DEA Secures $10M from LDA Capital to Accelerate Expansion of PlayMining GameFi Platform

Digital Entertainment Asset (DEA), operator of the PlayMining NFT gaming platform, has raised a US$10 million investment from LA-based LDA Capital, a global alternative investment group. The announcement comes less than a month after receiving a minority investment from Rakuten Capital, the corporate venture capital arm of Japanese e-commerce and internet services giant, Rakuten Group.

 

DEA is a Singapore-based global Web3 entertainment company launched in 2018. It manages intellectual property (IP) monetization for content creators and operates the PlayMining platform, which comprises a growing selection of P&E games, the PlayMining NFT marketplace, the in-development PlayMining Verse metaverse and the DEAPcoin ($DEP) token.

“LDA is pleased to support DEA with flexible growth capital as it advances its innovative approach to content monetization and P2E gaming. DEA continues to distinguish itself with its cash flow generating business model and solid user base, positioning them as market leaders,” said LDA Capital Managing Partner and co-founder Warren Baker.

“DEA is very pleased to receive funding from LDA Capital, especially in the current bear market conditions,”<wbr></wbr> said DEA co-founder and co-CEO Naohito Yoshida. “We have been rapidly building out our catalog of Play-and-Earn NFT games, now enjoyed by 2.6 million users. This fresh funding will help develop our platform and drive market expansion even further, as we continue to actively form more strategic partnerships that broaden our ecosystem and to consolidate a leading position in the Web3 entertainment landscape.”

Expanding DEA’s ecosystem and GameFi Platform

PlayMining offers a number of casual P&E games, including Job Tribes, Cookin’ Burger, Menya Dragon Ramen, Graffiti Racer and Lucky Farmer — with the last three having launched in just the last couple of months. Players can earn DEP through play, which can be spent on the platform’s marketplace to buy NFTs that enhance gameplay, or traded on crypto exchanges including OKX, Uniswap, Gate.io and Bitmart, among others.

In addition to GameFi NFTs, the PlayMining NFT market also sells artwork NFTs from some of the most popular Japanese anime and video game artists. The company has paid out over SG$9 million in royalties to both official and fan artists over the past four years, with a mission of creating a fairer distribution channel for creators.

Official Channels: DEA Website: https://dea.sg | PlayMining Website: https://playmining.com

Original link: Block3Wire