first customer of Open Campus was TinyTap, a division of Animoca Brands and a major player in EdTech and user-generated content publication in the $5 trillion education sector.
With over 10 million families using it, this platform is among the top 10 grossing kids’ mobile applications on Google Play and the App Store. Together with Open Campus, TinyTap launched a climate change campaign with Care Bears, launching a library of instructional materials and Publisher NFTs.
With the help of early adopters like TinyTap, Open Campus hopes to accelerate the uptake of Web3 by providing on-ramp services like wallets, token payments, and incentives.
