Brilliantcrypto, Inc. teamed up with crypto asset trading service provider Coincheck ahead of an IEO (Initial Exchange Offering). Brilliantcrypto was established in November 2022 as a wholly owned subsidiary of COLOPL, Inc., to carry out GameFi projects using blockchain tech.
What does the partnership mean for the industry?
With this alliance, and through the interconnected business of Brilliantcrypto’s currently in-development blockchain game and Coincheck’s crypto asset trading service, the two firms will work to create a new game experience and GameFi market on the global stage.
The large-scale Japanese blockchain game project will introduce “Proof of Gaming,” a new concept that works for the benefit of others (through guaranteeing value), inspired by the “Proof of Work” mechanism of Bitcoin. It aims to make sustainable play-to-earn a reality.
By utilizing the revolutionary crypto asset exchange user base and sales network of Coincheck, which is the largest scale exchange and has the best track record with Initial Exchange Offerings among domestic crypto exchanges, Brilliantcrypto plans to acquire trust, and aims to achieve a highly enthusiastic user base from the launch period of the game.
What does the partnership mean for Coincheck?
Isaka Tomoyuki, Vice-President, Executive Committee Member & Crypto Asset Operations Department Manager at Coincheck, said, “The GameFi market is still developing, and there is a demand for this new type of game experience that combines finance and entertainment using blockchain tech. There are many debates taking place about GameFi around the world.”
“I believe that between theorizing about it, and shaping it into something that you can implement into the design of a game that is playable, there is an extraordinarily large gap.”
“The COLOPL group and its Chief Creator Naruatsu Baba are a rare force in the industry that bridges that gap by delivering original game design aligned with new eras in the gaming industry to their users. I am therefore very pleased to be working on an Initial Exchange Offering with the creative team from Brilliantcrypto which is spearheaded by Mr. Baba.”
“As a leading company for Initial Exchange Offerings and crypto asset exchange in Japan, we want to put our full support behind companies that aim to develop the Web3/Crypto industry, or creators that are giving this new type of game design a challenge,” Isaka Tomoyuki said.
What does the partnership mean for Brilliantcrypto?
Naruatsu Baba, CEO of Brilliantcrypto, said, “Brilliantcrypto was established to take on the challenges of blockchain gaming, and create games that truly shine and stand out. We feel elated that Coincheck felt a deep connection with our vision ‘to harness the power of games and blockchain tech to create new value’ and thus decided to become our IEO partner.”
“Through the partnership of our company, which has spent many years using technology and individualistic ideas to carry out business in the mobile gaming industry, with Coincheck, the largest crypto exchange in the domestic market, we aim to make a huge impact in not only the Japanese Web3 industry, or just in the gaming industry, but in all areas of the world.”
“On July 25th at the WebX 2023 event, which is to be held at the Tokyo International Forum, I plan to deliver a presentation and reveal the project to the world. Please look forward to our project, which will bring a never-seen-before, new type of value out into the world.”
Brilliantcrypto will hold a presentation on July 25th 14:00 JST at the “WebX 2023” event, which will be held at the Tokyo International Forum on July 25th and July 26th. WebX 2023 is a global conference where the main players in Web3 from other countries will gather. On the day, the founder and current chairman of COLOPL, Inc., Mr. Naruatsu Baba will be presenting.