Digital Entertainment Asset Pte. Ltd. (DEA), the global developer of the GameFi platform, will buy back DEAPcoin (DEP) on January 5th in an effort to sustainably increase the value of its proprietary crypto asset. The DEAPcoin buyback program will run from January 2021, using up to 40% of DEA’s sales (excluding PlayMining business sales by DEAPcoin) as the source of funds. The specific timing and amount of the buyback will be published in the company’s white paper, taking into account market trends and the situation in the PlayMining economic zone. The repurchased DEAPcoin will be used for lockup, staking rewards, and other purposes.

DEAPcoin is a utility token for purchasing non-fungible tokens (NFTs) and in-game items on the GameFi platform, “PlayMining,” which was launched by DEA in May 2020. DEAPcoin is traded on several domestic exchanges, including BITPOINT, OKCOIN Japan, and Huobi Japan. The platform has over 2.8 million users in 100 countries worldwide.

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