Japanese cryptocurrency exchange DMM Crypto has secured Neoclassic Capital, a Florida-based global investment firm, as its lead investor. DMM Crypto also partnered with Presto, a quantitative trading company. The investments will support DMM Crypto’s Seamoon Protocol, which aims to create a Web3 economic hub for businesses and creators.
Bringing DMM Group’s IP Development Capabilities to Web3
Japanese cryptocurrency exchange DMM Crypto, a subsidiary of media and entertainment conglomerate DMM.com LLC, recently announced the coming on board of Neoclassic Capital, a global investment firm headquartered in Florida, as its lead investor. Additionally, the exchange has established a strategic partnership with quantitative trading company Presto.
Through its Seamoon Protocol, DMM Crypto aims to build an economic hub for Web3 businesses and creators while Neoclassic Capital will contribute funding and leverage its global network and strategic expertise to support this initiative.
Commenting on the Florida-based investment firm’s role as lead investor, Steve Lee, co-founder and Managing Partner at Neoclassic Capital, said:
We highly value DMM’s track record as a leading Japanese entertainment conglomerate known for its entrepreneurial spirit and eagerness to embrace new technologies. DMM Crypto aims to leverage DMM’s 45.07 million user base to lead the entertainment chain connecting the vast market of games, IP, and entertainment to web3. Neoclassic Capital is excited to support DMM Crypto’s vision for expansion in Japan and globally.
Michael Bucella, fellow co-founder and managing partner at Neoclassic Capital, echoed Lee’s sentiments, expressing optimism that the strategic partnership would enable Seamoon Protocol to bring DMM Group’s intellectual property development capabilities and tens of millions of users to the Web3 industry.
Ian Lau, head of investment at Presto, shared similar enthusiasm, hoping that the partnership would allow DMM Crypto to leverage DMM’s strong presence and extensive knowledge in the entertainment sector to excel in the Japanese cryptocurrency market.
DMM Crypto, launched in January 2023, plans to release its own blockchain, DM2 Verse, on the Oasys Layer2. The exchange also intends to issue its own token, Seamoon Protocol (SMP), and unveil additional blockchain games.