Digital Entertainment Asset (DEA), operator of the PlayMining NFT gaming platform, has received a boost in its operations.
DEA announced that it raised investments amounting to $10 million from Los Angeles-based LDA Capital, a global alternative investment group.
The funding will be spent to further accelerate its business and market expansion and to help optimize the development of PlayMining.
“DEA is very pleased to receive funding from LDA Capital, especially in the current bear market conditions,” Naohito Yoshida, DEA’s co-founder and co-CEO said.
Yoshida said fresh funding will surely boost their effort to develop their platform and drive market expansion even further, as they continue to actively form more strategic partnerships that will broaden their ecosystem and to consolidate a leading position in the Web3 entertainment landscape.
They continue to rapidly build the catalogue of Play-and-Earn (P&E) NFT games that is now enjoyed by at least 2.6 million users.
Last month, DEA also raised a minority investment from Rakuten Capital, the corporate venture capital arm of Japanese e-commerce and internet services giant Rakuten Group. A separate Web3 partnership was also signed.
Launched in 2018, DEA is a Singapore-based global Web3 entertainment company that manages intellectual property (IP) monetization for content creators and operates the PlayMining platform, which comprises a growing selection of P&E games, the PlayMining NFT marketplace, the in-development PlayMining Verse metaverse and the DEAPcoin ($DEP) token.
DEA has users coming from all over the world. But it has an especially large stake in Japan, with DEP being the first P&E token that was officially approved by Japan’s Financial Service Agency.
This Singapore-based global Web3 entertainment company also recently entered a business alliance with Japanese television station Tv Tokyo
for them to collaborate on content that educates the mainstream Japanese audience about Web3 technology.
Its partner, LDA Capital, is a global alternative investment group with expertise in complex cross-border transactions.
Founded in 2018, the company provides dynamic financing solutions to high-growth and capital-intensive businesses.
The LDA Capital team has collectively executed over 250 transactions across the capital structure in both public and private markets across 43 countries with aggregate transaction values amounting to over $11 billion.