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Binance‘s venture capital and incubation arm, Binance Labs, announced its investment in Open Campus (EDU), a Web3 education platform that tokenizes educational content and is governed by the community, enabling content creators to monetize their publications. This investment aims to introduce new users to Web3 through the launch of new publisher NFTs, which increase the earning potential of content creators and offer revenue sharing for partners.
Binance’s $3.15 Million Investment in Open Campus
Binance Labs, the venture capital and incubation arm of the leading cryptocurrency exchange Binance, has announced its investment in the Open Campus project, which provides scalable infrastructure to join a diverse ecosystem of adopters including schools, educational technologies, and brands, serving as a gateway to bringing millions of content creators and students to Web3. According to the announcement from the cryptocurrency exchange, a $3.15 million investment was made in the project.
As is known, Open Campus recently introduced publisher NFTs that allow Web3 users to support content creators, participate, and in return, receive a share of the revenue. The income generated from content creators is stored in smart contracts from which partners can withdraw funds according to their contributions. Additionally, publisher NFTs issued by adopters of Open Campus can be bought and sold on the provided marketplace.
Yi He, the co-founder of Binance and head of Binance Labs, commented on the investment saying, “Open Campus applies Web3 tokenization and technology to education, motivating the production of high-quality educational content. At Binance Labs, we actively seek out and invest in projects that will facilitate the widespread adoption of Web3. The education sector, with its high potential, is emerging as a key sector for users to participate in Web3.”
EDU’s Price Soars Following Investment News
Following the investment announcement by Binance Labs, the price of Open Campus’s native asset, EDU, rose sharply. Before the announcement, the price of the altcoin was at $0.59, but it increased by over 10% to above $0.65 after the announcement.
The rise in the price of the altcoin was also accompanied by a strong increase in volume. According to recent data, EDU’s trading volume in the last 24 hours surged by over 118%, reaching $20.55 million.