CZ’s Giggle Academy pioneers NFT-based education

Binance founder Changpeng Zhao announced his latest project, an educational initiative related to NFTs called Giggle Academy.

CZ’s new initiative

Changpeng Zhao (CZ), former CEO of Binance, recently announced his latest project, Giggle Academy. This marks his return to the corporate scene after resigning from Binance five months ago. Unlike his previous efforts in the cryptocurrency sector, Giggle Academy is a rigorous educational project aimed at making a positive impact on the world.

Zhao said.

“I’ve been thinking about what to do next for months. I need to find the most positive impact I can in this world. To do this, I need to do something I’m good at and scalable.”

From Litigation to Nonprofit Organization

Zhao pleaded guilty last November to charges of violating the Bank Secrecy Act and causing a financial institution to violate the Bank Secrecy Act. He personally agreed to pay a $50 million fine and stepped down as CEO of Binance.

CZ described Giggle Academy as a “gamified, adaptive” platform that provides free basic education to everyone, especially children with no formal schooling and illiterate adults. The project, fully funded by CZ, will operate as a non-profit venture and will actively seek partnerships with relevant charities to maximize impact.

Giggle Academy: Offers and Future Outlook

According to CZ’s concept document, Giggle Academy will provide educational content beyond the traditional curriculum for grades 1 to 12, with topics including entrepreneurship, blockchain, AI, negotiation, finance, and more. This broad scope aims to bridge the gaps in the existing education system and equip learners with practical skills relevant to the modern world.

Giggle Academy aims to evolve its educational model in the future by considering the possibility of implementing a ‘earning through learning’ system. This forward-thinking approach demonstrates CZ’s commitment to innovation and his vision for scalable and impactful projects beyond the cryptocurrency space.

Integration of blockchain and NFT

Basically an educational initiative, Giggle Academy integrates blockchain technology and non-fungible tokens (NFTs) into its framework. The platform adopts a gamified approach to learning and leverages NFT badges to incentivize learners and drive engagement. Issued with Soul Bound Tokens (SBT), these badges contribute to a points system designed to encourage continuous progress.

Challenges and Considerations

The training mode is entirely online, but as acknowledged in the concept paper, it has its own challenges, such as lack of peer support and group learning.

The concept paper also acknowledged that the “over-gamification” of learning risks making students overly reliant on regular dopamine, as they have to learn how to persevere for delayed gratification.

Another obstacle projects may face is access to the internet and digital devices, especially in underdeveloped and rural areas. The concept paper acknowledges these challenges and says it will collaborate with other organizations with expertise in hardware and infrastructure projects.

Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Source: https://cryptodaily.co.uk/2024/03/from-crypto-to-classrooms-czs-giggle-academy-pioneers-nft-powered-education