In today’s briefing:
- Sea (SE US) – Turning Up the Investment Dial
- Digital Entertainment Asset Raises Funding from Global Brain to Launch New Web3 Initiatives
Sea (SE US) – Turning Up the Investment Dial
- Sea (SE US) 2Q2023 results reflected some underlying slowdown but beneath the surface, the company’s core marketplace business saw accelerated growth, as it stepped up investment, and margins improved concurrently.
- The company invested in live streaming, bringing on 1m influencers in 2Q2023, likely stemming the impact of TikTok. The gaming business showed meaningful signs of recovery QoQ in 2Q2023.
- Sea (SE US) grew its cash reserves in 2Q2023 to US$7.7bn signifying the success of its business model. The short-term sell-off looks overdone possibly triggered by talk of quarterly losses.
Digital Entertainment Asset Raises Funding from Global Brain to Launch New Web3 Initiatives
- Digital Entertainment Asset (DEA), a Singapore-based Web3 entertainment company, today announced that it has secured undisclosed funding from Global Brain Corporation’s KDDI Open Innovation Fund III.
- In a press statement, DEA co-founder and co-CEO Naohito Yoshida said that the company is “very proud” to announce its new investment and collaboration with Global Brain.
- “We look forward to working together with KDDI to offer various Web3 incentives to a wider audience, including the use of PlayMining assets in the αU metaverse and joint efforts to promote DEA’s ‘GameFi-for-Good’ social impact initiatives,” he said.
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