Education EduFi becomes a new narrative of encryption, Open Campus ushers in a new era of Web3 education

"1. Education; 2. Compliance; 3. Products and services; 4. Ignore FUD, fake news and attacks, etc." At the beginning of this year, Binance founder and CEO CZ tweeted that in 2023, we will focus on four things . Education ranks first, which is enough to show the weight in his heart.

Since then, CZ has repeatedly discussed the importance of Web3 education on different occasions and AMAs, "Binance is still not doing well in the field of education, so education is what Binance should pay attention to." In addition to verbal emphasis, Binance also promotes Web3 education in practice, and launched Open Campus, a leading project in the Web3 education track.

As a community-led Web3 education protocol, Open Campus hopes to use the power of blockchain technology to create a fairer education system and return control to educators and learners: promote more high-quality educational content through tokenization The production of educational content increases the income of educational creators while also allowing learners to access more diverse educational content. The innovation and forward-looking of Open Campus in the field of Web3 education will bring revolutionary changes to the global education market with a market size of up to US$5 trillion.

For the encryption market, Open Campus tokenizes high-quality educational assets outside the circle and also introduces increments to the industry. On this basis, it creates a brand-new model EduFi (Education+DeFi), and also opens a new narrative for the bear market.

With the continuous development of Web3 technology and its application scenarios, the concept of EduFi will be more recognized and applied, and Open Campus will play an increasingly important role in it.

1. Web3 education will become the most important new trend in 2023

From GameFi, NFT, and Layer 2 in the past two years, to this year's Bitcoin Inscription, BRC 20, and Real Assets (RWA), etc., each subdivided track has gradually become the focus of the market, and it is also an opportunity for early participants. Bring in alpha returns (excess returns). Now that the heat has receded, the market is eagerly looking for the next growth point.

Web3 education, which has a basic, leading, and global status in the industry, has attracted the attention of more and more institutions and individuals, including Binance, due to its short development time and low competition. Web3 education is an emerging field with high development potential and opportunities, and will become one of the most important trends in the encryption market in 2023.

From the perspective of development prospects, compared with the scale of the traditional education market, Web3 education still has a strong room for growth. According to World Bank data, the market size of the global education industry has exceeded 5 trillion US dollars in 2020, and the investment in education in countries such as China is also increasing year by year; with the continuous innovation and application of technology, the traditional education market will continue to expand. It is expected to reach USD 100,000 by 2030.

Although the scale of the traditional education market continues to expand, there are still many problems and challenges, such as high education costs, uneven education quality, lack of educational resources, and lagging education management.

The operating costs and tuition fees of traditional educational institutions are high, which is unaffordable for some students with poor economic conditions; for impoverished areas, imperfect educational infrastructure affects students' opportunities to receive education. For educational creators, they did not get the income they deserved, and the income was not directly proportional to the effort. Furthermore, the curriculum system and learning resources of traditional educational institutions are relatively fixed and closed. While meeting the basic needs of students, they lack flexibility and innovation, and cannot meet the individual needs of different students. In addition, due to the rapid changes in the current social development environment, educational institutions cannot update and adjust teaching content and methods in a timely manner, and it is difficult to keep pace with the times and adapt to social changes and development, and there are differences in teaching levels and teaching quality among educational institutions. The benefits of education will also be uncertain.

The traditional education system has constrained both learners and educational creators, and educational injustice is common. On the basis of the traditional education model, the introduction of new technologies such as blockchain may be able to effectively make up for the shortcomings of traditional education and adapt to the new needs of modern society for education.

Open Campus is a platform that combines educational creation and blockchain technology. The platform allows educators to create and share their own innovative teaching materials, students can choose the corresponding teaching materials to learn according to their own needs, and the community can create, own and promote the content they want to know in the world. Especially for educators, tokenization technology can help them turn traditional education courses into chain assets for students to choose freely, reduce middlemen to make a difference, effectively increase the income of education creators, and gain learners and The platform recognizes their contributions.

The emergence of Open Campus is of great significance for optimizing the traditional education model and meeting the educational needs of modern society. Therefore, Open Campus is highly expected by all parties, and Binance also promotes it as the 31st Launchpad project and the benchmark of the Web3 education track.

2. Open Campus: Tokenization of Educational Resources to Achieve Educational Equity

"Publisher NFT (Publisher NFT) earned me $9,767 in 5 months, users paid real money for educational content. No more middleman costs, teachers/creators now directly reap value." One A content creator named "Misa Matsuzaki" shared his intuitive experience of using Open Campus on Twitter.

