Spitball — Launching a New Academic Economy
The e-learning industry is booming and set to grow to $244.1 billion by 2022. With all this innovation in the market, the way students interact and control their own learning path is evolving, fast.
Spitball 2.0 has launched a new blockchain-based, tokenized student economy aiming to transform the global education market by merging e-learning with crypto, offering students a trading ecosystem which digitizes many aspects of student life. With Spitball 2.0, students can earn token incentives for completing tasks such as answering questions, sharing study notes and selling items. It gives students a simple and straightforward way to monetize their academic output and enter the crypto space without making an initial cash investment, as the typical mechanics of investing in crypto (setting up a wallet etc.) are managed behind the scenes. The platform also allows students to find and pay for tutors, locate study partners, houses & job listings plus local food and drink deals.
Empowering the Global Student Body
Currently, students receive only a small percentage of the revenues earned from their content that online resource platforms monetize. Spitball 2.0 uses the blockchain to connect students directly, lowering costs while giving student content creators fair reward. This creates a winning economy that delivers more value for students. By leveraging the existing Spitball platform, plus over 25 partnerships with leading education providers, such as CourseHero and Chegg, Spitball 2.0 will become a game changer for the edtech industry, unlocking new opportunities for students and investors looking for opportunities in the edtech sector.
Being built on the blockchain and using its own tokens means Spitball 2.0 can deliver a range of compelling benefits for students. Not only protecting the ownership of content creation but maintaining strict privacy and lower costs while increasing earnings for students. By facilitating micro-payments, Spitball 2.0 is a genuine economy where students can seamlessly and simply be rewarded for sharing content, performing tasks or even selling goods.
“Tomorrow’s world depends on today’s students. Despite excellent education on offer and an array of online platforms to support them, students are effectively treated like cash cows. Spitball 2.0 aims to change that and fairly reward them for taking part in student life — learning together, teaching each other and sharing data.” Eidan Apelbaum, Founder and CEO of Spitball, commented
This innovative new platform also provides proof of ownership, securing the intellectual property of every one of its users, thus protecting all of the students who create content. Spitball 2.0’s gamified Student Economy will give students the ability to profit from contributed content, collect rewards based on useful platform actions and invest in other students’ goods and services on a one-stop platform designed to meet the needs of the global student community. This increased activity will create a new depth in the student market, attracting more investment as it sees a significant boost in liquidity.
A crypto gateway for a new generation
Spitball 2.0 will also be the gateway into crypto for an entire generation, establishing it as an integral part of their financial future. The SBL token that the platform operates on will be integrated seamlessly into the payments system. Students will not need to create their own wallets manually or convert flat currency to cryptocurrency — the front-end system of the platform will manage the integration, whilst also moving legacy users to the new platform without significant change. Tokens also eliminate the international currency conversion fees that banks charge allowing Spitball 2.0 to be rolled out globally whilst keeping costs to a minimum.
“We believe that cryptocurrencies have a significant place in our future world and Spitball 2.0 will allow students to enter this world easily, setting them up to take advantage of a lifelong capability within this rapidly expanding industry. The tokenized environment is vital as it puts money in the pockets of students, whilst allowing them to build trust amongst their peers.” added Eidan Apelbaum
Students take the reins
Currently, e-learning platforms and other intermediaries take the largest share of the profits either from large transaction fees or costly subscriptions. By Spitball 2.0 lowering the cost of learning services via the blockchain, students can use them more regularly. Instead of using a student resource platform for one-off help with an assignment or paying for an expensive catch up with last week’s lecture notes, the platform can be used as part of a student’s day-to-day life.
Through using Spitball 2.0, students around the world will change the way they learn, share information and interact with their peers. It will be cheaper and faster than ever before for them to build a study ecosystem around them, whilst simultaneously benefiting from their own contributions. With the power firmly in their hands, education will flourish to the benefit of those who need it most.