Open Campus (EDU) has secured $3.15 million in funding from Binance Labs, the venture arm of leading cryptocurrency exchange Binance.
Open Campus (EDU), a cryptocurrency-focused educational startup, has secured $3.15 million in funding from Binance Labs, the venture arm of leading cryptocurrency exchange Binance. The investment is intended to support Open Campus in onboarding new users onto Web3 and encouraging native users to engage in education through the launch of innovative Publisher NFTs.
The announcement of the funding, made on November 27, 2023, sparked positive market activity for Open Campus’s native token, with a notable 6% surge to $0.65, as reported by CoinGecko.
Open Campus aims to decentralize education and explore inventive ways to support educators, aligning with the broader industry trend of integrating blockchain technology and non-fungible tokens (NFTs) into educational platforms. The startup plans to leverage the investment to further develop its protocol, enhance user onboarding experiences, and facilitate the creation and tokenization of educational content.
Yat Siu, co-founder of Animoca Brands and a council member of Open Campus, expressed enthusiasm about the collaboration with Binance Labs. He emphasized the growing importance of digital property rights in education, asserting that the support from Binance Labs would enhance Open Campus’s efforts to engage educators and content creators globally.
“Digital property rights are coming to education, and that’s why we’re thrilled to have the involvement and support of Binance Labs, which we believe will boost our efforts to onboard educators and content creators worldwide to create and tokenize content via our protocol,” said Yat Siu.
Binance Labs has been a supporter of Open Campus from its early stages, dating back to April 2023 when the project debuted on Binance Launchpad. Binance Launchpad is a crowdfunding platform offered to Binance users, providing a venue for promising blockchain and crypto projects to raise funds from the community. During Open Campus’s token sale on Binance Launchpad, over 9 million Binance Coin (BNB) were committed by 120,000 users, totaling approximately $2 billion at the current valuation.
The funding from Binance Labs reflects a strategic alignment with the growing interest in blockchain-based education initiatives and the broader adoption of NFTs in the educational sector. Open Campus’s commitment to leveraging blockchain technology for decentralized and tokenized education positions it as a key player in the evolving landscape of Web3 education platforms.