How TinyTap is Impacting the Education Industry Through NFTs

Understanding the Fungibility of NFTs

As per Mitchell et al, when something is "non-fungible," it signifies that it is unreplaceable since it is one of a kind.

In my opinion, the non-fungibility of NFTs leads to liquidity problems and liquidity premiums, which makes it very difficult to sell your NFT in the open market. The lack of liquidity in the NFT market may be a challenge for investors and startups alike.

A few web3 startups are trying to solve this illiquidity problem through different protocols and technology, such as NFTs fractionalizations, NFT oracles, price discovery tools, NFT-backed loans and NFT marketplace aggregators. The technological approach that wins, in the end, shall depend on the adoption of such technologies and how efficiently it solves the NFT liquidity problem.

Understanding the Importance of NFTs for our Economy

Tokens that can't be exchanged for other coins are a new twist on cryptocurrency 101. Various assets, such as real estate, lending contracts, and even works of art, are traded and lent via today's complex financial networks. NFTs contribute to the reinvention of this infrastructure by allowing digital representations of physical assets.

In my opinion, if there is one clear advantage of NFTs, it is the tokenisation of non-fungible real-world assets such as diamonds and real estate. The tokenisation of diamonds or real estate through NFTs is an important use case of NFTs, which transforms a physical asset into a digital one, simplifies operations, and eliminates intermediaries.

If an NFT represents a piece of real art on a blockchain which can be traded in a decentralised manner, then there is no longer any need for intermediaries, and the artist may communicate directly with the audience.

Furthermore, NFTs can be used to represent real estate property, removing illiquidity in the real estate market. This is a good use case of NFTs and how they can be applied to real-world assets.

Real estate is non-liquid because it can take months to sell a property. Even if we have an NFT that represents a $1 million USD house, it may still cost $1 million USD to buy that real-estate-backed NFT. However, suppose we fractionalized the real-estate-backed NFT into lower ticket volumes, such as 10,000 fractional NFTs each for 100$. In that case, we may remove the illiquidity by lowering the barrier to entry and allowing for fractional ownership where users can now buy the ownership in the real estate property for $100.

Animoca Brands and TinyTrap to Disrupt the NFT Economy With Educators and Publishers-Focused NFT Auctions

TinyTap, the premier platform for user-generated educational games, and Animoca Brands, a firm promoting intellectual property rights for gaming and the open metaverse, have announced that the second batch of teacher-authored Publisher NFTs will be auctioned on OpenSea beginning at 19:00 (EST) on 15 December 2022.

TinyTap is a platform where users do not need coding knowledge to learn to program. To allows teachers to create and share interactive lessons with their students while also earning a cut of the profits. Educators' access to funding, co-publishers ability to monetise their work, and the community at large are all bolstered by TinyTap's new Publisher NFTs, built on Web3 technology. In my opinion, this can help the education industry by opening new avenues and opportunities for teachers, universities and students alike!

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Image credits: Shubham's Web3.