Japanese gaming firm CyberStep plans to invest 1b yen into its new crypto arm

Japanese online claw machine operator CyberStep is launching a new business arm called CRYPTECH Capital which will generate tokens used to buy BTC and ETH as reserve assets. According to a recent report on CoinDesk Japan, the company that operates the online claw machine game “Toreba” has established its own dedicated crypto stockpile firm to manage its corporate crypto holdings. The newly established branch is called “CRYPTECH Capital” and it is responsible for building a new revenue base for the company built with a web3 focus. Rather than issuing commercial shares or opening stock bids to generate revenue for a dedicated crypto treasury, CyberStep plans to adopt a new business strategy dubbed the “self-circulating token economy” instead. As a starter, the company will allocate 200 million yen from its own funds as an initial purchasing budget in the fiscal year that ends in May 2026. Afterwards, the company plans to gradually increase the funds allocated to the strategic reserve to as much as 1 billion yen ($6.9 million). However, the firm stated that the plan is still subject to change depending on market conditions. You might also like: Japanese fashion brand ANAP buys more Bitcoin ahead of 1,000 BTC goal The strategy involves CyberStep creating and promoting their own in-game tokens from the company’s web3 game services. The generated native token stockpile will then be exchanged for major cryptocurrencies such as Bitcoin ( BTC ) and Ethereum ( ETH ). The major tokens will be stored within the company’s balance sheets and classified under “corporate assets.” An example of a “self-circulating token” created by the gaming firm include the Eggle Energy token $ENG that was launched by the firm last April. The tokens were part of a larger venture that involved a blockchain game called Eggle and an NFT line in the works. In addition to Eggle Energy tokens, CyberStep’s Cryptech Capital also plans to invest in promising meme coins and other web3 gaming tokens in the crypto space. “The company plans to achieve both capital gains from rising asset prices and income gains through staking and providing liquidity to DeFi protocols across its portfolio,” wrote the company in its translated press release. Most recently, the Swedish gaming firm Fragbite also released plans to establish its own crypto stockpile. However, the focus would lie mostly on Bitcoins as the sole reserve asset, investing some of its corporate funds into acquiring BTC. Read more: Fragbite Group stock shoots up 64% following plans to establish a Bitcoin treasury