DEAP Coin is a blockchain-based project that is developing a new platform for the PlayMining gaming field, where digital assets will be distributed in a new kind of infrastructure that compensates users by using blockchain technology.
DEAP Coin have set out to make that “if” into a reality. Until now, playing games have been an activity you paid money for to enjoy. We intend to completely change that basic premise. You will not have to spend a single penny to enjoy games any longer. Instead, you will earn money while you play games.
DEAP Coin are the next generation Entertainment Company that will create a new economy and culture with entertainment and assets in the digital age based on blockchain technology. A new culture and market created on the basis of “fun”. We will change/defy the conventional way of the era where we buy “fun” with the money we earn working.
With people from all over the world, we will create a new era of entertainment economy where we can live freely.
Problem DEAP CoinWant to Solve
The game industry has grown rapidly circa 2010 due to the growth of social media games. The games themselves are free to download, but the charging system within the games allowed for an unstoppable growth in the online social game industry, growing to as much as 10 trillion yen (approximately 92 billion US dollars). Most users begin playing online social games as a pastime, but in order to win in the games and to satisfy the desire to be recognized as a strong player, they end up paying an exorbitant amount of money. Moreover, the game makers use activity data as well marketing theories to create a system that makes it easier to use more money in the games.
For example, the inflation of buyable items is one way that encourages players to continuously pay money. Items that players bought become worthless after a certain period, so they decide to pay for the next better item. Many players gradually start to regret the amount of money they have used for something that repeatedly becomes worthless over time. That is precisely the kind of reality that our project wants to change.
A Brand New Concept: PlayMining
The DEAP Coin Project began with the goal to overturn the preconception of continuously charging users to play and as a result, making them feel tired of playing the game. Instead we want to reward our most loyal players who spend their time and enjoy our services. In order to realize this goal, we issued an original cryptocurrency that we will use to “reward game users instead of charging them.” Moreover, we are also creating an online platform where users can make use of the cryptocurrency they earned, and for this currency to circulate in its own economic zone.
In this new concept that DEAP Coin are proposing, user can play/appreciate to earn/mine rewards (cryptocurrency), so we have decided to name it “PlayMining.” Moreover, to mirror how Youtubers who make a living by uploading videos on Youtube, or TikTokers doing the same on TikTok, we wanted to create a system in which there will be a growing population of people who make a living by PlayMining. As such, people who hold this new “job” will be called “PlayMiners.”
Service ofDEAP Coin
The DEA Bank is where PlayMiners can manage their Digital Assets. PlayMiners can manage their Digital Assets in a secure environment by the implementation of blockchain technology.
Digital Art Auction
The Digital Art Auction is the market in which Digital Assets are traded and distributed. It has features to allow for new sales of Digital Asserts as well as secondary distribution between PlayMiners; PlayMiners can buy new Digital Assets as well as trade Digital Assets that they own with other PlayMiners. We want to make the auction site a highly entertaining and intuitively usable platform to allow for the experience of trading of Digital Assets a highly engaging one.
To break away from the common sense of the entertainment industry so far, we set our concept so that “users earn wealth from games/manga.” The points that can be earned in the game can be exchanged for the virtual currency (DEAPcoin) used on the PlayMining Platform, realizing our concept above. Moreover, the games DEAP Coin are releasing on our platform will be all free to play, and there are no charging systems in our games. Conversely, the more game one plays, and the more manga one reads, the more DEAPcoin one can gain.
In addition, the Game/Manga and the Digital Art Auction are designed so that they will interact with each other to decide the value of the Digital Assets collaboratively.
The DEAP CoinValue
In general, a currency’s value is based on what it can buy given that there is a limit to how much the currency is issued. In other words, the value of the currency correlates with the gross value of the economy which it is primarily used in. All original artworks of the Digital Arts on the PlayMining platform are owned by DEA. Therefore, in principle, the aggregate value of the Digital Arts would be caluculated as the market value of all circulating DEAP Coin.
In the PlayMining economic zone, the more Digital Assets there are, and the more game titles there are, the value of the economy which DEAP Coin is used in increases, and the aggregate market value of DEAPcoin grows proportionately. The maximum circulation amount of DEAPcoin is decided (Max circulation amount: 30 billion DEP, hereinafter 1 DEAPcoin = 1 DEP), so as the market value of DEAPcoin rises, the value of 1 DEP also rises.
Naohito Yoshida, Founder/CEO and Executive Creative Director Shigeru Shiina, Co-CEO and Executive Management Director Kozo Yamada, Chief Marketing Officer Shinya Kiriu, Chief Operating Officer Hiroshi Tsurusaki, Chief Technology Officer
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