Quick Take
Singapore’s Digital Entertainment Asset (DEA) is shaking up traditional work models by gamifying labor on its PlayMining GameFi platform. DEAPcoin ($DEP) surged as much as 64.14% following the announcement before settling at a figure 32.79% higher than its October 25th price. The move aims to combat labor shortages by engaging players in tasks that address societal problems, such as power pole inspection and waste management. DEA’s innovative approach is drawing attention and investment as GameFi tokens rally in the cryptocurrency market.
DEAPcoin Leads the GameFi Token Rally Ahead of Axie, Sandbox and Illuvium
Digital Entertainment Asset, a Singapore-based Web3 entertainment company, has turned heads in the cryptocurrency market with its groundbreaking approach to gamifying work. Since the announcement of its new business model on the PlayMining GameFi platform, the company’s native token, DEAPcoin ($DEP), has experienced a meteoric rise of 64.14% within two weeks before settling at a figure 32.79% higher than its October 25th price.
DEA’s “gamifying work” concept aims to tackle pressing societal issues such as labor shortages by seamlessly blending traditional employment with incentivized gaming experiences.
The co-founder and co-CEO of DEA, Kozo Yamada, stated, “We have been forging a large number of valuable, high-level partnerships with large corporations that aren’t traditionally Web3-based. By implementing our unique ‘gamifying work’ innovation, we are helping these companies crowdsource labor and integrate various work tasks with incentivized games on our PlayMining platform.”
One of the flagship projects already in development is a partnership with TEPCO Power Grid, Japan’s largest electric power company. This collaboration, set to launch in select regions of Japan in spring 2024, seeks to address the utility inspector labor shortage. Players will be incentivized to go outdoors and photograph aging power poles, competing to connect the most poles in a line and earning DEP token rewards.
Another project in the works targets the waste management industry, a sector often plagued by labor shortages due to the strenuous and unappealing nature of the work. PlayMining, in collaboration with waste management specialists Rita Technology, is developing a video game that rewards players for remotely controlling waste-sorting robots at waste-processing facilities in Japan.
These initiatives directly address the global labor shortage crisis, which affects a wide range of industries, particularly in energy, utilities, communication services, consumer goods manufacturing, industrials/materials, transport, logistics, and automotives. According to a 2023 report by ManpowerGroup, nearly four in five companies worldwide are grappling with labor shortages.
DEA’s pivot towards gamifying work has been buoyed by an investment from the KDDI Open Innovation Fund in August 2023, which connects startups with the resources of KDDI, Japan’s second-largest telecommunications company. This investment has allowed DEA to explore collaborations across various industries, including CO2 reduction, disaster prevention, local revitalization, inheritance, animal welfare, elderly quality-of-life, and employment opportunities for people with disabilities.
Kozo Yamada emphasized, “We are removing the barriers between work and play by creating a system that encourages everyone to contribute to society. To achieve this vision, we are positioning PlayMining as a ‘General-Purpose Web3 Middleware’ platform that solves real-world problems through gaming, crowdsourcing, and a token incentive model to connect businesses from any industry with community members. It’s a win-win prospect for all stakeholders involved.”
In the broader context of the GameFi market, PlayMining’s DEAPcoin has led the charge in the Q4 2023 GameFi rally. With a gain of 32.79%, it has outperformed well-known tokens like Axie Infinity (AXS), the Sandbox (SAND), and Illuvium (ILV), which have seen two-week price gains of 22.33%, 15.75%, and 31.24%, respectively.
DEA is a seasoned player in the GameFi space, having launched in 2018 alongside Axie Infinity. Their PlayMining GameFi platform boasts eight casual-play P&E games, two NFT marketplaces, and a ‘Watch-and-Earn’ streaming video application. It is also home to the Kamui Fujiwara Verse metaverse project.
As PlayMining pioneers a novel approach to addressing labor shortages, it is set to disrupt traditional work models and potentially reshape industries across the globe. With DEAPcoin’s remarkable performance in the market, DEA’s vision of gamifying work for the greater good is clearly resonating with investors and stakeholders alike.
For companies interested in exploring opportunities to gamify work with PlayMining, more information can be found via the following link: https://forms.gle/dVD2zRDQTS8tk8bY6
