Global Web3 entertainment company Digital Entertainment Asset (DEA) has announced they are entering into a collaborative partnership with Rakuten Group. An official memorandum of understanding (MOU) has been signed. The partnership will see the two companies cooperate on a number of initiatives in the Web3 space.
DEA has also received a minority investment from Rakuten Capital, the corporate venture capital arm of Rakuten Group. The investment is in the form of a share acquisition rights subscription.
“It brings us great pride to partner with Rakuten Group, one of the biggest global tech companies. We are also very honored that Rakuten Capital has chosen to invest in DEA,” said Kozo Yamada, co-founder and co-CEO of DEA.
Rakuten Capital President Hiroshi Takasawa said that DEA’s proven international track record in the Web3 industry and highly experienced management team were what convinced them to invest in the company.
Partnering for Web3 Growth
DEA’s other co-founder and co-CEO Naohito Yoshida shares that the two companies have “a number of synergies” and that their ultimate goal for DEA is to “become the leading Web3 entertainment company in the world”.
“We have a strong conviction that the best way to achieve this aim is to increase mainstream adoption of Play-to-Earn gaming. Our partnership with Rakuten is a great step in this direction, and we are excited for what our collaboration will bring,” added Yoshida.
The two companies have a lot in common in the Web3 space.
Rakuten Group, a provider of more than 70 different services, ranging from e-commerce, digital content, and fintech to mobile carrier services and professional sports, was also an early mover in the Web3 industry. They operate the popular Rakuten NFT marketplace, as well as the Rakuten Wallet crypto exchange.
DEA, a Singapore-based company, operates the PlayMining GameFi platform. playing has a large catalog of Play-to-Earn (P2E) NFT games — including Cookin’ Burger, Menya Dragon Ramen, Job Tribes, and the recently launched Graffiti Racer — as well as an NFT marketplace that hosts content from some of the hottest artists in the Japanese anime and video game industry.
DEA also has its own crypto token, DEAPcoin ($DEP), which is used on the playing NFT marketplace and can be earned in many of the platform’s games. DEP is the first and currently, only P2E token officially approved by Japan’s Financial Service Agency, giving PlayMining games a first-mover advantage. The company also invites third-party game studios to build games for the platform, with IP monetization opportunities on the PlayMining NFT marketplace and the upcoming metaverse.