PANews reported on October 20 that according to official news, the Web3 education protocol Open Campus announced the completion of a US$5 million strategic financing round, with participation from Animoca Brands, YZi Labs, Sequoia, Shima Capital, Polygon, Caladan, Kingsway Capital, and GameFi Ventures.

Open Campus stated that this funding will accelerate its development of a new financial and reputational layer for education. The project plans to provide on-chain student loans, credential verification, and payment services to millions of users worldwide. The Open Campus Foundation will use the funds to: purchase EDU tokens on the open market to support key price points; support on-chain student loans through Pencil Finance; and accelerate the launch of Open Campus ID, OC Wallet, and the EDU Chain mainnet.