On April 25th, 2023, Sequoia-backed edtech startup TinyTap announced an impressive $8.5 million funding round led by Animoca Brands and supported by venture arms of leading crypto companies including ConsenSys and Coinbase Ventures. This new invest indicates the growing potential of blockchain-enabled edtech. TinyTap is an edtech startup focused on developing educational games using gamification and interactive elements. Established in 2018, it has acquired over 6 million users from more than 150 countries. The funding will be used to expand its global presence, develop its blockchain-based educational platform, and incentivize users to create and share content.

The potential of blockchain edtech has attracted feverish investors in the past year, but the volatile crypto-space has made investments somewhat tricky. However, Morgan Chittum, cofounder of TinyTap, believes that “despite a challenging start with major headwinds early on, this moment speaks to the tremendous promise of blockchain-enablement of edtech. This is a critical moment.” Presented with this opportunity, NFTs have now become a focus of TinyTap, as Ayelet Anikst, TinyTap’s CEO, stated in a press conference. “We are focused on developing an ecosystem of digital educational assets that are tokenized and stored securely on the blockchain. It’s the safe, trusted, and transparent way to store and share educational content, empowering users to transfer and monetize their digital educational assets.” These developments have created an environment in the AI world for startups to flourish and gain investment. Numerous AI startups have secured millions of funding in the past year, while big tech investors are continuing to pump billions into the sector. With the emergence of the metaverse becoming increasingly more real, companies need to recognize the potential for the metaverse and develop a strategy to capitalize on it. The recent news of TinyTap securing $8.5 million in funding is not only impressive but also a testament to the potential of blockchain-enabled edtech. Despite facing challenges early on, TinyTap’s focus on tokenizing digital educational assets and storing them securely on the blockchain has paved the way for AI startups to flourish and gain investment. And as the metaverse becomes increasingly more real, it is crucial for companies to recognize its potential and develop a strategy to capitalize on it. With the funding secured, TinyTap is poised to rise to the challenge and continue to make waves in the edtech space. As Ayelet Anikst, TinyTap’s CEO, stated, “We are excited to develop an ecosystem of digital educational assets that are tokenized, empowering users to transfer and monetize their digital educational assets.” The future of blockchain-enabled edtech is bright, and we can’t wait to see what TinyTap and other startups have in store. #TinyTap #EdTech #NFT #AIStartup #SoftBank #Metaverse #Crypto #CoinbaseVentures #ConsenSys #ChatGPT