Enish, a Japanese gaming company, completes its first Bitcoin transaction worth almost $680,000
Enish Co., a Japanese gaming company known for the blockchain-enabled game series ‘De:Lithe Last Memories,’ has revealed its inaugural BTC acquisition worth 100 million yen.
As per a document released recently, Enish Co. indicated that it would dedicate 100 million yen, equivalent to $679,049, from its corporate funds to purchase Bitcoin (BTC). The company stated that the acquisition is expected to be finalized by April 4.
The announcement highlights that Enish’s recent BTC investment is part of its new financial strategy. The company is focused on diversifying its financial portfolio while leveraging Bitcoin’s liquidity and stability, along with the potential for profit through future price appreciation.
The Japanese gaming firm also mentioned that it would initiate quarterly assessments of its BTC holdings and commit to reporting any unrealized profits or losses in its financial statements.
As of the latest updates, Bitcoin has decreased by 1.3% over the last 24 hours, trading at $83,242. This recent drop in BTC prices may have influenced Enish’s decision to make a purchase while prices are currently lower than usual. Over the past week, BTC has fallen by 4.66%.
It has yet to rebound from this downturn, with its peak price hovering just below the $90k mark at $87,791, as reported by crypto.news.
In addition, the company aims to enhance its knowledge of blockchain technology through cryptocurrency acquisitions, thereby bolstering its technical expertise for creating more web3-based games.
Enish Co. is recognized for developing mobile games such as “De:Lithe – The King of Oblivion and Angel of the Covenant.” One of its newest entries in the De:Lithe series is the blockchain-based game “De:Lithe Last Memories.”
Released on July 25, 2024, “De:Lithe Last Memories” is characterized on its website as a Free to Play mobile game where players can earn tokens and purchase NFTs. Rewards are allocated through a reward pool as more tokens are utilized or as sales increase.
The majority of the game’s revenue is generated from advertisements and in-app purchases, which alleviates the reliance on tokens and NFTs themselves. The game’s token, xGEEK, is designed to maintain a fixed price, valued at $1.00 per 100 xGEEK tokens.
Japanese gaming studios have been venturing into web3 by developing mobile blockchain games. Recently, the Japanese messaging app LINE collaborated with Sony’s Soneium blockchain to launch four blockchain-based mini app games. Players can accumulate points through the games that are transferable to the main app.