Crypto educational startup Open Campus has raised over $3 million from Binance Labs to double down on NFTs.
Open Campus (EDU), a cryptocurrency-focused educational startup, has raised $3.15 million from Binance‘s venture arm Binance Labs.
According to an announcement on Monday, Nov. 27, 2023, the funding is expected to help the startup onboard new users onto Web3 and “attract more native users to participate in education through the launch of novel Publisher NFTs.” After the news broke, the project’s native token jumped by more than 6%, reaching in a moment $0.65, according to CoinGecko.
Yat Siu, who’s the co-founder of Animoca Brands and a council member of Open Campus, said the investment is in line with Open Campus’ mission to “decentralize education and find innovative ways to support educators.”
“Digital property rights are coming to education, and that’s why we’re thrilled to have the involvement and support of Binance Labs, which we believe will boost our efforts to onboard educators and content creators worldwide to create and tokenize content via our protocol.”
From its inception, Open Campus was supported by the exchange as early as April 2023, when the project first appeared on Binance Launchpad, a crowdfunding platform offered to the exchange’s users. According to the token sale description page, a total of more than 9 million Binance Coin (BNB) (currently worth of $2 billion) was committed for Open Campus from 120,000 users on Binance.