One of the projects included in the Learn & Earn program of the Binance Academy is the Open Campus Protocol.
Let's take a closer look at it through this post. At the end, I will be sharing the answers to the quiz on Binance if anyone is up to it.
So What is Open Campus Protocol
It is a blockchain-based platform that aims to revolutionize the education landscape by providing a decentralized solution for educators, content creators, parents, students, and co-publishers that leverages the power of blockchain technology.¹
Accordingly, the protocol is community-driven and designed to empower learners, allowing them access to a more diverse and wide range of educational materials while also enabling communities (educators and content creators) with opportunities to monetize their contributions and gain recognition by creating, owning, and promoting content they want.
Open Campus aims to create a fairer education system by decentralizing the creation and distribution of educational content and making it more inclusive and accessible globally.²
In other words, the protocol enables educators (content creators, teachers) to create courses on a Web 3 ecosystem and then monetize their content by minting them as Publisher NFTs, which can be sold to co-publishers who gain the rights them market or promote the content to any parts of the world and share from revenues generated.
Its investors include Sequoia Capital, Polygon, ShameFi Capital, GameFi Ventures and Kingsway Capital.
Open Campus (EDU) Token
This is the native token in the Open Campus Ecosystem.
Ticker: EDU
Network: BEP-20
Total Fixed Supply: 1 billion EDU
Circulating Supply: 187,395,833 EDU
50,000,000 EDU was sold on Binance Launchpad sometime in April 2023. And the token is tradable on Binance, Kucoin, Gateio, PancakeSwap, Bitget, etc.
More of the tokenomics, allocation and distribution here, and the vesting schedules detailed on CMC.
Use cases
❇️Payment & Incentive
To access content from the platform, learners will need to pay using EDU. Also used to incentivize validators, high-quality content creators, co-publishers, and the EDU Foundation.
It is also used to mint educational content as an NFT.
❇️Governance
EDU holders can create DAO proposals; "vote on protocol upgrades, allocate funds for the development of the protocol and education initiatives, set protocol parameters and fees, and also to resolve disputes and conflicts."³
❇️Donation
Accepted as donations through Smart Contracts to support educational causes.
❇️Grants
Used to distribute Grants to support content creators.⁴
What Makes the Open Campus Ecosystem
✅Creators (Educators, Teachers)
These include teachers and content creators who launch their content on the protocol.
✅Co-publishers
These are those who buy and hold Publisher NFTs. By doing so, they earn the right to market and promote the tokenized content and share from revenues generated through their promotional efforts.
✅Publisher NFTs
These are unique digital assets that represent the ownership and promotional rights to each approved educational content.
They are weal-world assets (RWAs) that enable educational content to be tokenized. Revenues from the sale thereof will be shared amongst contributors who will be able to withdraw based on their contributions (teachers for creating the content, co-publishers for marketing).⁵
Each Publisher NFT has a fixed supply of copies that can be sold to co-publishers, and a Content ID — a unique identifier that facilitates access to the content through any platform or device.⁶
In simple words, Publisher NFTs are tokenized educational content. They can be minted by teachers and content creators when their courses are approved. They can be sold to co-publishers in the marketplace.
✅Communities or Learners
These are those who utilize the blockchain technology to pay, own and learn from educational content that fit their needs.
Partners & Builders
Open Campus has partnered with 3rd party platforms that adapted their protocol. Teachers and content creators can submit the courses they create on any of these sites depending on the topics or subjects of their creation.
💠TinyTap
This is a content platform for interactive games, lessons, and courses (over 200k) for K-12 students, and more. Over 100k educators teach, create, and sell their courses here.
It is the very first partner of Open Campus which uses its protocol to create a decentralized educational curriculum designed and curated by teachers and other content creators around the globe. Accordingly, the company has access to grants and scholarship funding from the Open Campus Protocol.
TinyTap's Genesis Collection of Publisher NFTs sold out at an auction for a total of US$351,000 shared with 12 teachers.⁷ The NFTs can be viewed on OpenSea.
