Digital Entertainment Asset (DEA), a Singapore-based worldwide Web3 entertainment firm that operates the PlayMining NFT gaming platform, announced today a memorandum of understanding with Rakuten Group for a Web3 collaborative cooperation.

Digital Entertainment Asset (DEA), announced today that it has inked an MOU with Rakuten Group for a Web3 collaborative agreement. Rakuten Capital, the corporate venture capital arm of Rakuten Group, is also making a minority investment in DEA by subscribing to share acquisition rights.

Rakuten was an early Web3 participant, having previously developed businesses such as the NFT marketplace and sales platform “Rakuten NFT,” one of Japan’s major NFT platforms, and its crypto asset trading exchange “Rakuten Wallet,” which supports Bitcoin and a variety of cryptocurrencies. The collaboration will see DEA and Rakuten work together on potential synergies in their respective businesses to increase the value of their services.

“We chose DEA because of the company’s proven track record on the global stage in the fast-growing Web3 domain led by an experienced management team,” said Hiroshi Takasawa, President of Rakuten Capital.

“Through this investment, I am looking forward to collaborating with DEA on a number of Web3 commercial initiatives.” We anticipate that Rakuten Group’s membership base, brand and business experience, and expertise in relevant sectors, as well as DEA’s experience in GameFi, token economy, and metaverse business promotion, will help both firms’ future business growth.”

“We are very delighted to have entered into a commercial arrangement with Rakuten Group, a major name in the Japanese tech industry, and we look forward to working together to develop amazing things,” said DEA Co-founder and Co-CEO Naohito Yoshida.

“Our companies have a lot of synergies that we can look into to generate top-notch Web3 content collectively.”

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