Crypto venture capital firm Animoca Brands has announced plans to purchase additional EDU tokens from the open market. This move has led to a significant rise in the value of Open Campus’ native token, increasing by over 30%.

Animoca Brands, known for its involvement in blockchain games such as The Sandbox and Eden Games, has declared its intention to further support the EDU Foundation by acquiring more Open Campus (EDU) tokens. This strategy aims to bolster the EDU Foundation’s upcoming EDU Chain, a layer-3 blockchain solution tailored for the global education sector.

On May 22, the Hong Kong-based firm released a blog announcement detailing their decision. The announcement highlighted that the token purchase aims to support the EDU Foundation’s initiatives. Following this news, the price of EDU surged to $0.8, marking a 35% increase.

EDU price in USD: $0.8

However, Animoca Brands did not specify the duration or quantity of the planned token acquisition. Both Animoca Brands and its subsidiary, TinyTap, are launch partners of Open Campus. Key figures such as Yat Siu, Animoca Brands’ executive chairman and co-founder, and Yogev Shelly, TinyTap’s CEO, are members of the EDU Foundation Council.

Open Campus, established in 2022, is a blockchain-based foundation designed to connect educators, content developers, parents, and students. In November 2023, the project secured over $3 million in funding from Binance Labs, the venture arm of Binance. Prior to this, Open Campus had also gained significant support from Binance, featuring on its Launchpad crowdfunding platform. The token sale attracted notable interest, with over 9 million Binance Coin (BNB) pledged by 120,000 users.

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