Rakuten Capital, the investment arm of the world’s leading provider of internet services in e-commerce, fintech, digital content and communications, is investing in DEA through stock options
DEA signs MOU with Rakuten Group for Collaborative Web3 Partnership
SINGAPORE, Nov. 17, 2022 (GLOBE NEWSWIRE) — Digital entertainment asset (DEA), a Singapore-based global Web3 entertainment company that operates the PlayMining Gaming platform NFT announced today that it has co-signed a letter of intent Rakuten Group for a cooperative partnership in the Web3 area. In addition, Rakuten Group’s corporate venture capital arm, Rakuten Capital, is making a minority investment in DEA by underwriting stock purchase rights.
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Rakuten Group is a global technology company that offers more than 70 different services spanning e-commerce, fintech, digital content, a mobile company and other communications services, and professional sports. Rakuten was an early entrant into the Web3 space and already has companies such as NFT marketplace and sales platform Rakuten NFT, one of Japan’s leading NFT platforms, and its crypto asset trading exchange Rakuten Wallet, which sells Bitcoin and Supporting Bitcoin, launched a number of cryptocurrencies. As part of the partnership, DEA and Rakuten will work together on potential synergies in their respective businesses to further increase the value of their services.
“We decided to invest in DEA because of the company’s proven track record on the world stage in the fast-growing Web3 space under the leadership of an experienced management team,” said Hiroshi Takasawa, President of Rakuten Capital. “I look forward to working with DEA on a number of Web3 business initiatives through this investment. We anticipate that Rakuten Group’s membership base, brand and business experience and expertise in related areas, as well as DEA’s experience in GameFi, Token Economy and Metaverse business facilitation, will contribute to the future business growth of both companies.”
“We are very proud to enter into a business agreement with Rakuten Group, a powerful name in the Japanese tech industry, and we look forward to building great things together,” said DEA Co-Founder and Co-CEO Naohito Yoshida. “Our companies have a variety of synergies that we can explore to create world-class Web3 content together.”
Uniting around common Web3 goals
DEA operates the PlayMining GameFi platform, which hosts a catalog of Play-to-Earn (P2E) NFT games, including job tribes, cooking burgers, Menya Dragon Ramen and the lately started graffiti racer. The platform has a robust NFT marketplace with hot content from well-known names among Japanese anime and video game fans, and a Metaverse initiative is in development. DEA also has its own token, DEAPcoin ($DEP), the first and currently only P2E token to be officially approved by the Japanese Financial Services Authority. With an NFT market, token, and GameFi and Metaverse platform all in one place, PlayMining is able to offer IP monetization opportunities for third-party game studio partners.
“Our vision for DEA is to become the world’s leading Web3 entertainment company. Our agreement with Rakuten will help us work toward that goal by increasing the adoption of play-to-earn games,” said the other co-founder and co-CEO of DEA. Kozo Yamada. “The best way to encourage mainstream adoption of Web3 content is for more competition to enter the space and attract new users. There is room for all of us in this market!”
About the Rakuten Group
Rakuten Group, Inc. (TSE: 4755) is a leading global provider of Internet services that empower individuals, communities, businesses and society. Founded in Tokyo in 1997 as an online marketplace, Rakuten has expanded to provide e-commerce, fintech, digital content and communications services to approximately 1.6 billion members around the world. The Rakuten Group has over 30,000 employees and offices in 30 countries and regions. For more information visit https://global.rakuten.com/corp/.
About Digital Entertainment Asset
Digital Entertainment Asset Pte. ltd (DEA) is a Singapore-based Web3 entertainment company with a global GameFi and Metaverse platform business called PlayMining, founded in August 2018. DEA is a play-to-earn game developer and also operates the PlayMining NFT game platform PlayMining NFT Marketplace, the Metaverse project PlayMining Verse, and DEAPcoin, the only P2E token currently authorized by the Financial Service Agency of Japan is. The team is led by two Co-CEOs – Naohito “Goro” Yoshida and Kozo Yamada – who together have decades of experience in founding successful startups (with 3 IPOs by Naohito), developing successful video games, producing web TV programs and bring a deep understanding of NFT gaming.
PlayMining is a Web3 entertainment platform that empowers creators who would otherwise benefit very little in the traditional IP mining industry. The PlayMining platform is a new business model for content creation with an NFT marketplace powered by PlayMining DEAPcoin paired with an NFT game and a Metaverse platform with both internal games and 3rd party projects with their own native ones Tokens that allow creators to capture the value they create. The PlayMining platform has 2.5 million users and a catalog of play-to-earn game titles including Job Tribes, Cookin’ Burger, Menya Dragon Ramen and Graffiti Racer.
PlayMining website: https://playmining.com
PlayMining Discord: https://discord.com/invite/xWeHGdt
PlayMining Twitter: https://twitter.com/PlayMining_SG
PlayMining Facebook: https://www.facebook.com/PlayMining/
PlayMining Youtube: https://www.youtube.com/channel/UCGWmK0RLV4SB_PSXpj2j6dw
DEA website: https://dea.sg