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DMM Crypto partners with investors to expand Web3 economy

DMM Crypto partners with investors to expand Web3 economy

GrafaGrafa2024/10/23 08:05
By:Liezl Gambe

Japanese cryptocurrency exchange DMM Crypto has secured Florida-based global investment firm Neoclassic Capital as its lead investor. 

Additionally, it has formed a strategic partnership with Presto, a quantitative trading company. 

These collaborations aim to support DMM Crypto’s Seamoon Protocol, a new initiative focused on building a Web3 economic hub for businesses and creators.

DMM Crypto is a subsidiary of DMM.com LLC, a prominent Japanese media and entertainment conglomerate. 

The company plans to leverage its 45 million-strong user base to connect games, intellectual property (IP), and entertainment with the Web3 sector. 

With this goal in mind, Neoclassic Capital will provide funding and strategic guidance to help DMM Crypto expand its footprint both domestically and globally.

Steve Lee, co-founder and Managing Partner at Neoclassic Capital, praised DMM’s innovative approach, saying, "We highly value DMM’s track record as a leading Japanese entertainment conglomerate known for its entrepreneurial spirit and eagerness to embrace new technologies." 

He expressed optimism that their investment and strategic insight would aid DMM Crypto in its Web3 expansion efforts.

Michael Bucella, co-founder and managing partner at Neoclassic Capital, echoed Lee’s sentiments, emphasising the potential of Seamoon Protocol to bring DMM Group’s intellectual property development expertise and vast user base into the Web3 realm. 

The strategic collaboration is expected to enhance the growth of the protocol and expand its global reach.

Similarly, Ian Lau, head of investment at Presto, expressed confidence in the partnership’s ability to capitalise on DMM’s strong presence in the entertainment industry, allowing DMM Crypto to excel in the Japanese crypto market.

DMM Crypto, which launched in January 2023, plans to release its own blockchain called DM2 Verse on the Oasys Layer2 platform. 

The company also aims to issue its own token, Seamoon Protocol (SMP), and roll out additional blockchain-based games to further integrate its entertainment assets into the Web3 economy.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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