Open Campus Trading Volume Surges 190% After Binance Labs Investment

Web3 educational platform Open Campus (EDU) recorded a 190% surge in trading volume following an investment from Binance Labs. After the news broke, the project’s native token saw a 10% increase, according to Coinstats. However, at the time of writing, the asset had retraced and was trading at $0.58

Established in 2022, Open Campus is a blockchain project that aims to revolutionize the education landscape by providing a decentralized and open marketplace that permits creators to develop content, games, and courses for learners on the blockchain. The protocol seeks to provide education to every kid worldwide with an internet connection.

Binance Labs Investment in Open Campus

In a Monday press release, Binance‘s venture arm, Binance Labs, announced a $3.15M investment in Open Campus. This investment aims to usher in a new era of Web3 integration in education, attracting new users and enhancing the participation of existing ones through the launch of novel Publisher NFTs. 

The ‘Publisher NFTs’ is a novel innovation by Open Campus that permits holders’ co-publishing rights to a course created by a teacher, thereby enabling holders to support the education material directly. By using these Publisher NFTs, content creators can generate and share revenue with co-owners through smart contract-based transactions thereby ensuring the fair distribution of earnings that reflects each participant’s contribution.

Speaking on the collaboration, Yi He, Co-Founder of Binance and Head of Binance Labs commended Open Campus for its application of Web3 tokenomics and technology to provide high-quality education. He further expressed his enthusiasm to work with the platform saying:

“At Binance Labs, we actively seek and invest in projects that facilitate the widespread adoption of Web3. The education industry, with its high potential, stands out as a key sector for onboarding users onto Web3”.

Yat Siu, the co-founder of Animoca Brands and a council member of Open Campus also commented on this partnership, emphasizing the platform’s main mission to decentralize education and find innovative ways to support educators. He added:  

“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. We look forward to working together on the frontier of education and blockchain.”