Problem 5: Education is Paid
Problem 5: Education is Paid
The current business model for any educational classes globally that is worth listening to is paid, such as LinkedIn learning or masterclass. This model will continue into the metaverse with fancier methods of delivery, 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.
Market size:
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 proving the exam was aced is expensive. Therefore, Play2Learn being able to prove 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.
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