A Deep Dive into the Blockchain x Education-verse; Open Campus
In our last article, we discussed the implication of applying blockchain technology with education with our case example being TinyTap. But imagine having a tool that allows you to create educational content just like TinyTap, but with complete autonomy.
Throughout this article, we will be using Open Campus as a major case study to highlight the various benefits of incorporating blockchain technology into education. The integration of blockchain technology has the potential to bring numerous advantages to the education sector, which We will explore in detail.
The Open Campus Protocol is a decentralized educational platform aimed at addressing significant issues in today’s educational system. It started due to the undermining of the role of educators who are routinely underappreciated and underpaid, despite their critical role in the shaping and cultivation of our future leaders. Moreover, they wanted to spread education integrated with NFT, enable new use cases, give back value to members, and develop collaborative communities and business models. They believe NFTs should empower communities and they want to achieve that with their platform.
The Open Campus Protocol is a community-driven movement that leverages blockchain technology to build a more equitable educational system. By decentralizing the creation and distribution of educational information, the protocol allows students to access more diversified learning resources while also providing educators with new possibilities to make money and get recognition for their work. The ultimate objective is to give instructors and students more influence over the $5 trillion global education business.
The aim of the Open Campus Protocol is to establish a vibrant and cooperative atmosphere that unites educators, students, publishers, and co-publishers. Launch partners of Open Campus include Animoca Brands, TinyTap, GEMS Education, Liberty City Ventures, among others. Leveraging the expertise of its renowned launch partners in education and web3, this protocol strongly emphasizes the creation of synergies among these dynamic community members, enabling them to generate, enhance, and exchange vital educational content that caters to diverse learner needs while also supporting the ongoing growth and progress of the ecosystem. This thriving environment values and encourages innovation, creativity, and knowledge-sharing, resulting in a promising future for education.
The Open Campus Protocol is supported by the $EDU token which was later adopted by TinyTap. The goal of this cryptocurrency is to provide a decentralized payment and reward system for educational content creators and co-publishers, as well as to enable access to partner educational platforms of Open Campus. The $EDU token can be used for payments, voting rights within the EDU governance system, and potentially for buying and selling on the Open Campus Protocol marketplace. The total fixed supply of $EDU tokens is 1,000,000,000.
By utilizing blockchain technology, Open Campus enables learners from any location in the world to easily access a vast array of learning resources. This has transformed the way we think about education, making it more accessible and adaptable to individual needs. In this article, we will take a closer look at Open Campus and its impact on the EdTech industry through its use of blockchain technology.
They have launched a Co-Publishers’ NFT program which provides holders with access to their community and platform.
The Co-Publishers’ NFTs represent membership and governance in the Open Campus platform. Holders of these NFTs get the following benefits; Access to the Open Campus community, voting rights on key decisions related to the community and platform development, revenue sharing, first access to new features, collaborations, and events.
They also have the Silver Notebook and Golden Backpack features of the Open Campus Protocol platform that have been integrated with NFTs. These NFTs provide additional benefits and incentives for users, creating a more engaging and dynamic learning experience.
By owning a Silver Notebook NFT, users can access additional features and benefits, such as the ability to collaborate with others on a shared notebook and the ability to earn rewards for sharing educational content. Whereas by owning a Golden Backpack, users can have access to invites to real world events, discounts on platform fees, exclusive merch, and priority access to new features and events.
Both are tiered rewards that will give users early access to future Publisher NFT sales.
Open Campus Protocol has attracted a significant following since its launch, with over 150,000 followers on various social media platforms. This is due in part to the innovative and disruptive nature of the platform, which seeks to revolutionize the traditional education system through the use of blockchain technology and NFTs.
The platform’s unique approach to education and content creation has also drawn attention from investors, leading to a significant increase in the value of the $EDU token. The $EDU token has skyrocketed in value since its launch, with a market capitalization of over $200 million at its peak.
We will examine the advantages of this groundbreaking platform and how it is revolutionizing the learning experience.
- Improved transparency and accountability: Blockchain can provide a transparent and immutable record of transactions and interactions between students, teachers, and institutions, which can help reduce bureaucracy and increase trust and accountability. By using the blockchain technology, Open Campus enables students to have greater control and ownership over their academic records, and enables employers to easily verify the authenticity of those records.
- Facilitates collaboration through tokens: The $EDU token is designed to facilitate novel forms of collaboration between educators, learners and other stakeholders, which can improve the overall quality of educational content.
- Reduced administrative costs: blockchain can help automate and decentralize some of the tasks around academic record keeping and credential verification. This could potentially reduce costs and bureaucracy in the education system.
- Provide real time learning analytics: Helps to provide a holistic image on an individual’s learning journey over a long period of time→ Helps to personalize and optimize the learning experience
Recently in 2023 Animoca Brands has announced its participation in the Global Educators Fund, a US$10 million grant fund established by Open Campus Protocol to supplement traditional education curricula through the use of Web3 technologies and communities.
The goal of the Fund is to award grants to teachers and creators who produce educational content with Open Campus Protocol and its launch partners. By leveraging Web3 technologies, Open Campus aims to create an educational environment that fosters collaboration and innovation among all stakeholders in the education sector.
After examining both case studies (Open Campus and TinyTap), let’s conclude with the takeaway we got from incorporating blockchain technology with education:
- Improved transparency and tracking of student records, credentials and progress
- More choices and flexibility for students through open educational resources
- Novel mechanisms for incentivizing and rewarding educators and content creators
- Potential for new forms of collaboration between educators, students and institutions
With the right approach, the benefits of blockchain technology in education could be significant.
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