Misa Matsuzaki's experience is not an isolated case, but the epitome of thousands of educational creators on Open Campus, and their sincere gratitude is also the original intention of Open Campus: through tokenizing educational content, the contributions and efforts of educators can be "recognized" See" and "recognized", get considerable rewards, which in turn promotes the production of more high-quality educational content.

Open Campus has built a complete protocol layer infrastructure for schools, technology education platforms and other educators, allowing them to bring the educational content they produce to students around the world. Educational content and courses can be tokenized into NFT. The generated income will be distributed to creators, NFT holders and other contributors via smart contracts. The platform users are divided into three categories:

• Communities (learners) who can create, own and promote educational content they want to know around the world, and use blockchain technology to fund, co-own and benefit from educational content that fits their needs;
• Creators, through publisher NFT (Publisher NFT), provide promotional rights, and launch their content according to the agreement, and joint publishers can earn income based on their contributions, in which creators and marketers share publishing rights;
• Philanthropists can directly support such educational undertakings through donations, and can track their donated assets through on-chain data.

For example, Xiao Qin now sees the popularity of AI, and as an AI technology guru, he wants to realize knowledge. Limited by his network and popularity, and the knowledge payment platform in the market did not recommend traffic to him, Xiao Qin has been in a state of no one interested in him for several months.

At this point, Xiaoqin can register as a content creator on Open Campus, and then generate and submit his AI technology tutorials through the Open Campus platform for educational content. After passing the professional review (note: mainly to prevent spam from polluting the platform), Xiaoqin needs to use the platform token EDU to pay the fee, mint its content into a Publisher NFT, and sell the NFT in the market.

After the NFT entered the market, the learner Xiao Wang found it very interesting, so he used EDU tokens to purchase the course, and Xiao Qin also earned income by selling the NFT. Xiao Wang will obtain platform course certification after completing his studies.

Of course, it doesn't end here. The "co-publisher" on the platform felt that Xiao Qin's AI content was of high quality, so he bought the NFT and promoted it at his own expense. The NFT was known and purchased by more learners. At this time, Xiao Qin, as the original content creator, can Continue to receive secondary royalty income-but you need to give a certain percentage of the income to joint publishers and partner platforms.

To sum up, the biggest highlight of Open Campus is to combine the traditional education model with blockchain technology to create an NFT-based educational content market. In this way, Open Campus can not only guarantee the copyright and circulation of educational content, but also meet users' needs for high-quality educational resources.

The first company to adopt the Open Campus protocol is TinyTap, which is also a leader in the global education industry and is the top ten mobile app for children with the highest grossing revenue on the App Store and Google Play. At present, the TinyTap platform has more than 250,000 interactive courses, has been used by more than 9 million families and has more than 100,000 creators, and has cooperated with many famous publishers such as Sesame Street and Oxford University. Moreover, TinyTap is also a star project on BNB Chain - ranked by the number of active wallets, TinyTap ranks among the top five most active dApps on BNB Chain.

Last November, TinyTap’s first batch of Publisher NFT sales earned 138.926 ETH (approximately $228,000), and 12 teachers (creators) received half of the revenue; the highest-selling NFT brought 37,600 ETH to its creators. The income in US dollars is 13.4 times the average monthly salary of elementary school teachers in the Israeli public education system.

In addition, in May this year, Open Campus announced the launch of a $10 million Global Educator Fund, which aims to reward teachers and creators around the world for developing K-12 educational content for Open Campus and its partner platforms. Applicants can be qualified teachers, educational institutions, and individuals or teams with subject matter knowledge.

By introducing blockchain technology, Open Campus creates a fairer and more inclusive ecosystem for educators, learners, publishers and co-publishers, while providing them with greater access to Web3 expertise while ensuring Ownership of educational content for continued growth and development of the ecosystem. In this thriving environment, innovation, creativity, and knowledge sharing are fostered and fostered, creating a brighter future for education and bringing billions of educators and learners around the world into the world of Web3.

