Open Campus announced on Tuesday, June 20th, that the snapshot for a historic community vote that determines the allocation of a $10M educational fund for web3 is approaching.
In a press release shared with Cryptowisser, Open Campus said the event will mark the first time a DAO has been used to allocate funds to educational content creators.
The team revealed that on June 15, the first batch of proposals to the Global Educators Fund would be up for voting by the community, giving Open Campus DAO members an opportunity to decide how the Global Educators Fund/
The Open Campus DAO will be joined by partners, including TinyTap and Animoca Brands, and the entities will disburse the first round of funding from the $10M pool.
This latest development came after the web3 gaming and metaverse leader Animoca Brands revealed on May 15th that it had committed funding to the Global Educators Fund established by Open Campus Protocol to support learning through the introduction of web3-based solutions. The protocol has other backers, including, TinyTap, GEMS Education, and Liberty City Ventures.
The team also revealed that educators from various parts of the world have submitted proposals to create educational content using a variety of multimedia. The DAO will get a chance to discuss and vote on the first batch of 10 submissions.
At the moment, more than 300 proposals were received for community consideration, and all qualified submissions will get the chance to be voted on by the DAO.
Following the opening earlier this month, the vote will take place on June 22, after which the inaugural winners of the Global Educators Fund will be revealed. Educators could then receive funding in EDU to turn their ideas into reality.
Open Campus revealed that the Global Educators Fund was created to inspire teachers and foster the creation of high-quality educational content. Course creators will retain digital property rights, guaranteeing all educators’ ownership of their intellectual property and ensuring they receive the revenue generated from their grant-funded content.
Open Campus is a foundation for decentralized education supported by the $10M Global Educators Fund powered by the $EDU token. Its goal is to inspire and support teachers and creators in developing educational content for a decentralized education system.