GameFi platform DEA expands into lucrative Japanese market

abdelaziz Fathi

Singapore-based blockchain gaming and multimedia digital entertainment platform, Digital Entertainment Asset (DEA) Pte Ltd has expanded its presence to Japan.

DEA – ever hungry for more business – is launching its native DEP (DEAPcoin) token in Japan as it hopes to position itself as the pre-eminent marketplace for Web3 GameFi metaverse. This also helps establish PlayMining, one of the fastest-growing NFT game platforms within the GameFi industry, as a preferred destination for Japanese gaming enthusiasts.

PlayMining has already seen exponential growth in Asia, crossing over 2.3 million registered users from, Japan, the Philippines, Indonesia. The platform aims to directly connect creators and users while leveraging the fundamentals of GameFi.

A crucial first step has been taken by securing a DEAPcoin listing on the BITPOINT exchange. The unique feature of this listing is that the platform makes the token accessible to users and ensures there is sufficient liquidity.

DEA will pursue more partnerships for its NFT marketplace and it has already inked several collaborations with popular manga artists including including Ume and Aam Shibata. Additionally, the initiative is supported by former Minister of Justice Takashi Yamashita and Kosotsu Shien Kai Chairman Satoshi Takemura.

This news comes on the back of DEA’s recent funding announcement where the Singapore-based blockchain company has raised over $12million.

Statistics show that the Play to Earn model has seen an explosive rise in popularity and in-game NFTs now account for over 20% of the total NFT trading volume. Overall, this gave new breath to play-to-earn blockchain gaming mechanics to expand across verticals even at times when prices were stagnant.

The sector managed to keep expanding as a whole, recording 2.7-million of daily unique active wallets connected to dapps. For a sense of just how big the industry has become, venture capital funds have already poured $27 billion this year into companies that operate in the space.

Commenting on the news, DEA CEO Kozo Yamada said: “Japan represents an incredible opportunity for GameFi, and especially PlayMining, when putting the sheer size of the market and its tech-savvy population in context. As we endeavor to make a big splash in the market, we are proud to have the support of the Liberal Democratic Party and local organizations like “Kosotsu Shien Kai” that believe in the immense potential of Web3 ecosystems.”

Read this next

Industry News

Playtech to close Finalto sale to Gopher in two weeks

Playtech, the London-listed gambling software developer, today said it expects to close the divesting of its financial trading division Finalto by mid July 2022.

Retail FX

eToro valuation halved as SPAC merger deadline expires

The deadline for the completion of the SPAC merger of eToro had passed yesterday, June 30, and the Israeli broker apparently canceled the deal with Betsy Cohen-backed blank-check firm.

Institutional FX

FXSpotStream reports second best figure for monthly volumes

Trading volumes on institutional FX platforms surged in June after fears over the impact of Russia’s military invasion of Ukraine sent speculative asset classes reeling.

Retail FX

Vantage expands MT5 offering with access to new stocks

ASIC-regulated foreign exchange brokerage Vantage has expanded its service offering and trading products by incorporating new markets, namely 14 exchange-based stocks on MetaTrader 5.

Digital Assets

CFTC charges $1.7 billion Bitcoin scam, largest to date

Mirror Trading accepted at least 29,421 Bitcoin from approximately 23,000 investors from the United States and even more throughout the world.

Retail FX

Spotware Systems upgrades cTrader Desktop to version 4.3

Spotware Systems, a technology provider for the electronic trading industry, has launched an updated version of its cTrader Desktop, which adds new functionality to join a roster of advanced trading capabilities.

Digital Assets

OKX launches Block Trading for tighter pricing

With Block Trading, users can integrate spot and derivatives trades on the same platform and trade multiple currencies in a single trade. The service supports trading of perpetual swap, futures, and option contracts with popular altcoins as the underlying.

Industry News

Interactive Brokers pays $1 million to settle with CFTC

Interactive Brokers overcharged its customers a total of $710,828.14.

Metaverse Gaming NFT

DappRadar launches cross-chain token staking

The launch of the cross-chain token staking mechanism by DappRadar comes under a partnership with LayerZero protocol, which enables smart contracts to communicate across different chains.