Animoca Brands, a Hong Kong-based blockchain company, has recently announced that it has acquired a majority stake in Tiny Tap, Ltd. The deal was worth US$38.875 million and gives Animoca 84.13% ownership of the mobile learning platform.
TinyTap is a user-generated content (UGC) platform with millions of users and over hundreds of educational games and content. With the TinyTap acquisition, Animoca looks to expand its reach into the educational technology sector and family entertainment market. The company also gains access to TinyTap's massive library of content and its impressive team of developers and educators.
“Educators number among the most prolific creators and traders of content," said Yat Siu, co-founder and executive chairman of Animoca Brands.
On the press release, Siu went on to say:
"Our goal is to mitigate some of the challenges faced by teachers everywhere. With our acquisition of TinyTap - a strong and proven leader in the field of UGC education - we will leverage blockchain to make new opportunities available to educators worldwide, allowing them to generate equity from their creations while offering parents enhanced learning opportunities for their kids.”
TinyTap’s CEO and lead developer, Yogev Shelly, also expressed his excitement in integrating not only his platform, but also its mission and vision to Animoca Brands. Shelly shared the following comments through their PR:
“Since inception, TinyTap has worked to free educators from the limitations of traditional education systems and inadequate budgets. By becoming a part of Animoca Brands, we will leverage blockchain to advance this vision and build a new education system that is independent of schools and governments, that is owned and led by educators themselves.”
TinyTap showcased its dominance in the educational technology sector after generating US$ 17.6 million from 2019 to April 30, 2022. Another proof is their consistency in boarding the top 10 grossing kids’ apps in the App Store within the U.S.
Animoca Brands is a leading mobile game publisher and developer with a portfolio that includes hits such as The Sandbox, Crazy Kings, and Garfield Kart. With this new investment, Animoca Brands plans to help TinyTap grow even more quickly and expand its reach into new markets.