Rakuten Capital, the investment arm of the global leader in internet services covering e-commerce, fintech, digital content and communication, will invest in DEA via equity subscription rights
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 NFT gaming platform, today announced that it has signed a memorandum of understanding with Rakuten Group for a collaborative partnership in the field of Web3. Additionally, Rakuten Group’s corporate venture capital arm, Rakuten Capital, is making a minority investment in DEA by subscribing for equity rights.
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Rakuten Group is a global technology company that provides more than 70 different services spanning e-commerce, fintech, digital content, a mobile phone company and other communication services, as well as professional sports. Rakuten was an early entrant into the Web3 space and has already launched businesses such as the NFT marketplace and sales platform “Rakuten NFT”, one of Japan’s leading NFT platforms, and its “Rakuten Wallet” crypto asset exchange, which supports Bitcoin and a range of cryptocurrencies. The partnership will see DEA and Rakuten collaborate on potential synergies in their respective businesses to further enhance the value of their services.
“We decided to invest in DEA because of the company’s proven track record on the global stage in the fast-growing Web3 space under the leadership of an experienced management team,” said Hiroshi Takasawa, Chairman of Rakuten Capital. “I look forward to working with DEA on a number of Web3 business initiatives through this investment. We expect Rakuten Group’s member base, brand experience and expertise and company in related fields, as well as DEA’s experience in GameFi, token economy and promoting metaverse businesses, 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’s co-founder and co-CEO. Naohito Yoshida. “Our companies have a lot of synergies that we can explore to collaboratively create top-notch Web3 content.”
Unite towards common Web3 goals
DEA operates the PlayMining GameFi platform, which offers a catalog of NFT Play-to-Earn (P2E) games, including Job Tribes, kitchen burger, Menya Dragon Ramen and the recently spear graffiti runner. The platform has a robust NFT marketplace featuring hot content from household names among Japanese anime and video game fans, and a metaverse initiative is in development. DEA also has its own token, DEAPcoin ($DEP), which is the first and currently the only P2E token officially approved by the Financial Service Agency of Japan. By having an NFT marketplace, token, and GameFi and metaverse platform all in one place, PlayMining is able to offer IP monetization opportunities to third-party game studio partners.
“Our vision for DEA is to become the world’s leading Web3 entertainment company. Our agreement with Rakuten will go a long way in helping us achieve this goal by increasing the adoption of Play-to-Earn games,” said DEA’s fellow co-founder and co-CEO, Kozo Yamada. “The best way to help promote the widespread adoption of Web3 content is to bring more competition into the space and attract new users. There is room in this market for all of us!
About Rakuten Group
Rakuten Group, Inc. (TSE: 4755) is a global leader in Internet services that empower individuals, communities, businesses and society. Founded in Tokyo in 1997 as an online marketplace, Rakuten has grown to provide e-commerce, fintech, digital content and communication services to approximately 1.6 billion members worldwide. The Rakuten Group has more than 30,000 employees and operates in 30 countries and regions. For more information, visit https://global.rakuten.com/corp/.
About the 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 game platform PlayMining NFT, the PlayMining NFT marketplace, the PlayMining Verse metaverse project, and DEAPcoin, the only P2E token currently approved by the Financial Service Agency of Japan. The team is led by two co-CEOs – Naohito “Goro” Yoshida and Kozo Yamada – who together bring decades of experience building successful startups (with 3 IPOs by Naohito), building games blockbuster video, web TV program production and deep understanding of NFT gaming.
PlayMining is a Web3 entertainment platform that empowers creators who would otherwise benefit very little from the traditional IP creative industry. The PlayMining platform is a new business model for content creation, comprising an NFT marketplace powered by the PlayMining DEAPcoin, combined with an NFT game and a Metaverse platform with in-house games as well as third-party projects with their own native 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
Discord PlayMining: https://discord.com/invite/xWeHGdt
PlayMining Twitter: https://twitter.com/PlayMining_SG
Play Mining Youtube: https://www.youtube.com/channel/UCGWmK0RLV4SB_PSXpj2j6dw
Play Mining LinkedIn:
DEA website: https://dea.sg