Animoca Brands, a Hong Kong-based blockchain gaming firm, is looking to make its foray into the education sector, TechCrunch reported. The company may also reportedly announce an acquisition later this month.
Yat Siu, CEO of Animoca / Photo credit: EJInsight
The shift of focus to education aims at driving adoption of blockchain tech, Animoca director and co-founder Yat Siu said in an interview with TechCrunch.
“The reason we’re so focused on [education] is because we think of NFTs about creator economies, and what’s one of the largest creator economies in the world? Teachers,” Siu further said.
See also: Animoca-backed NFT startup scores $120m in Dream Capital-led round
The Animoca co-founder is also taking a leaf out of the crypto playbook by considering models such as “learn-to-earn” or “teach-to-earn,” which will subsequently help incentivize both students’ and teachers’ time.
The diversification plan comes amid Animoca’s investment spree – the blockchain firm has reportedly closed 34 deals in the first quarter of this year. It recently invested US$10 million in an Indian healthtech firm.
Earlier this year, Animoca raised US$359 million in a round led by Liberty City Ventures. Sequoia China and Winklevoss Capital also joined the fundraise, which valued the firm at US$5 billion.
Editing by Deepti Sri and Arpit Nayak
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