Animoca Brands, a leading crypto venture capital firm known for its involvement in projects like The Sandbox and Eden Games, has announced its plans to acquire additional Open Campus (EDU) tokens from the open market. This strategic move aims to reinforce support for the EDU Foundation and its forthcoming EDU Chain, a layer-3 blockchain solution designed to transform the global education sector.

The Hong Kong-based firm's announcement on May 22 triggered a significant surge in the price of EDU tokens, which soared by approximately 35% to reach $0.8. Animoca Brands emphasized its commitment to bolstering the development and adoption of EDU Chain, highlighting the vast potential of blockchain technology to transform education on a global scale.

While specific details regarding the duration and quantity of the token purchase were not disclosed, Animoca Brands and its subsidiary, TinyTap, are both established launch partners of Open Campus. Yat Siu, Executive Chairman and Co-founder of Animoca Brands, alongside Yogev Shelly, CEO of TinyTap, also serve as esteemed members of the EDU Foundation Council.

Founded in 2022, Open Campus operates as a blockchain-based foundation dedicated to fostering collaboration among educators, content developers, parents, and students. The project has garnered substantial support, securing over $3 million in funding from Binance Labs, the venture arm of leading crypto exchange Binance, in November 2023.

Prior to this, Open Campus enjoyed robust backing from Binance, featuring on its Launchpad crowdfunding platform and attracting significant interest from the crypto community, with over 9 million Binance Coin (BNB) pledged by 120,000 users during its token sale.

Animoca Brands' proactive stance in acquiring additional EDU tokens underscores its confidence in the project's vision and potential to disrupt the traditional education landscape. As blockchain continues to gain traction in various industries, including education, partnerships and initiatives like these are poised to drive innovation and transformation on a global scale.