Digital Entertainment Asset (DEA), operator of gaming platform PlayMining NFT, announced that it has received a $10 million investment from Los Angeles-based LDA Capital, a global alternative investment group.
The funding should further accelerate business and market expansion and help streamline PlayMining’s development.
“DEA is very excited about the funding from LDA Capital, especially in the current bear market,” said Naohito Yoshida, co-founder and co-CEO of DEA.
“We have rapidly grown our catalog of play-and-earn (P&E) NFT games, which are now played by 2.6 million users. This fresh funding will help evolve our platform and fuel market expansion even further as we continue to actively enter into more strategic partnerships that expand our ecosystem and solidify a leadership position in the Web3 entertainment landscape.”
DEA is a global Web3 entertainment company based in Singapore, founded in 2018. It manages intellectual property (IP) monetization for content creators and powers the PlayMining platform, which includes a growing selection of P&E games, the PlayMining NFT marketplace, the PlayMining in development Verse Metaverse and the DEAPcoin ($ DEP) token.
Also Read: Singapore Gets NFT-Powered Web3 Co-Working Space Metacamp
LDA Capital is a global alternative investment group with expertise in complex cross-border transactions. Founded in 2018, the company offers dynamic financing solutions for high-growth and capital-intensive companies.
The LDA Capital team has collectively executed over 250 transactions across the capital structure in both public and private markets in 43 countries for a total transaction value of over $11 billion.
Last month, DEA received a minority stake from Rakuten Capital, the corporate venture capital arm of Japanese e-commerce and internet services giant Rakuten Group.
A separate Web3 partnership has also been signed, which sees the two companies.
DEA has users from all over the world but has a particularly large share in Japan, with DEP being the first P&E token to be officially approved by Japan’s Financial Services Authority.
DEA also recently formed a business alliance with Japanese broadcaster TV Tokyo to collaborate on content that educates mainstream Japanese audiences about Web3 technology.
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