Singaporean GameFi Firm Raises $12M During Seed Funding Round

Singapore-based GameFi company Digital Entertainment Asset (DEA) announced that it has raised $12 million during its seed funding round. Various publicly-listed companies including JAFCO Investment Ltd, led the mentioned fundraising. In a document sent to CoinQuora, the company said that it will utilize said amount to “create a world where people live by playing.”

Additionally, DEA has pledged to allocate capital to create a new content forum for its PlayMining platform, which the company bills as one of the fastest-growing in the NFT gaming space. Moreover, the company implemented this initiative to explore its user-based acquisition while expanding its NFT portfolio in the GamiFi market. DEA CEO and Co-Founder Naohito Yoshida said,

The latest funding and support from investors bring us one step closer to realizing this ambitious vision. Amid the metaverse’s rapid growth, the new capital will help us enlarge our market share while continuously developing our platform to handle the next generation of gaming applications and services.

PlayMining is a platform that hosts a wide array of services including games like JobTribes and an NFT marketplace called NFT DEP. Powered by DEAPcoin (DEP), PlayMining has a strong goal to pursue a direct connection between creators and users in the GameFi market. According to the company, PlayMining has over 2.4 million registered users from the Philippines, Taiwan, Indonesia, Vietnam, and Japan.