Binance’s venture capital and incubator arm, Binance Labs, has announced its investment in Open Campus, a Web3 education platform that tokenizes educational content and is community-driven. This investment aims to enable content creators to earn profits from their publications and introduce new users to Web3 through the launch of new publisher NFTs that offer revenue sharing for partners.
Binance Labs revealed its investment in Open Campus, a project that provides opportunities for various ecosystem participants, including schools, educational technologies, and brands, to participate. It serves as a gateway that brings millions of content creators and students to Web3. According to the cryptocurrency exchange, the project received a $3.15 million investment.
As recently announced, Open Campus introduced publisher NFTs that allow Web3 users to support content creators, participate, and receive a share of the revenue. The income generated by content creators is stored in smart contracts, where partners can withdraw funds based on their contributions. Additionally, publisher NFTs issued by Open Campus adopters can be bought and sold in the provided marketplace.
Yi He, co-founder of Binance and president of Binance Labs, stated regarding the investment, “Open Campus promotes the production of high-quality educational content by applying Web3 tokenization and technology to education. At Binance Labs, we actively seek and invest in projects that will facilitate the widespread adoption of Web3. The education sector emerges as a key sector for participation in Web3 with its high potential.”
Following the investment announcement by Binance Labs, the price of the native asset of Open Campus, EDU, sharply increased. Prior to the announcement, the price of the altcoin was at $0.59, but it rose by over 10% to surpass $0.65.
The price increase of the altcoin was accompanied by a significant volume increase. According to recent data, the trading volume of EDU exceeded $20.55 million with an increase of over 118% in the last 24 hours.