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Open Campus (EDU) rises 35% thanks to Animoca Brands’ intention to purchase more tokens
Crypto venture capital firm Animoca Brands said it plans to buy more EDU tokens from the open market, pushing Open Campus’ native token by more than 30%.
Animoca brandsthe cryptocurrency company behind The Sandbox, Eden Games and others blockchain gameshas announced its intention to acquire more Open Campus (EDU) tokens from the open market in an effort to highlight its support for the EDU Foundation.
In a announcement on the blog On May 22, the Hong Kong-based company said that with the acquisition it intends to support the upcoming EDU Chain, a layer 3 blockchain solution designed to serve the global education sector. After the news, the price of EDU rose to $0.8, gaining about 35% in an instant.
EDU Price in USD | Source: CoinMarketCap
Animoca Brands did not provide details on the duration or quantity of the planned token purchase. Both Animoca Brands and its subsidiary TinyTap are launch partners of Open Campus. Yat Siu, executive chairman and co-founder of Animoca Brands, and Yogev Shelly, CEO of TinyTap, are members of the EDU Foundation Board, the announcement said.
Founded in 2022, Open Campus is a blockchain-based foundation aimed at bringing together educators, content developers, parents and students. In November 2023, the project lifted up over $3 million from BinanceBinance Labs, the venture division of Binance Labs. Previously, Open Campus also received strong support from Binance, appearing on its crowdfunding platform Launchpad. The token sale has attracted considerable interest, with over 9 million Binance Coins (BNB) pledged by 120,000 users.