- CyberStep launches CRYPTECH Capital with ¥1B crypto investment plan.
- Focus on Bitcoin, Ethereum, and Web3 gaming tokens like $ENG.
- Aims to build a self-circulating token economy for revenue.
The Japanese online entertainment firm CyberStep, a firm that runs an online claw machine game, Toreba, has announced a new investment fund, CRYPTECH Capital, and has committed 200 million Yen to the project. The company intends to ramp this up to ¥1 billion ($6.9 million) by 2026. It has an eye on creating a strategic crypto stack. The relocation is one of the shifts that CyberStep will take to move into Web3. It will use the benefits of blockchain technology to develop a self-sustaining token ecosystem.
The firm will also acquire large cryptocurrencies such as Bitcoin and Ethereum, recording them as company assets on its balance sheet. Also, CyberStep strives to work on and market in-game tokens regarding its Web3 gaming services, which is an indication of a transition to decentralized digital communities.
Building a Self-Circulating Token Economy
CRYPTECH Capital will target to make its revenue based on a special mechanism called the self-circulating token economy. The division will develop tokens for use in CyberStep’s gaming companies instead of selling commercial shares or bidding stocks. Such tokens, including the Eggle Energy token ($ENG) introduced in April 2024, are components of entire initiatives. These include the blockchain game Eggle and future NFT collections.
The company is also set to invest in lucrative meme coins and other Web3 gaming tokens. The company will use this strategy to diversify its crypto holdings as it integrates blockchain technology into its gaming ecosystem. A CyberStep spokesperson said, “We have it in mind to create a new source of revenue by developing an innovative token-based system.”
The strategic approach of CyberStep is associated with the increased popularity of digital assets in Japan. The Financial Services Agency (FSA) has recently suggested the idea to change the status of cryptocurrencies to the same level as financial products, thus dropping the tax rates to 20% flat. The move in regulation may improve institutional and retail exposure in the Japanese crypto market, setting the stage well in terms of CyberStep’s aspirations.
CyberStep plans to form its crypto reserve with an initial investment in Bitcoin and Ethereum and expects to increase it imminently based on its expertise and development progress. The 1 billion goal is also dynamic, which gives the company the freedom to navigate the unstable crypto space. One of the representatives of the company mentioned that the company strives to achieve the optimum balance between risk-taking and opportunity. They do this by moderating such investments appropriately.
This act by the firm is part of a trend where Japanese firms are adopting digital assets. As an example, Metaplanet just added to its Bitcoin inventory with 7,800 BTC, making it a significant corporation holder, Benzinga. CyberStep’s entry into crypto reflects a broader trend of blockchain adoption in Japan’s business sector.
The post Japanese Gaming Giant CyberStep Launches Crypto Arm with ¥1B appeared first on Live Bitcoin News.
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