The Kyuzan Corporation (headquarters: Bunkyo-ku, Tokyo; CEO: Takumi Takahashi) announces the successful completion of a Series A fundraising round, raising a total of ¥260 million. Z Venture Capital and ANRI are among the new underwriters in this round.

Background of Fundraising

Since our founding in April 2018, our company has been developing service and technology infrastructure utilizing blockchain and NFT. Our NFT game "EGGRYPTO", which we are co-developing with Gamewith, started its service in April 2020 as the world's first mobile native NFT game. It has grown into the largest NFT game in Japan, with an easily accessible app that has appealed to many users. The number of monthly active users (MAU) has grown five times in one year, and the ratio of new users has shifted to a higher proportion of overseas users compared to Japan.

Furthermore, our NFT development platform "Mint", which started its service in April 2021, provides companies with the tools to issue and sell NFTs directly to users. We offer support for speedy NFT introduction and business startup. We are already supporting the construction of NFT platforms for top domestic brands and creators, including Rhizomatiks, Perfume, and fragment design.

The NFT market has grown rapidly in the past few months, and the monthly transaction volume of the world's largest NFT marketplace, "OpenSea", has exceeded ¥3 trillion solely on Ethereum transactions (Dune Analytics). While individual users can now sell NFTs thanks to the emergence of marketplaces, companies such as brands and content holders face challenges in selling NFTs and developing original platforms.

Mint, which we offer, provides brands and content holders with a smart contract construction system for their original NFTs, storefront construction, and payment systems necessary for NFT sales. We have been supporting companies in their rapid NFT utilization, including service design and legal aspects of NFT businesses.

In addition, compared to the rest of the world, there are few NFT services in Japan, and the situation in which there are very few service providers who can design and actually grow NFT services from scratch. We have developed our own NFT service from scratch and have the technology and know-how to provide the largest user base for NFT services in Japan, which we are applying to the development of Mint. Thus, our strengths include not only high-functioning tools but also support for launching an NFT business, including service design

EGGRYPTO will develop a new play-to-earn game mode and strengthen marketing with the aim of becoming the fastest-growing NFT game globally. Mint will develop platform features and strengthen its implementation support system in order to better assist brands and content holders in implementing NFT. Through these efforts, we aim to create an NFT publishing platform that can be used in Japan and globally.