DEA raises US$10M from LDA Capital to accelerate NFT gaming platform PlayMining
DEA is a global Web3 entertainment company launched in 2018. It manages IP monetisation for creators and operates the PlayMining platform
Digital Entertainment Asset (DEA), operator of the PlayMining NFT gaming platform, announced that it had raised a US$10 million investment from Los Angeles-based LDA Capital, a global alternative investment group.
The funding was meant to further accelerate its business and market expansion and to help optimise the development of PlayMining.
“DEA is very pleased to receive funding from LDA Capital, especially in the current bear market conditions,” said DEA co-founder and co-CEO Naohito Yoshida.
“We have been rapidly building out our catalogue of Play-and-Earn (P&E) NFT games, now enjoyed by 2.6 million users. This fresh funding will help develop our platform and drive market expansion even further, as we continue to actively form more strategic partnerships that broaden our ecosystem and to consolidate a leading position in the Web3 entertainment landscape.”
DEA is a Singapore-based global Web3 entertainment company launched in 2018. It manages intellectual property (IP) monetisation for content creators and operates the PlayMining platform, which comprises a growing selection of P&E games, the PlayMining NFT marketplace, the in-development PlayMining Verse metaverse and the DEAPcoin ($DEP) token.
LDA Capital is a global alternative investment group with expertise in complex cross-border transactions. Founded in 2018, it 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 of over US$11 billion.
Last month, DEA 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 which sees the two companies.
DEA has users from all over the world, but has an especially large stake in Japan, with DEP being the first P&E token officially approved by Japan’s Financial Service Agency.
DEA also recently entered a business alliance with Japanese television station TV Tokyo to collaborate on content that educates the mainstream Japanese audience about Web3 technology.