Interested in learning what’s next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Learn more.
Animoca Brands has acquired TinyTap, the platform for user-generated educational content. Animoca paid $38.875 million for 80.45% of the issued capital of TinyTap Ltd.
Overall, Animoca Brands now holds an 84.13% stake in TinyTap, which provides a user-generated content (UGC) educational no-code tech platform. It enables educators to create and distribute interactive educational content while earning a usage-based revenue share.
Animoca Brands will leverage the acquisition of TinyTap to establish a new business segment for blockchain-based UGC educational content that will allow educators worldwide to generate their own equity. Animoca Brands holds portfolio investments worth $1.5 billion in crypto and blockchain gaming across 340 companies.
“Educators number among the most prolific creators and traders of content,” Yat Siu, executive chairman of Animoca Brands, said in a statement. “Despite the fact that teaching is among the most important professions, educators generally struggle with funding and resources. Our goal is to mitigate some of the challenges faced by teachers everywhere. With our acquisition of TinyTap – a strong and proven leader in the field of UGC education – we will leverage blockchain to make new opportunities available to educators worldwide, allowing them to generate equity from their creations while offering parents enhanced learning opportunities for their kids.”
“Since inception, TinyTap has worked to free educators from the limitations of traditional education systems and inadequate budgets,” said Yogev Shelly, CEO of TinyTap, in a statement. “We empower educators to create engaging learning activities that can reach millions of kids directly and that enable them to earn based on the success of their creations. By becoming a part of Animoca Brands, we will leverage blockchain to advance this vision and build a new education system that is independent of schools and governments, and that is owned and led by educators themselves.”
Background and business model of TinyTap
TinyTap was founded in 2012 and currently employs 30 people. The company has raised $13 million from investors including Aleph Venture Capital, Inimiti, Reinvent VC, Omega Group Enterprises, Radiant Ventures HK, and others.
TinyTap provides a code-free platform that empowers educators to create and share interactive educational content and to receive a revenue share when that content is used by learners. Creators can create TinyTap content and activities on iPad or the TinyTap website. TinyTap is available on iOS, Android and web platforms.
Parents and teachers use TinyTap to enable the children of more than 8.2 million families registered on TinyTap to learn from more than 200,000 interactive lessons and educational games created by publishers such as Oxford University Press, The Learning Company, and Sesame Street, in addition to more than 100,000 other publishers and independent contributors on the platform.
TinyTap content is currently aimed primarily at young learners from pre-kindergarten to grade 6, and the company is working on expanding its offering to learners of all ages.
Educators on TinyTap enjoy free access to the creation platform and all its content, which they can use in their classrooms free of charge. TinyTap generates revenue through a paid subscription model for families and students who use the TinyTap app to play and learn at home. It also provides a freemium service tier that offers limited daily access to content.
TinyTap offers educators an alternative channel to generate revenue. Whenever a family purchases or renews a TinyTap subscription, the subscription profit (which is the subscription revenue minus customer acquisition cost) thus generated is allocated to be shared with content creators. The amounts earned by individual content creators are determined by the engagement generated by their content.
TinyTap has generated revenues of $17.6 million from 2019 through 30 April 2022. The iOS version is one of the top 10 grossing kids’ apps in the US App Store.
During the COVID-19 global crisis, TinyTap established itself as a pandemic-resistant remote learning option. Starting around March 2020, when the COVID-19 outbreak severely impacted the operations of schools around the world, the demand for TinyTap’s service increased considerably.
Strategic rationale for the acquisition
In education, active learning requires students to interact with information and participate in the process, whereas passive learning requires students to internalize information provided by a source, such as an instructor or textbook. Active learning activates higher-order thinking and is much more intellectually stimulating and engaging.
Today, creators who focus on educational content typically do so based on the passive learning approach, producing static materials such as worksheets or low-interactivity media such as videos. Creators who publish their videos on platforms such as YouTube are usually poorly rewarded owing to the nature of ad-based business models, which require a very large number of video views in order to generate significant revenue.
Although the educational landscape is still dominated by passive learning, TinyTap’s success with UGC interactive educational content over the past decade indicates that parents have a strong demand for a virtual home learning environment for their children that is active, safe, and of high quality, with contributions from experienced teachers and educational experts.
Most countries around the world tend to undervalue the profession of teaching, even though educators are entrusted with the extremely important task to shape the minds, the opportunities, and the very future of children. Teachers in many societies face constant resource shortages and employment terms that do not adequately attract or retain talent.
Animoca Brands will leverage TinyTap to establish a new blockchain-based business segment that will empower educators worldwide by providing them with access to new opportunities and the means to generate their own equity, expanding the earning options already presented by TinyTap in its current form.
Blockchain presents considerable opportunities to the business of TinyTap. As an example, most educational programs are managed by governments and companies, sometimes leading to problems such as conflicts of interest or inadequate standards. The decentralization of control permits users on a blockchain to operate independently, creating, curating, requesting, and consuming the educational content that matters to them.
By tokenizing digital content (such as an educational game) into non-fungible tokens (NFTs), content can be truly owned and controlled by its creator instead of being provided under a temporary licensing basis. Content owners are able to sell or rent the content as they please. Animoca talked about other reasons for the acquisition as well.
