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Singaporean GameFi Firm Raises $12M During Seed Funding Round

GameFi Firm News
  • Singapore-based Digital Entertainment Asset (DEA) has raised over $12 million during its seed funding round.
  • The company will use the fund to create a GameFi ecosystem.
  • Since its inception, DEA has focused on P2E to make gaming a sustainable livelihood for gamers.

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.

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Bahira Maisoon is a researcher and writer for CoinQuora. She specializes in covering news and writing about blockchain and crypto assets to introduce people of all ages to the world of digital assets.