Press Release
Signing of Memorandum of Understanding (MoU) to Explore the Leveraging of Power Assets for Interactive Content that Contributes to Society
July 25, 2023
Greenway Grid Global Pte. Ltd.
Digital Entertainment Asset Pte. Ltd.
TEPCO Power Grid, Inc.
Greenway Grid Global Pte. Ltd.*1 (Headquarters: Singapore; President and CEO: Kazuhiko Shiba, hereinafter referred to as, "GGG"), Digital Entertainment Asset Pte. Ltd.*2 (Headquarters: Singapore; Founder & CEO: Naoto Yoshida, Founder & Co-CEO: Kozo Yamada, hereinafter referred to as, "DEA"), and TEPCO Power Grid, Inc. (Headquarters: Chiyoda-ku, Tokyo; President and Executive Officer: Yoshinori Kaneko, hereinafter referred to as, "TEPCO PG") have signed a memorandum of understanding to explore the leveraging of electric power assets for interactive content that contributes to society.*3.
The objective of this MoU is to enable the three companies to consider solutions that leverage WEB3.0*4 technology in order to achieve a sustainable society. The interactive content to be developed and examined under this agreement aims to enable users to enjoy while helping to solve problems faced by infrastructure companies based on the concept of "Creating a Sustainable Future Together."
The content will consist of enjoyable games that actually aid with the maintenance of local infrastructure facilities, such as by detecting abnormalities before problems manifest, etc., thereby contributing to society. Additionally, mechanisms that leverage power asset NFTs*5 to enhance the gaming experience, such as enabling players to earn tokens*6 based on gameplay, will also be considered.
GGG views the global expansion of WEB3.0 as an opportunity and will continue to manufacture and produce power asset NFTs while exploring mechanisms for creating added value by leveraging electric power asset NFTs.
DEA aims to enable everyone to simultaneously experience Web3 entertainment while contributing to a sustainable society through Play to Earn, and is leading game development efforts.
TEPCO PG aims to create new methods for leveraging electric power assets in partnership with collaborators, thereby delivering unique value through close-to-home electric power assets and enhancing the efficiency of facility maintenance.
Going forward, the three companies will continue detailed discussions as they aim to commence trial operations in Japan by the beginning of 2024.
- *1
GGG is a joint venture established in Singapore by TEPCO Power Grid, Inc., Chubu Electric Power Co., Inc., and ICMG Partners Pte Ltd. It aims to become a company that brings happiness to the world through three integrated businesses – Investment in next-generation infrastructure and new technology, development of new businesses, and leadership development.
- *2
DEA owns and operates the NFT game platform "PlayMining," which has over 2.7 million users in more than 100 countries as of March 2023. DEAPcoin, issued by DEA, is Japan's first Play to Earn*7 token and has become a leading presence in the global GameFi*8 field.
- *3
Electric power assets refer to the facilities owned by TEPCO PG, such as utility poles and transmission towers.
- *4
WEB3.0 is an "economy for co-creating, owning, and exchanging value using tokens, such as cryptocurrencies on blockchain." Source: Web3.0 (METI / Ministry of Economy, Trade, and Industry)
- *5
Electric power asset images digitized using NFT*9 technology.
The Sale of "Electric Power Asset NFT (Transmission Tower NFT Card, Utility Pole NFT Card)” (March 31,2023):
https://www.tepco.co.jp/en/pg/about/newsroom/press/archives/2023/20230331_01.html - *6
Tokens are unique cryptographic assets issued by companies or individuals using blockchain technology.
- *7
Play to Earn refers to the concept of earning rewards by playing games.
- *8
GameFi is a term that encompasses various games incorporating decentralized finance
(DeFi) elements using blockchain technology. - *9
Non-Fungible Token, abbreviated as NFT, is a technology that uses blockchain to certify that a digital asset is unique and cannot be replicated.
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