DMM Crypto Secures Funding and Announces Global Expansion Plans with New Strategic Partnerships

DMM Crypto Secures Funding and Announces Global Expansion Plans with New Strategic Partnerships

DMM Crypto, the blockchain gaming and NFT division of the Japanese crypto exchange operator DMM, has successfully secured funding from Neoclassic Capital and other investors as it sets its sights on global expansion. According to a recent press release from DMM and a report by the Japanese media outlet CoinPost, the company has entered into a strategic partnership with Presto, a Singapore-based quantitative trading firm and liquidity provider.

The funding round was led by Neoclassic, a Florida-based investment firm, although the exact amount raised has not been disclosed. DMM Crypto described this partnership as a pivotal move in expanding its services and accelerating its international growth. The broader DMM group has faced challenges in the past, notably when hackers stole approximately $305 million from its crypto exchange arm, DMM Bitcoin, in May. However, the establishment of DMM Crypto in 2023 signifies the company's ambition to enter the web3 and crypto gaming sectors.

Known in Japan for its video streaming, anime, and e-book services, DMM also operates various e-commerce ventures. DMM Crypto is currently developing the Seamoon Protocol, a web3 economic ecosystem designed to provide diverse businesses and creators with access to blockchain technology.

Steve Lee, Co-founder and Managing Partner of Neoclassic, expressed enthusiasm for supporting DMM Crypto’s vision, highlighting the company's track record as a leading entertainment conglomerate in Japan. He noted that this experience would be instrumental in advancing DMM Crypto’s global ambitions.

In addition to its funding news, DMM Crypto is poised to launch a new blockchain gaming title, Kanpani☆Girls RE

, later this month. The company also has plans to introduce several additional blockchain games in the near future and aims to expand into financial services following a recent collaboration with Hivemapper, a blockchain-powered AI mapping project. Earlier this month, Neoclassic made an investment in another Japanese blockchain gaming startup, doublejump tokyo, further indicating its commitment to supporting the burgeoning crypto gaming sector in Japan.