Quick take:
- DEA is a Singapore-based global Web3 entertainment company launched in 2018.
- It operates the PlayMining GameFi platform and the PlayMining NFT marketplace.
- The investment will further accelerate DEA’s PlayMining platform development and market expansion.
Digital Entertainment Asset (DEA), a Singapore-based global Web3 entertainment company, has raised $10 million from LA-based LDA Capital, a global alternative investment group.
Launched in 2018, DEA operates the PlayMining platform which includes a GameFi platform, NFT marketplace, the PlayMining Verse metaverse currently in development, and the DEAPcoin ($DEP) token. DEP is the first play-and-earn token to be officially approved by Japan’s Financial Service Agency.
The company also manages intellectual property monetization for content creators. The new funding will further accelerate DEA’s business and market expansion and help optimise the development of the Playmining platform.
PlayMining offers a number of casual play-and-earn games including JobTribes, Cookin’ Burger, Menya Dragon Ramen, Graffiti Racer and Lucky Farmer, with the last three having launched in the last couple of months. DEA claims that its catalog of play-and-earn games is now enjoyed by 2.6 million users.
Players can earn DEP through gaming, which can be spent on the platform marketplace to buy NFTs that enhance gameplay, or traded on crypto exchanges including OKX, Uniswap, Gate.io and Bitmart, among others.
In addition to GameFi NFTs, the PlayMining NFT marketplace also sells artwork NFTs from some of the most popular Japanese anime and video game artists. The company claims to have paid out over SG$9 million (US$6.68 million) in royalties to both official and fan artists over the past four years.
DEA also helps independent game studios launch blockchain games to monetize their IP on the PlayMining platform. By integrating DEP in their games, game development companies are able to expand their IPs with NFT and metaverse offerings.
“We pride ourselves on working toward social good in all of our endeavors,” said DEA co-founder and co-CEO Naohito Yoshida. “That includes helping indie studios successfully build their IPs in what has traditionally been an extremely challenging industry to grow in, as well as creating new income possibilities for those in need through P&E games. Fairness and transparency are the true spirit of Web3, concepts that DEA fully embraces.”
DEA recently entered a business alliance with TV Tokyo – a major Japanese television station – to collaborate on television content that educates the mainstream Japanese audience about Web3 technology.
A separate Web3 partnership was also signed on Nov 17 with Rakuten Group, which will see the two companies collaborate on a number of synergies between their businesses.
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