3. Introduce incremental, new DeFi format expanded by EduFi

After being listed on Binance in April, the price of Open Campus native token EDU rose to 1.69 USDT, a maximum increase of about 3300% compared with the IEO issue price of 0.05 USDT; the current price of EDU is about 0.74 USDT, still a nearly 14-fold increase. In fact, EDU plays a key supporting role in the entire Open Campus ecosystem. Use cases include:

• Governance: EDU holders can submit and vote on DAO proposals of the protocol (for example, participate in planning the usage of Token allocated to the ecosystem, etc.).
• Payment: EDU can be used as a payment method for products and services provided under the Open Campus Protocol (such as TinyTap, where a percentage of the proceeds will be allocated to the Open Campus Protocol).
• On-chain revenue sharing: Contributors (including content creators, publishers, and platforms) receive a share of protocol revenue in EDU.
• User Acquisition: EDU can be used to incentivize and guide Web2 users to Web3 as they can receive discounts on access to products offered by protocol ecosystem partners such as TinyTap.
• Content ownership: Users can purchase co-publishing rights through publisher NFT and EDU.

Here comes the question, will EDU be a good investment target?

From the perspective of development prospects, as an ecological payment token, EDU's value-added is inseparable from the expansion of the Open Campus business territory. In fact, in addition to TinyTap, Open Campus has also reached cooperation with a number of top education companies to move these educational contents to the chain, forming a huge pool of educational contents.

For example, GEMS Education, one of the private school networks, has more than 60 schools and more than 130,000 students in North Africa and the Middle East, and many other partners include but are not limited to Animoca Brands, Sandbox, etc. Since these Publisher NFTs can only be minted with EDU tokens, and the sale must also be paid with EDU, EDU tokens have become an integral part of this ecosystem.

Just take TinyTap as an example. The revenue from the last Publisher NFT auction was about 5 times the normal revenue. The company’s annual revenue is close to 10 million US dollars. After cooperating with Open Campus to tokenize educational resources, Publisher NFT’s revenue may There is a chance to grow to 50 million US dollars, and the auction of these NFTs will also form tens of millions of dollars in buying EDU, and EDU tokens worth tens of millions of dollars will eventually return to the project treasury. Since then, with the entry of these top education companies, the purchase and consumption of EDU will also become larger.

More importantly, these high-quality educational assets have entered into the encrypted ecosystem through tokenization, which is tradable and tradable, and can also generate more new ways to play. For example, the Publisher NFT generated by educational assets can be pledged on the chain; if it is a scarce resource, it can also be fragmented and broken down into more Tokens for transactions. High-quality educational assets will also bring a new round of incremental funds to the encryption market. All of these further provide new ideas and opportunities for the DeFi ecosystem, so it can be called "EduFi" (Education+DeFi)

Of course, the market is generally worried about the selling pressure of new projects, especially the current price increase is high, early investors may flee from profits or project parties cash out. At the end of May this year, a large amount of EDU was transferred to a new wallet address, causing panic in the community. Subsequently, the Open Campus official announced that there was an error when transferring the tokens, no tokens were sold, and the tokens had been returned to the initial wallet, and then unlocked according to the release schedule on the 28th of each month.

According to token.unlocks data, the current circulation of EDU is about 187 million pieces, and the circulation market value is 130 million US dollars. But in fact, its real circulation is only about 110 million. The fundamental reason is that most of the unlocked tokens are still in the wallet and have not flowed out of the market. On July 4th, Open Campus tweeted that in view of macro fluctuations and the market environment, the unlocking time of early contributors, liquidity providers and ecological tokens has been postponed for 3 months, and the release time of other tokens remains unchanged. Therefore, the real circulating market value of EDU is only about 80 million US dollars, and the income of TinyTap alone can drive EDU to achieve a good increase.

As a community-driven on-chain protocol platform, Open Campus will also have unique advantages in introducing partners compared to centralized platforms. Clearer and more transparent revenue distribution will make more partners willing to join this network. Expanding the user base allows educators to enjoy more network benefits for their contributions, and thanks to the incentive mechanism, the supply and quality of educational content will also be improved, and ultimately create a sustainable economic model and achieve a long-term win-win situation. Whether it is from the perspective of Token economy or practical application, Open Campus is a very high-quality Web3 education project.

Write at the end

Now that the encryption market has entered a bear market, the overall trading enthusiasm in the market is not high. The entry of high-quality educational assets can effectively stimulate the internal power of the market, especially the concept of EduFi is expected to inspire and lead a new wave. With the development of Web3 education, the concept of EduFi will be more recognized and applied, and Open Campus will play an increasingly important role in it.

For Open Campus, while shaping a new educational paradigm and ensuring that educational content is shared, it retains the ownership of the work, helps increase educators' income-generating channels, and provides motivation for them to continue to output high-quality content.

In general, Web3 education can break through the limitations of traditional education geographical boundaries, open up new traffic entrances, promote the borderless development of education, truly achieve educational equity, and allow everyone to have equal educational opportunities.