SINGAPORE, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Digital Entertainment Asset (DEA), a Singapore-based global Web3 entertainment company and owner of the popular PlayMining GameFi platform has listed their proprietary DEAPcoin ($DEP) token on Tokenize Xchange. The listing represents the first time DEAPcoin can be traded directly with US dollars and Singaporean dollars on a cryptocurrency exchange, marking a milestone in accessibility for the token.
Established in 2017, Tokenize Xchange is a prominent cryptocurrency exchange headquartered in Singapore and licensed in Malaysia. The exchange has more than 100,000 daily users, most of whom hail from Singapore, Malaysia, Thailand and Vietnam.
“Southeast Asia is a vital market for PlayMining’s global GameFi expansion strategy,” said DEA co-founder & co-CEO Naohito Yoshida. “By making DEP available for direct trading with USD and SGD on Tokenize Xchange, we are making Play and Earn (P&E) gaming more accessible for people in Southeast Asia and around the world.”
In addition to Tokenize Xchange, DEP can also be traded on other popular cryptocurrency exchanges including OKX, Gate.io, Bitrue, Uniswap and Bitmart.
$DEP: On the Vanguard of the Global GameFi Market Rally
GameFi tokens have been rallying across the cryptocurrency market since late October, and show no signs of stopping. PlayMining’s DEP token is among the strongest performing tokens, with a one-month percentage increase of 38%. When the token first began rebounding on October 25th, DEP’s initial two-week price jump exceeded 60%.
In comparison, two of the most well-known GameFi tokens, Axie Infinity (AXS) and the Sandbox (SAND), have respectively risen in price 16.77% and 14.45% over the past 30 days.
In addition to joining the ongoing rally, DEP’s bullish market performance directly followed PlayMining’s announcement of several high-level partnerships and a new business model dubbed “Gamifying Work”:
Solving Labor Shortage Crisis by #GamifyingWork
“We are collaborating with many large corporations that don’t otherwise operate in the Web3 space. We are able to help these companies overcome serious labor shortages by ‘gamifying’ work tasks within P&E games on the PlayMining platform,” said DEA’s other co-founder and co-CEO Kozo Yamada.
Companies around the world are mired in an ongoing severe labor shortage crisis. In fact, an estimated four out of five businesses may suffer from a lack of talent, according to a 2023 report by ManpowerGroup, with heavy industries being especially prone to understaffing problems. Under their new Gamifying Work initiative, a number of PlayMining’s key partnerships are in the heavy industries.
A pilot project is underway in partnership with the world’s fourth-largest electric power company, TEPCO Power Grid. The company is also the single largest power company in Japan, where a labor shortage of power pole inspectors is making it hard for the company to keep up with aging power infrastructure. PlayMining is developing a P&E game that rewards teams of players with DEP tokens to go out and take pictures of power poles in their local communities, thus helping fulfill an important service for TEPCO Power Grid. The game is scheduled to launch in specific regions of Japan in spring 2024.
Another project is in the works through a partnership with Rita Technology, a company that specializes in the digital transformation of the waste management industry. This industry suffers from labor shortages due to a perception of the job being dirty, dangerous and difficult. To alleviate this problem, PlayMining is developing a P&E game in which players can receive DEP rewards for remotely controlling real physical robots installed in waste-processing facilities in Japan.
In August this year, DEA secured investment from a fund operated by KDDI, Japan’s second-largest telecom operator, with the purpose of opening up more business collaborations with startups across KDDI’s group network. PlayMining announced at the end of October that it is now moving forward with new projects that address problems in a variety of industries, including: disaster prevention, CO2 reduction, animal welfare, local revitalization, inheritance, employment for people with disabilities, and elderly quality-of-life.
The new social good games will join a growing catalog of P&E games on the PlayMining GameFi platform, including JobTribes, Menya Dragon Ramen, Cookin’ Burger, Lucky Farmer, Graffiti Racer, Lost Archive +, SOUL Fusers and Rogue Roll Ruler’s. The DEP token can be used to purchase utility and art NFTs on the platform’s two NFT marketplaces. PlayMining also has a streaming video application that allows users to ‘Watch-and-Earn’, as well as a metaverse project that allows manga fans to collaborate with the artist Fujiwara Kamui.
Companies that are interested in discussing ‘gamifying work’ opportunities with PlayMining can use the following link to get in touch: https://forms.gle/dVD2zRDQTS8tk8bY6
About Digital Entertainment Asset
Digital Entertainment Asset Pte. Ltd. (DEA) is a Singapore-based global Web3 entertainment company founded in August 2018. DEA is a developer of Play-to-Earn (P2E) games—also referred to as Play-and-Earn (P&E) games. DEA also operates the PlayMining gamefi platform, NFT marketplace and ‘Verse’ metaverse project as well as DEAPcoin ($DEP)—the first P&E token approved by the Financial Service Agency (FSA) of Japan. The team is headed by two co-CEOs—Naohito Yoshida and Kozo Yamada—who together bring decades of experience in founding successful startups (with 3 IPOs), creating hit video games, producing Web TV programs and displaying a deep understanding of NFT gaming.
PlayMining is a GameFi and metaverse platform that empowers creators who would otherwise benefit very little in the traditional IP creation industry. The PlayMining platform is a new business model for content creation, featuring an NFT Marketplace powered by the PlayMining DEAPcoin ($DEP), paired with an NFT gaming and Metaverse platform. Featuring both in-house games as well as third-party projects with their own native tokens that allow creators to capture much of the value they create, the PlayMining platform has 2.7 million users and a catalog of P&E game titles including Job Tribes, Cookin’ Burger, Menya Dragon Ramen, Graffiti Racer, Lucky Farmer, Lost Archive +, Rogue Roll Ruler’s and SOUL Fusers, as well as the metaverse project Fujiwara Kamui Verse.
PlayMining Website: https://playmining.com
PlayMining Discord: https://discord.com/invite/xWeHGdt
PlayMining Twitter: https://twitter.com/PlayMining_SG
PlayMining Facebook: https://www.facebook.com/PlayMining/
PlayMining Medium: https://medium.com/playmining-game
PlayMining Youtube: https://www.youtube.com/channel/UCGWmK0RLV4SB_PSXpj2j6dw
DEA Website: https://dea.sg
DEP/USD on Tokenize Xchange: https://tokenize.exchange/trade/USD-DEP
DEP/SGD on Tokenize Xchange: https://tokenize.exchange/trade/SGD-DEP
About Tokenize Xchange
Tokenize Xchange was established in 2017. The company is headquartered in Singapore and operates with a license in Malaysia. For more details about Tokenize Xchange, please visit the following official channels.
X (Twitter): https://twitter.com/TokenizeXchange
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8dc040bc-aede-465c-b11e-ffbc9d3156e3