DEAPcoin (DEP) serves as the native cryptocurrency of the Digital Entertainment Asset (DEA) network, with the goal of transforming the digital entertainment industry. By leveraging blockchain technology, DEA aims to connect and incentivize content creators, distributors, and users within the digital entertainment space.
What is DEAPcoin
DEAPcoin (DEP) is an ERC-20 token that powers the PlayMining platform, a play-to-earn (P2E) NFT gaming platform. At its core, PlayMining is a dynamic platform offering an array of games where participants can earn DEP as they engage in gameplay. This earned DEP can then be utilized within the PlayMining NFT marketplace to acquire NFTs, enhancing the immersive gaming experience.
In addition, creators can utilize DEP to access PlayMining's resources and develop game-focused metaverse projects. PlayMining addresses IP and copyright challenges by rewarding original creators perpetually from sales. Among the prominent offerings in the PlayMining ecosystem are the JobTribes card battle game and the Fujiwara Kamui Verse.
The DEAPcoin team
DEP was introduced by DEA in 2018, led by Naohito Yoshida, the acting CEO. Yoshida brings a wealth of experience in NFT and video gaming, having successfully overseen three initial public offerings (IPOs) in Japan. The team at DEA is composed of various industry professionals, including Kozo Yamada (Co-CEO), Ryohei Nuka (CFO), Hideaki Kurihara (CMO), and Satoshi Araragi (Chief Gaming Officer), among others.
DEA’s native token: DEP
DEP, the native ERC-20 token of the PlayMining ecosystem, plays a vital role in facilitating transactions, in-game rewards, and purchases within the ecosystem. The token supply has a fixed cap of 30 billion tokens, and DEA has implemented a deflationary economics model through its token-burning mechanism. The token-burning mechanism follows DEA’s token buyback policy, where tokens bought back are burned to stabilize PlayMining’s economy and reduce the token supply over time.
DEP tokenomics and distribution
The distribution of DEP tokens is transparent, with less than 4 percent allocated to the team members. The majority of the tokens, accounting for 66 percent, were reserved for the ecosystem to incentivize participation in NFT and GameFi services. Around 30 percent of the tokens were allocated to early-stage initial coin offerings (ICOs).
DEAPcoin: The road ahead
With a successful investment round of $10 million from LDA Capital and strategic partnerships with TV Tokyo and the Rakuten Group, DEA’s PlayMining ecosystem, which includes DEAPcoin, is poised for significant growth.
DEA has also ventured into Web3 ad services with the introduction of its "Answer to Earn" functionality in May 2023. These developments showcase the commitment of DEA to push the boundaries of digital entertainment and create new opportunities for content creators, gamers, and users within the PlayMining ecosystem.
