Open Campus, the education protocol backed by Animoca Brands Corporation Ltd, Sequoia Capital, Binance Labs and others, has announced an upcoming sale of Principal Nodes for the EDU Chain, the protocol’s Layer 3 blockchain specifically designed for education.
The Principal Node Sale will consist of a pre-sale followed by a public sale, with details to be announced in June. Individuals and entities globally are invited to join EDU Chain by operating nodes and securing rewards for serving a pivotal role in the network.
Animoca to acquire tokens
In support of Open Campus and EDU, the governance and utility token used by Open Campus, Animoca Brands has disclosed that it intends to acquire additional EDU tokens from the open market.
The company firmly supports the work of Open Campus and the EDU Foundation, including the upcoming EDU Chain, the first Layer 3 (L3) blockchain specifically designed to serve the global education industry, which is estimated to grow to US$8 trillion in value by 2030.
Animoca Brands and its subsidiary TinyTap are launch partners of Open Campus, together with other companies. Yat Siu, the executive chairman and co-founder of Animoca Brands, and Yogev Shelly, the CEO of TinyTap, are members of the EDU Foundation Council.
About Open Campus
Open Campus aims to address challenges in the current education systems by bridging the gaps in accessibility and quality of education, as well as storing educational data and achievements on blockchain to enable learners to have full control and ownership over their academic records, while improving recognition and compensation for the work of educators.
With blockchain-powered ownership at its core, EDU Chain’s innovative 'Learn Own Earn' model seeks to build an ecosystem of decentralized applications (Dapps) for learners and educators.
Principal Nodes are verifier nodes on the EDU Chain used to safeguard the network by reviewing and verifying the authenticity of transactions before they are confirmed to blockchain.
Participants in the EDU Chain’s Principal Node Sale have the opportunity to become part of an ecosystem that decentralizes education and where both learners and educators can learn, own and earn in new ways unlocked by Web3 technology.
Reshaping education ecosystem
"Open Campus seeks to reshape the education ecosystem to make it more inclusive, equitable and accessible,” said Animoca Brands co-founder and executive chairman Yat Siu, who is a member of the EDU Foundation Council.
"We believe that blockchain technology can unlock significant opportunities on a global scale for learning, earning and teaching.
"Through the decentralisation of EDU Chain we can help to democratise education and empower all participants — learners, educators, edtech innovators — to contribute to and benefit from the future of this field."
Principal Node Sale
The Principal Node Sale for EDU Chain is structured to encourage early engagement through a tiered approach, with node prices ascending per tier across multiple tiers.
A share of sequencer fees will be paid to Principal Node operators for their help in validating transactions on EDU Chain and Principal Nodes become transferable one year post-sale.
The dates of the pre-sale and public sale will be announced in June 2024.
Animoca Brands head of Portfolio Jonah Lau said: "EDU Chain is a Layer 3 that is redefining the educational landscape by pioneering a ‘Learn Own Earn’ model on blockchain.
"This initiative is positioned at the heart of the rapidly growing three billion-dollar blockchain education market, initially addressing over 20 million learners already in Open Campus's partner network.
"EDU Chain not only introduces innovative ways for learners to enhance their skills but also unlocks new earning opportunities, affirming the value of education as an asset for life."