Global alternative investment group LDA Capital has invested $10 million in Singapore-based Digital Entertainment Asset (DEA) while the OPEC Fund for International Development has committed $38 million to Bangladesh.
DEA secures $10m investment from LDA
Digital Entertainment Asset (DEA), the operator of NFT gaming platform PlayMining, announced that it secured a $10-million investment from alternative investment group LDA Capital.
The Singapore-based Web 3 entertainment company said the fresh investment will help develop its platform and boost market expansion. The startup earlier received a minority investment from Rakuten Capital.
Launched in 2018, DEA manages IP monetisation for content creators and operates the PlayMining platform, which comprises a growing selection of P&E games, the PlayMining NFT marketplace, an in-development PlayMining Verse metaverse, and the DEAPcoin token.
DEA also helps independent game studios launch NFT games and monetise their IPs on the PlayMining platform.
OPEC Fund commits $38m to boost Bangladesh’s energy security
OPEC Fund for International Development (OPEC Fund) has committed to provide Bangladesh with a $38-million loan to strengthen the country’s energy security, according to an announcement.
The fund, which was established in 1976 by the member states of OPEC, said the loan would contribute to the financing of a 500-megawatt wind farm and 160 kilometres of transmission lines in the country.
The commitment was part of the more than $500 million in new financing that OPEC Fund’s Governing Board approved in the final quarter of 2022. The Bangladesh commitment was part of the fund’s efforts to promote access to energy and renewable energy.
To date, the OPEC Fund has committed more than $22 billion to development projects in over 125 countries, with an estimated total project cost of $187 billion.
Bangladesh has made great strides toward its energy security objectives in recent decades. The electricity access rate, one of the lowest in the world in 2000 at 20%, increased to 97% by 2020, according to a report by USAID.