LDA Capital, a Los Angeles-based alternative investment company, has invested $ 10 million in the Digital Entertainment Asset company operating the PlayMining NFT gaming platform. The announcement comes less than a month after Rakuten Capital, the corporate venture capital arm of Japanese e-commerce and online services giant Rakuten Group, made a minority investment in the company.
What is DEA?
DEA is an international Web3 entertainment company located in Singapore and founded in 2018. The initiative oversees the commercialization of intellectual property for content producers. However, an increasing number of P&E games operate the PlayMining NFT marketplace, the PlayMining platform, which includes the PlayMining Verse metaverse and DEAPcoin ($DEP) token, which is still under development.
Improvements of the GameFi Platform and DEA Ecosystem
Job Tribes, Cookin’ Burger, Menya Dragon Ramen, Graffiti Racer, and Lucky Farmer are just a few of the casual P&E games available on PlayMining. However, the last three have been released recently. Players can acquire DEPs through the game and exchange these DEPs for other currencies on crypto exchanges such as OKX, Uniswap, Gate.io, and Bitmart, or spend them to purchase game-enhancing NFTs on the platform’s market.
The PlayMining NFT marketplace sells artwork NFTs from some of the most well-known Japanese anime and video game creators, in addition to GameFi NFTs. Over the past four years, the company has paid over SG$ 9 million in royalties to both official and fan artists as part of its goal to develop a fairer distribution system for creators.
In addition, the DEA supports independent gaming companies with the release of NFT games on the PlayMining platform and monetization of IP. Game development businesses can develop their IPs with NFT and metaverse services by incorporating DEP into their games. In addition, PlayMining provides third-party developers with much more acceptable royalties than the 30% cut.
About LDA Capital
LDA Capital is a multinational alternative investment company with experience in challenging cross-border deals. It was established in 2018 with the aim of providing innovative financing options to companies with intensive and high growth rates. The LDA Capital team has completed more than 250 transactions totaling over US$11 billion across the capital structure in both public and private markets in 43 countries.
About Digital Entertainment Asset
In August 2018, Singapore-based Digital Entertainment Asset Pte.Ltd. (DEA) was founded as a global Web3 entertainment company. The DEA, the developer of the Play and Earn games, also oversees the PlayMining Verse metaverse project, the PlayMining NFT marketplace, and DEAPcoin, the first P&E token authorized by the Japan Financial Service Agency.
About PlayMining
PlayMining is a GameFi and metaverse platform that supports creators who can charge very little in the traditional intellectual property creation market. The PlayMining platform, a new business model for content production, combines an NFT gaming and Metaverse platform with an NFT marketplace powered by the PlayMining DEAPcoin ($DEP).
With 2.6 million users, the PlayMining platform offers both in-house games and third-party projects with their own native tokens, which allows creators to capture almost all of the value they create. These games include Job Tribes, Cookin’ Burger, Menya Dragon Ramen, Graffiti Racer, and Lucky Farmer.
References
www.globenewswire.com
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