The Future of Online Learning: NFT in Education System

Non-fungible tokens will change the whole school game forever.

Why?

Simply because they solve multiple steaming problems of the modern education systems like plagiarism, intellectual property theft, and copyright glass ceiling.

Think about the NFT as a digital version of a certificate of authenticity.

Creating a non-fungible token is basically like acquiring an eternal patent for anything that you create in the digital realm. Presentations, research results, credentials, poems - whatever you imagine in terms of education can be digitized and secured with an NFT.

...But there is more.

In the education industry, non-fungible tokens can serve as blockchain-based credentials, providing a secure and tamper-proof way to verify academic qualifications, professional certifications, and skills acquired through online courses or training programs. Truth be told - they already do.

You can share your NFTs, sell them, or pass them on to the next generation.

Thanks to blockchain technology the asset creator keeps the credits for the work forever. Launched in 2017 by the CryptoPunks, non-fungible tokens are a true black horse of life digitization race, ready to be used on a wide scale.

If you want to know more about this technology, check our article about NFT basics

It is high time to embrace the fact that NFT will set a completely new chapter in the history of education. As long as the internet exists, of course. Therefore, the real question is:

How to harness the NFT's power today?

Before jumping to conclusions, it is wise first to explore the most prominent changes happening in education systems worldwide, to fully understand the untapped and often overlooked potential hidden in non-fungible tokens.

Below you will find a summary of the most attention-worthy shifts in modern learning:

1. Technology integration in education will continue - UNESCO's 2023 GEM Report, among multiple valuable insights on worldwide education condition underlines the increasing role of personalized learning experiences, remote education, and the use of immersive technologies such as virtual and augmented reality for enhanced learning.
   
   
2. Personalization of education will progress - Many academic sources, like the 2023 NPJ's On the promise of personalized learning for educational equity article, stress the importance of catering to individual student needs, preferences, and learning styles in education.
   
   
3. Online learning will evolve to Virtual Reality - We all know how pandemic has influenced classes all around the world. According to UNICAF, VR sets are going to be the natural next step in learning evolution. This means a great opportunity for schools and universities to establish their presence in the digital world.
   
   
4. Adaptation means survival - However ominous it may sound, the pace of technological advancement accelerates exponentially. The WEF's Future of Jobs Report 2023 stresses the fact that job roles continuously evolve, and the education system shouldn't be indifferent to it. Increased emphasis on lifelong learning and upskilling among tutors and scholars is already visible.
   
   
5. Real-world application of knowledge helps student retention - According to many sources, Deloitte Insight included, classical education and degrees seem to be less and less sought out in the modern job market. A well-thought-through transition towards more experiential and project-based learning approaches will enhance student engagement and retention.
   
   
6. Traditional degrees may be supplemented or replaced by alternative forms - Micro-credentials, digital badges, or competency-based assessments, these all are about to be widely recognized solutions. Such alternative tools provide more flexibility and relevance to specific skills and knowledge areas establishing a better future for both students and institutions. Many universities are already using NFTs for credentialing, i.e. a few years back, Duke University provided certificates through NFT for their Master of Engineering in Financial Technology degree.
   
   
7. Rapid changes require creativity and pragmatism - Quick changes in technology and society, education will increasingly focus on developing critical thinking, creativity, and problem-solving skills rather than rote memorization of facts. Therefore, digital assets management promoted i.e. by Martech or ICMA organizations will become as much, if not more, crucial as adaptive learning platforms, AI tutoring solutions, and other modern digital tools.
   
   
8. Economic literacy and financial skills are in demand - Tokenization introduces concepts of digital ownership, value exchange, and economic transactions, providing opportunities for kids to develop financial and digital literacy and a basic understanding of economic principles within a gaming environment. They can learn about supply and demand, investment, and resource management through token-based economies in games. Online platforms like the Sandbox are only underlining the potential lying within this technology.
   
   
9. Green education and sustainability are a standard now - The 2023 Circle U report clearly states that switching from paper to screen also requires students to recognize and acknowledge the environmental challenges due to the energy consumption associated with modern technology.
   
   
10. Gamification in education is the next big thing - According to 2023 The Effects of Gamification in Education: A Systematic Literature Review, gamification can be implemented as a successful intervention technique. This trend uses game design features, mechanics, and concepts to make learning more engaging and fun. It boosts student motivation, enables personalized education with quick feedback, promotes social learning and collaboration, and enhances problem-solving and critical-thinking abilities.

So, it seems like the future of education poses itself quite clearly.

Schools and academies all around the world are in dying need of sustainable, affordable, and durable tools that will help them to enter a completely new digital era.

The non-fungible tokens (NFTs) are here to help.

NFTs will shake education up

Greg Isenberg

CEO of late checkout and advisor at Reddit

Still skeptical about the NFTs in education?

Let's analyze a few factors that make NFTs a true game-changer for schools.

