In a bold new venture, Japanese online claw machine operator CyberStep is set to launch CRYPTECH Capital, aiming to invest 1 billion yen into the burgeoning world of cryptocurrency. This strategic initiative will allow the company to establish a dedicated crypto treasury, enhancing its revenue base through innovative web3 technologies.
According to the latest reports, CRYPTECH Capital will focus on generating tokens specifically designed for purchasing major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). Rather than relying on traditional fundraising methods like issuing shares, CyberStep is introducing a novel concept known as a self-circulating token economy.
The launch will commence with an initial allocation of 200 million yen from the company’s own reserves, projected to rise to 1 billion yen (approximately $6.9 million) over time. However, CyberStep has stated that the final investment amount will remain contingent upon prevailing market conditions.
CyberStep aims to create and promote proprietary in-game tokens derived from its web3 gaming services, thus ensuring a sustainable flow of digital assets. The company’s existing token, the Eggle Energy token ($ENG), is an excellent example of this innovative approach. Launched last April, these tokens were part of a wider blockchain gaming venture, which further demonstrates the firm’s commitment to integrating cryptocurrency with gaming.
Moreover, CRYPTECH Capital is not only focused on established currencies but also aims to invest in promising meme coins and other gaming tokens within the crypto space. The company envisions achieving capital gains through rising asset prices, along with generating income via staking and liquidity provision in decentralized finance (DeFi) protocols.
As the cryptocurrency landscape continues to evolve, it’s worth noting that CyberStep’s venture aligns with similar moves from other gaming firms. For instance, recently, the Swedish company Fragbite announced its own plans to create a Bitcoin treasury, albeit with a more focused approach on acquiring BTC as a reserve asset.
In conclusion, CyberStep’s CRYPTECH Capital represents a significant milestone in the intersection of gaming and cryptocurrency, setting the stage for further innovations in the web3 sector. As they position themselves as leaders in this space, the coming years will be pivotal for both CyberStep and the broader gaming industry.
