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Ally Financial Inc. recently issued four interns from historically black colleges and universities a mission.
Create a strategy to teach middle school students about money so that they may enjoy a financially successful life.
Today, Ally unveiled their solution to that problem - Fintropolis.
"Students who don't know how to handle their finances and make appropriate decisions will face more difficulties in their lives."
Fintropolis
Fintropolis is a new server in the massive hit video game Minecraft, created to teach financial ideas.
Fintropolis is a free, open-source initiative that allows you to create and run your own virtual city in the game Minecraft. It's also available for Minecraft: Education Edition.
You can play Fintropolis by going to their website allyfintropolis.com or downloading it within the Minecraft Marketplace.
"Since 2009, the percentage of people in the United States with good financial knowledge has been decreasing. "
Financial Literacy
This deficit in personal finance knowledge has created a need for new ways to teach children about money earlier.
Adults ages 18-54, on average, can't answer basic questions relating to personal finance1, leaving space for innovative approaches to early financial education.
Four interns hired through Ally's 2019 Moguls in the Making student pitch competition have directed their attention to this critical problem
This has become the topic of discussion among them.
The four interns include:
- Erin Martin from Alabama A&M
- Earl Perry from Florida A&M
- Keishon Smith from Florida A&M
- DeMari Tyner from North Carolina A&T.
The four conducted study and field research before developing Fintropolis, which Ally then marketed.
"We were assigned the task of coming up with a solution by Ally, so we got to work and did our research. We quickly recognized that in order for middle schoolers to pay attention and actually learn, it needed to be interactive and entertaining."
Why Minecraft Was The Chosen Medium
Minecraft is an amazing game where you can use a Minecraft mod and quickly modify the dynamics of the game.
It was the quickest and most interactive way possible.
The game is also popular among young children.
Minecraft allows for an interactive experience where students can work together or independently, build things and see them come to life right before their eyes.
"With Minecraft, we can use verisimilitude, which is basically the ability to create a situation that feels real but isn't."
Using that advantage, children in middle-school are able to learn about financing and handling money.
Fintropolis also links Minecraft with Minecraft: Education Edition, which allows for educators to control who has access to the server and how long they can play.
"We want it to feel like a game that kids will find entertaining but still incorporate lessons of finance."
Is Minecraft Educational?
The ability to solve problems is a key indicator of a child's future success.
This sort of reasoning can be aided and improved by Minecraft.
We may take a look at the game's "survival mode" as an example.
In this game, the player must keep their hunger and health levels up while combating frightening monsters and other perils.
They'll have to figure out how to get away, where to hide, and how to sustain life in these brief 10-minute sequences.
Another way to get pupils to respond quickly and effectively is by providing them with a reward for each right answer.
This might help them develop critical thinking and teach them how to react swiftly in the real world.
With the proper modifications and restrictions, you can set a specific Minecraft Map, host it in a server and create a perfect digital and interactive world where a child can learn and have fun at the same time.
Minecraft may be used in the correct manner to help your youngster get a strong foundation in core STEM.
When you consider the social skills that Minecraft may help your child develop, they may also become extremely competent at negotiation, project management, and collaboration.
There are many skills that employers will always be searching for.
