Digital Entertainment Asset (DEA), a Singapore-based Web3 entertainment company, today announced that it has secured undisclosed funding from Global Brain Corporation’s KDDI Open Innovation Fund III.
In a press statement, DEA co-founder and co-CEO Naohito Yoshida said that the company is “very proud” to announce its new investment and collaboration with Global Brain.
“We look forward to working together with KDDI to offer various Web3 incentives to a wider audience, including the use of PlayMining assets in the αU metaverse and joint efforts to promote DEA’s ‘GameFi-for-Good’ social impact initiatives,” he said.
Their first collaboration will be to link KDDI’s new “αU” metaverse project with the Play-and-Earn (P&E) games on DEA’s PlayMining GameFi platform.
Pronounced “Alpha U”, KDDI’s αU metaverse Web3 service launched in March with the aim of providing advanced immersive experiences that merge the real and virtual worlds.
Founded in 2018, DEA is the company behind the PlayMining GameFi platform. As a developer of play-and-earn (P&E) games, DEA also operates the PlayMining gaming platform, the PlayMining NFT marketplace, the PlayMining Verse metaverse project and DEAPcoin ($DEP), the first P&E token approved by the Financial Service Agency of Japan.
The team is headed by two co-CEOs, Naohito Yoshida and Kozo Yamada. Together they bring decades of experience in the tech industry, with three publicly listed companies and a number of video games and Web TV programmes.
LDA Capital, Rakuten Capital and JAFCO Asia previously funded DEA.
KDDI Open Innovation Fund is a corporate venture fund that supports a wide range of venture companies.
The currently active KDDI Open Innovation Fund III has a total investment size of approximately JPY20 billion (US$187 million) and focuses on fields such as AI, IoT, data marketing, fintech, B2B SaaS, and entertainment.
“DEA’s achievements in the rapidly growing Web3 field are a solid testament to its trustworthiness. The company has steadily produced results and achieved global expansion,” said KDDI Head of Web3 Promotions Shunpei Tatebayashi. “We also deeply empathise with their vision of promoting both entertainment and sustainable social contribution.”
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Image Credit: Digital Entertainment Asset
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