By combining TinyTap’s interactive learning platform with blockchain technology, Animoca Brands will create an environment where educational content creators will be able to genuinely own the content that they provide and will receive rewards based on the educational impact that they generate. Content creators will benefit from the works they create in a clear and transparent manner, and will be able to distribute their work to learners all over the world.
Animoca Brands has acquired 80.45% of the shares on issue of TinyTap Limited, an entity incorporated in the state of Israel, for a consideration of $38.875 million in cash and shares. Under the terms and conditions of the acquisition, Animoca Brands issued 2,289,395 fully paid ordinary shares at a price of A$4.50 per share as well as a cash consideration totalling $27,181,033 (net of amounts payable to Animoca Brands and its controlled entities of $4,335,083). Prior to the acquisition, Animoca Brands held a 3.73% stake in TinyTap, and now holds 84.13% of the company.
Other shareholders of TinyTap include Mario Ghio and Guilherme Mélega, respectively the CEO and the vice president – K12 of Somos Educação, which is part of the Brazilian high-growth K-12 education company Vasta Educação group (NASDAQ CM: VSTA), as well as current and former TinyTap team members.
GamesBeat’s creed when covering the game industry is “where passion meets business.” What does this mean? We want to tell you how the news matters to you — not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Learn more about membership.
FIFA 23 includes a toggle to turn off ‘Critical Commentary’. The setting lets you silence all negative in-match comments made about your technique, so you can protect your precious ego even when you miss an open goal or commit an obvious foul. The more positive commentary won’t be affected.
Spare your feelings
The feature looks tailored toward children and new players, who don’t want to have their confidence wrecked within mere minutes of picking up the controller. But even experienced players who just so happen to be terrible at the game might benefit.
It’s not perfect, though. According to Eurogamer, the feature didn’t seem to work during a FIFA Ultimate Team Division Rivals match, with critical comments slipping through the filter. Still, who hasn’t benefited from a light grilling every now and then?
Callum is TechRadar Gaming’s News Writer. You’ll find him whipping up stories about all the latest happenings in the gaming world, as well as penning the odd feature and review. Before coming to TechRadar, he wrote freelance for various sites, including Clash, The Telegraph, and Gamesindustry.biz, and worked as a Staff Writer at Wargamer. Strategy games and RPGs are his bread and butter, but he’ll eat anything that spins a captivating narrative. He also loves tabletop games, and will happily chew your ear off about TTRPGs and board games.
We’re starting to hear more and more Google Pixel 7 leaks, with the launch of the phone just a week away, but tech fans might be getting a lot of déjà vu, with the leaks all listing near-identical specs to what we heard about the Pixel 6 a year ago.
It sounds like the new phones – a successor to the Pixel 6 Pro is also expected – could be very similar to their 2021 predecessors. And a new price leak has suggested that the phones’ costs could be the same too, as a Twitter user spotted the Pixel 7 briefly listed on Amazon (before being promptly taken down, of course).
Google pixel 7 on Amazon US. $599.99.It is still showing up in search cache but the listing gives an error if you click on it. We have the B0 number to keep track of though!#teampixel pic.twitter.com/w5Z09D28YESeptember 27, 2022
According to these listings, the Pixel 7 will cost $599 while the Pixel 7 Pro will cost $899, both of which are identical to the Pixel 6 and Pixel 6 Pro starting prices. The leak doesn’t include any other region prices, but in the UK the current models cost £599 and £849, while in Australia they went for AU$999 and AU$1,299.
So it sounds like Google is planning on retaining the same prices for its new phones as it sold the old ones for, a move which doesn’t make much sense.
Analysis: same price, new world
Google’s choice to keep the same price points is a little curious when you consider that the specs leaks suggest these phones are virtually unchanged from their predecessors. You’re buying year-old tech for the same price as before.
Do bear in mind that the price of tech generally lowers over time, so you can readily pick up a cheaper Pixel 6 or 6 Pro right now, and after the launch of the new ones, the older models will very likely get even cheaper.
But there’s another key factor to consider in the price: $599 might be the same number in 2022 as it was in 2021, but with the changing global climate, like wars and flailing currencies and cost of living crises, it’s a very different amount of money.
Some people just won’t be willing to shell out the amount this year, that they may have been able to last year. But this speaks to a wider issue in consumer tech.
Google isn’t the only tech company to completely neglect the challenging global climate when pricing its gadgets: Samsung is still releasing super-pricey folding phones, and the iPhone 14 is, for some incomprehensible reason, even pricier than the iPhone 13 in some regions.
Too few brands are actually catering to the tough economic times many are facing right now, with companies increasing the price of their premium offerings to counter rising costs, instead of just designing more affordable alternatives to flagships.
These high and rising prices suggest that companies are totally out of touch with their buyers, and don’t understand the economic hardship troubling many.
We’ll have to reach a breaking point sooner or later, either with brands finally clueing into the fact that they need to release cheaper phones, or with customers voting with their wallets by sticking to second-hand or refurbished devices. But until then, you can buy the best cheap phones to show that cost is important to you.
Tom’s role in the TechRadar team is to specialize in phones and tablets, but he also takes on other tech like electric scooters, smartwatches, fitness, mobile gaming and more. He is based in London, UK.
He graduated in American Literature and Creative Writing from the University of East Anglia. Prior to working in TechRadar freelanced in tech, gaming and entertainment, and also spent many years working as a mixologist. Outside of TechRadar he works in film as a screenwriter, director and producer.