Teachers' ability to reach students is one of the most sought-after skills in modern education, right? Tokenization is a great tool to make classes more attention-drawing, engaging, and motivating.

Why?

After proper NFT minting, the implementation into educational gamification platforms allows students to earn NFT-based rewards or tokens for completing educational tasks, achieving learning milestones, or participating in collaborative projects.

To put it simply, with NFTs at your hand speaking youngsters' "language" is no longer a problem.

It is worth noting that games often involve tasks that require problem-solving, critical thinking, and collaboration, which are valuable skills for academic success. Tokenization systems allow users to track their in-game achievements and progress, providing everyone with a tangible record of skills development and learning outcomes.

But there is more.

Tokenization allows players to own and customize in-game assets, such as characters, items, or virtual properties. In an educational context, this could translate for example to students having ownership of:

• digital artifacts of their learning experiences,
• personalized achievements,
• their progress representation online.
  
  

Peer collaboration and competition also play a great role here.

Enabling the exchange of tokens or NFTs for collaborative achievements or competitive challenges fosters a sense of community and camaraderie among players, encouraging higher levels of teamwork and healthy competition.

That is why NFTs not only enhance students' and teachers' engagement and motivation during distance learning, but it also allow teachers to step into the youngster's world more naturally evading a „boomer” bracketing.

Overall, the fusion of gaming and education has the potential to revolutionize classroom learning experiences, promote skill development, and engage students in ways that are dynamic, rewarding, and inspiring. It is already happening, and there is room for everyone interested.

So, how can the education industry harness the hidden power of NFT's today?

It requires only two things:

• A pinch of goodwill
• And a technological partner with a vision (this means us)

Not many people are aware of that, but teachers can tokenize and monetize their educational materials just as any other content creator thanks to the NFT technology. This means sharing lesson plans, educational videos, interactive simulations, and other digital assets with whole world.

Looking for additional economic arguments in favor?

NFTs can be sold further to raise funds for other studies. Jennifer Doudna and James Allison, researchers at the University of California, Berkeley, were awarded Nobel Prizes for their work, and their findings were turned into an NFT. It is one of the best examples of how NFTs are already changing education as we speak.

Secondly, educational institutions can issue NFTs as digital certificates or badges to students upon completing courses, mastering specific skills, or achieving academic milestones.

These NFT-based collectibles can be stored in digital wallets and shared on social platforms, providing a verifiable record of achievements. It also intertwines with digital assets management education and practice.

Moreover, NFTs can represent unique learning experiences, such as virtual classrooms, field trips, guest lectures, or workshops, which students can purchase or bid on. This opens new revenue streams for educational providers and offers students access to exclusive educational opportunities.

NFTs have the massive potential to become a unique selling point for Ivy League institutions and best-of-the-best schools.

It is worth mentioning, that NFTs can facilitate the creation of decentralized learning marketplaces where educators, teachers, students, learners and content creators can buy, sell, and exchange educational materials and services directly, bypassing traditional intermediaries.

Surprisingly as it may sound, one of the most significant challenges of NFTs today is the lack of its recognized legal definition.

Cryptocurrency status is dynamic and being discussed all around the world today. Such a situation poses regulatory challenges for different nations that are adopting various classification schemes for NFTs.

Therefore, it is hard to predict whether the NFTs will eventually become a taxed product or not.

The uniqueness, scarcity, availability of distribution channels, and ownership status are some of the factors that make it challenging to evaluate the price of an NFT. That is exactly why teachers and parents should join forces in strengthening students' wealth and intellectual property management skills.

The digitization of the real world is a reality in which future generations should roam freely and safely.

Speaking of safety, NFTs, like any other technology today, require mentioning the true sign of our time – the hackers. Cybercriminals can always target a person present online to steal their data or passwords and leading to substantial financial losses including intellectual property etc.

However, it doesn’t stop us from using online banking or social media, right?

In conclusion, it is essential to understand the risks and challenges associated with NFTs before investing in them. Knowing the potential risks and challenges can help identify possible solutions to reduce the risks and make it easier to acquire and sell NFTs in the market.

Perhaps it hasn't resonated yet: tokenization can enable cross-platform integration.

This technology allows students to transfer and use educational tokens or NFTs across different games, applications, or educational platforms. This interoperability enhances the flexibility and accessibility of educational resources and rewards, catering to young people with diverse learning preferences and evolving environments.

Tokenization also empowers students to create, trade, and monetize their digital content within gaming environments, fostering creativity, innovation, and entrepreneurial skills. They can design and sell custom game assets, participate in virtual economies, or even develop their educational games using blockchain technology.

Therefore, while NFTs offer exciting possibilities and provide opportunities for innovation in education, their adoption should be approached thoughtfully and ethically to maximize their benefits while mitigating potential risks. That is why it is crucial to partner with a company that has a vision, possesses solid know-how, and has a strong IT background.

Ready to enter the school.game?

Contact us and start shaping the future of education with non-fungible tokens.