Here's an overview of some of them:
Per the update on Medium, season 2 of the Publisher NFT will launch soon. It consists of 1,000 courses from global creators on TinyTap.
💠Mocaverse
A platform for immersive building, creating, playing, and learning experiences in the metaverse. Mocaverse is the flagship NFT project or collection for the different companies, projects, shareholders, investments, members, and partners of Animoca Brands. ⁸
It has the so-called 'Mocaverse Learn Realm' which is intended to be an "idea exchange for learning Web3 insights" through its partnership with Open Campus.⁹
💠GEMS Education
A place to create curriculums and assessments for schools. Apparently, this is the largest school network (over 250 schools and 190k students) in the Middle East and North Africa.
How To Use Open Campus
🔶For Educators (Teachers/Content Creators)
They can create content using various third-party platforms and tools (TinyTap, Mocaverse, GEMS etc) to create educational content in different formats.
Submit their content for tokenization. Pay the fees in the form of EDU to have their content reviewed by validators. If the content is accepted, it will be made into Publisher NFTs which they can sell in the marketplace.
🔶For Co-publishers
Can buy Publisher NFTs from the content creators or from secondary markets. And they can promote the content by using different mediums and strategies (i.e. social media, blogs, podcasts, and newsletters) to reach their target audience anywhere in the world.
Revenues generated from the sale of the content are shared among the involved parties (creator, co-publishers, validators, and the EDU Foundation) through smart contracts.
🔶For Learners
They can pay EDU to be able to consume the content on any platform or device that supports the protocol. The price of the educational content is determined by the creator and co-publishers.
Learners can also give ratings, reviews, and feedback on the content.
🔥BONUS🔥
Answers to Questions on the Binance Learn & Earn
I mentioned at the start of this post that the Open Campus Quiz is ongoing at Binance Academy. In that regard, here's to share the correct answers. (DISCLAIMER: Not sure though if the quiz questions will be the same for all users so DYOR.)
♨️Q1: What is $EDU?
The native token of Open Campus.
♨️Q2: What do Publisher NFTs allow content creators to do?
Maintain ownership of their intellectual property while monetizing their content.
♨️Q3: What is the $10M Global Educators Fund?
A fund to support teachers in creating content on Open Campus.
♨️Q4: What is the governance role of $EDU owners in the protocol?
They can vote on proposals submitted through the Open Campus DAO.
♨️Q5: What is Open Campus?
A decentralized education platform for teachers, creators, and learners.
♨️Q6: What is a co-publisher?
Promote and market the teachers' content with different communities.
♨️Q7: Which of the below is not a mission of Open Campus?
Create a free learning platform for students.
Summary (TL;DR)
👉Open Campus Protocol aims to decentralize access to education by bridging the gap between educators (teachers, content creators), learners (students), and parents through its 3rd-party partner Web 3 platforms like TinyTap, MocaVerse, GEMS, etc.
👉Educators/content creators can monetize the educational courses they create by submitting them to Open Campus partner platforms; paying EDU for validators to review their content, and when approved, they mint Publisher NFTs which they can sell to co-publishers who market and promote their work to customers (learners) anywhere in the world. Revenues generated from these are shared between them.
👉Publisher NFTs represent each created and approved content, enabling creators to maintain ownership and intellectual property while allowing them to monetize their creation.
👉Open Campus has its own native token, EDU which has various utilities such as being used by students/learners to pay for courses; to incentivize validators, co-publishers, EDU Foundation; accepted as a donation currency; used to distribute grants; and used as a governance token.
👉Learners can access educational content through various formats and on any device. TinyTap for example is available on Google Play, iOS, and on web browsers.
For information only. Sources: Open Campus / Whitepaper / CMC / Medium / TinyTap / Binance Academy / Learn&Earn
Lead photo created on Canva. Logo/s & images from Open Campus and TinyTap. Screenshots are linked directly to their sources. No copyright infringement intended. 26082023/10:30ph