Introduced fiat currency settlement to the NFT market
Digital Entertainment Asset Pte. Ltd. (DEA), a global developer of the GameFi platform business, announced on the 25th that it will introduce legal currency payments on its NFT (non-fungible token) marketplace.
Until now, the only payment method available was DEAPcoin (DEP), which is its own currency, but it is now possible to purchase NFTs (non-fungible tokens) with legal currency. One of the purposes is to lower the hurdles for users who are not familiar with blockchain games to play games.
Specifically, we will introduce legal currency payments such as PayPal and credit cards for NFT purchases at the “OFFICIAL STORE” (primary transaction) of the NFT marketplace “PlayMining NFT”. “USERS” (secondary transactions) will continue to be settled with DEP tokens.
Users can now select “USD” for NFT purchases from the official store. In the future, DEA plans to introduce fiat currency payment in each DEA game including “JobTribes” in addition to “PlayMining NFT”.
What are NFTs?
Abbreviation for “Non-Fungible Token”, a digital token that cannot be replaced and has a unique value. In addition to being used for exchanging “digital items” in blockchain games, it is also an epoch-making way for rights holders (creators) in the “secondary distribution market”, which was difficult to achieve with second-hand sales, as well as proof of ownership of high-priced art works. It is also attracting attention as a means of reduction.
▶️Cryptocurrency Glossary
Functions and features of PlayMining NFT
“PlayMining NFT” is an NFT auction service on the blockchain provided by DEA. It mainly has three functions: “MARKET”, “EXHIBIT” and “CATALOG”.
In “MARKET”, you can purchase NFTs from the official store and participate in bidding on NFT auctions posted by users. “EXHIBIT” allows users to list and sell their NFTs, and “CATALOG” is a function that allows users to search for all NFTs posted on “PlayMining NFT”.
This time, legal currency settlement has been introduced for purchases from the official store in “MARKET”.
“PlayMining NFT” is also related to various “Play to Earn” games provided by DEA, and NFTs for items that can be used in the game can also be purchased.
The virtual currency DEP that can be earned by playing the game can be used for payments on this NFT marketplace. It is also listed on the virtual currency exchange BITPOINT.
Relation: What is Deep Coin (DEP) listed on the crypto asset exchange BITPoint for the first time in Japan?
Partnership with Eole Co., Ltd.
DEA also announced on the 26th that it has signed a partnership with Eole Co., Ltd. to expand the Web3 business. Together, we will support the expansion of DEA’s GameFi users in Japan.
eole Co., Ltd. develops Internet advertising business. It operates Japan’s largest free mailing list service “Raku-Raku Communication Network”. As of September 2022, 7 million people are registered with the Raku-Raku Network.
In addition to comprehensive marketing, the two companies plan to collaborate mainly on the following items.
- Promote DEA’s NFT game with “Raku-Raku Contact Network”. Aim to acquire new game players.
- A corner about NFT games has been set up in the “Raku-Raku Contact Network” app. Improve awareness of GameFi and literacy about virtual currency and NFT.
What is GameFi
In one of the DeFi fields, it refers to projects and games that feature “Play-to-Earn” that allows you to earn money by playing games. Based on blockchain technology.
▶️Cryptocurrency Glossary
campaign in progress
DEA is currently holding a Thanksgiving Day to commemorate the introduction of fiat currency settlement and the first anniversary of DEP’s listing in Japan, and is developing various campaigns.
For example, 30% of the NFT price will be granted to users who purchase NFT with legal currency at the “OFFICIAL STORE” of “PlayMining NFT”. In addition, we will hold a special sale of the popular game “JobTribes” NFT and introduce a new plan with an annualized yield (APR) of 15% for 12 months by staking DEP.
