Enish Co., a Japanese gaming company known for its blockchain-based series ‘De:Lithe Last Memories,’ has revealed its inaugural Bitcoin (BTC) acquisition worth 100 million yen.
A recently released document indicates that Enish Co. plans to invest 100 million yen, approximately $679,049, of its corporate resources into Bitcoin (BTC). The company expects to finalize this purchase by April 4.
The statement highlights that the new BTC acquisition aligns with Enish’s current financial strategy. The company aims to diversify its financial portfolio while capitalizing on Bitcoin’s liquidity and stability, with the added goal of profiting from potential price increases in the future.
Enish has committed to conducting quarterly reviews of its BTC investments and will incorporate any unrealized gains or losses into its financial reports.
At the time of writing, Bitcoin has decreased by 1.3% over the past 24 hours, trading at $83,242. The recent drop in BTC prices may have influenced Enish’s decision to make the purchase while the prices are lower than usual. Over the last week, BTC has fallen by 4.66%.
It has not yet recovered from this decline, with its peak price hovering just below the $90,000 mark at $87,791, as per recent data.
Furthermore, the company intends to enhance its understanding of blockchain technology by acquiring cryptocurrency, aiming to bolster its technical expertise in developing more web3-based games.
Enish Co. is recognized for its mobile games, including “De:Lithe – The King of Oblivion and Angel of the Covenant.” Its recent addition to the De:Lithe collection is a blockchain-based game called “De:Lithe Last Memories.”
Launched on July 25, 2024, “De:Lithe Last Memories” is described on its site as a free-to-play mobile game where players can earn tokens and purchase NFTs. Rewards are distributed from a reward pool as tokens are utilized or sales increase.
The majority of the game’s revenue is generated through advertisements and in-app purchases, minimizing the dependence on tokens and NFTs themselves. The game’s currency, xGEEK, is structured to maintain a fixed value, at $1.00 for every 100 xGEEK tokens.
Japanese gaming firms are increasingly exploring web3 technology by developing mobile blockchain games. Recently, messaging app LINE partnered with Sony’s Soneium blockchain to launch four blockchain-based mini-app games, allowing players to earn points that can be transferred to the main app.