Open Campus (EDU), a recently launched BEP-20 token has become one of the most traded cryptocurrencies of the past 48 hours.
EdTech Project See Successful Launch
EDU launched on Binance following a successful token sale on Binance Launchpad. Following the token sale, the project was listed live for trading. currently, the price is up over 2,800% the initial token sale saw a starting price of $0.05 per EDU. The price on Sunday was sitting at $1.45.
Further adding to the hype around EDU, on Sunday, Binance announced that users will be able to swap euros and Turkish lira for EDU tokens from Monday. These will be the first fiat trading pairs for EDU following the opening of trading for EDU/BTC, EDU/USDT, EDU/TUSD, and EDU/BNB on Friday.
EDU managed to hit a peak of $214 million in 24-hour trading volume, making it one of the top 12 traded cryptos over the weekend. Volume had since declined slightly on Sunday.
The Open Campus Protocol
EDU is the native utility contract for the Open Campus Protocol – a Web3 protocol designed to tokenize educational content.
The idea for Open Campus is to empower educators to monetize their content. EDU can be used as a means of payment for products and services offered via the Open Campus platform.
Because the protocol allows for on-chain revenue sharing, contributors including content creators, publishers, and platforms can share in the ownership and income generated by educational materials.
Open Campus’ first adopter is the social education app TinyTap. A popular app for children, TinyTap hosts content from over 100,000 creators.
Since it was founded in 2012, TinyTap has emerged as a leading developer of digital educational tools for kids. The Israeli EdTech startup recently raised $8.5 million at a valuation of around $100 million.
In a press release, majority stakeholder Animoca Brands said the new capital will be used to further TinyTap’s Web3 strategy.
Blockchains Shake-up EdTech
Last year, TinyTap introduced the concept “Publisher NFTs.” Through TinyCourse Genesis collection, the platform raised 243 ETH in an initial NFT auction.
The basic concept is that each Publisher NFT represents shared publishing rights to one TinyTap course. When they are sold, course creators receive income and the new NFT owner assumes the role of co-publisher.
Buyers are therefore incentivized to promote the course because they take a share in any profits it generates.
In a similar vein to TinyTap’s revenue-sharing NFTs, ODEM is a decentralized marketplace for educational products and services. It uses smart contracts to connect learners and educators with teachers and students agreeing to engage in specific courses.
The ODEM ledger then records each course taken, thus boosting the reputation of both teacher and student within the ODEM ecosystem.
Beyond tokenizing educational resources, blockchain technology has also been applied to the challenge of recording and verifying certification.
Examples include protocols like Blockcerts and APII, which can be used to issue and verify certificates. Academic transcripts and other credentials can also be recorded on the chain.
In fact, the idea of recording academic achievements on a distributed ledger has gained significant traction with students and educators. In addition to open standards like Blockcerts, proprietary blockchain solutions have been developed by the likes of Sony and IBM.
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