Problem 5: Edtech needs to be free
Problem 5: Education is Paid
The current business model for any global educational classes worth experiencing is paid, such as LinkedIn learning or masterclass. This model will continue into the metaverse with fancier delivery methods, but unfortunately, prices won’t decrease unless the model changes. Additionally, digital learning and certifications are costly, especially for people from low-income families. Therefore, they will be left out of the opportunities in web3 unless the model changes or there is a special consideration. We must have equal opportunity for all.
The market size of the global e-learning market was $215B in 2021. It is expected to reach $645B by 2030 at a CAGR of 13%.
Solutions Q1 2023:
Developing countries will benefit from the business model shift the most. Although YouTube does have millions of hours of education, the structure isn’t there to prove it. MIT or Harward have their classes open online for anyone to consume, but a document confirming the exam was aced is expensive. Therefore, Play2Learn's ability to demonstrate the gamified marketing exam was aced with an NFT is valuable for the kid in India or Africa to be hired on Upwork or Fiverr.
We create a new paradigm of equal opportunity requiring kids to learn to earn points (hugs) in the game in contrast to most games requiring payment. We don't take payment from parents or kids, giving equal opportunity to all that want to learn.