Rakuten Capital to invest in Singaporean Web3 entertainment company DEA

DEA operates the PlayMining GameFi platform, which features a catalogue of P2E NFT games, including Job Tribes, Cookin’ Burger, and Menya Dragon Ramen

Singapore, 2022-Dec-13 — /EPR Network/ — Singapore-based global Digital Entertainment Asset (DEA), a Web3 entertainment company, has signed a memorandum of understanding with Rakuten Group for a collaborative partnership in the Web3 domain.

The partnership will see DEA and Rakuten collaborate on potential synergies in their respective businesses to enhance the value of their services further.

As part of the deal, Rakuten’s corporate VC arm Rakuten Capital will also make a minority investment in DEA by subscribing to share acquisition rights.

DEA operates the PlayMining GameFi platform, which features a catalogue of play-to-earn (P2E) NFT games, including Job Tribes, Cookin’ Burger, Menya Dragon Ramen and the recently launched Graffiti Racer. 

The platform has an NFT marketplace featuring hot content from household names among Japanese anime and video game fans and a metaverse initiative under development.

DEA also has its token DEAPcoin ($DEP), a P2E token approved by Japan’s Financial Service Agency. By having an NFT market, a token and a GameFi and metaverse platform in one place, PlayMining can offer IP monetisation opportunities to third-company game studio partners.

“Our vision for DEA is to become the world’s top Web3 entertainment company. Our agreement with Rakuten will go a long way towards helping us work toward this goal by increasing adoption of PlayandEarn gaming,” said DEA’s Co-Founder and co-CEO Kozo Yamada.

Rakuten Group provides over 70 services spanning e-commerce, fintech, digital content, mobile carrier business and other communications services, including professional sports. It runs several Web3 businesses, including an NFT marketplace, sales platform Rakuten NFT, and crypto asset trading exchange Rakuten Wallet.

Hiroshi Takasawa, President of Rakuten Capital, said: “We expect Rakuten’s membership base, brand and business experience, expertise in related areas, and DEA’s experience in GameFi, token economy and metaverse business promotion will contribute to the future business growth of both companies.”