Quick take:
- Digital Entertainment Asset has ramped up its PlayMining with a $12M capital injection.
- The seed round was led by JAFCO Investment Ltd, also attracting corporate firms and several individual investors.
- The GameFi operator will use the proceeds to expand content offerings on its Playmining platform.
Singapore-based GameFi company Digital Entertainment Asset (DEA) on Tuesday completed a $12 million seed funding led by JAFCO Investments. The funding round also attracted corporate entities and several individual investors.
Digital Entertainment Asset plans to use the proceeds from the funding to beef up its PlayMining platform with more content. The play-to-earn gaming company wants to “create a world where people live by playing.” The funding will also be used to develop an infrastructure for metaverse gaming, hire more talent and add more advanced features to the platform.
DEA is implementing these measures to accelerate the user acquisition campaign, while also expanding its reach within the non-fungible tokens (NFTs) and GameFi markets.
Commenting on the exciting partnership with DEA, JAFCO Investment President & CEO Yoshiyuki Shibusawa highlighted DEA’s strong Singaporean roots and solid connection with famous Japanese artists.
“We decided to invest in DEA because we want to work with the members of DEA in the midst of the ‘big swell of the times’ symbolized by Web3, which has been created by the will of individuals and technology,” Shibusawa notes, also adding that DEA has set its sights on the global market.
PlayMining is one of the fastest-growing NFT games in the Asian region, with its PlayingMining game, JobTribes and an NFT Marketplace called NFT: DEP, gaining traction within the gaming community.
The platform is community-governed through its native token DEAPcoin (DEP), which will be used to create an engaged community of creators and users within the platform. Since its inception, PlayMining has amassed more than 2.4 million registered users from the southeast and far-east Asian region including Indonesia, the Philippines, Taiwan, Vietnam, and Japan.
On the other hand, DEA Co-founder and CEO Naohito Yoshida highlighted the company’s commitment to making play-to-earn gaming a sustainable livelihood for people globally, adding the latest funding will play a crucial role in helping DEA to realize its vision.
“Amid the metaverse’s rapid growth, the new capital will help us enlarge our market share while continuously developing our platform to handle the next generation of gaming applications and services,” Yoshida concluded.
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