[NEWS] BRIL, a cryptocurrency issued by a subsidiary of COLOPL, raises over 1.5 billion yen in 13 minutes after IEO applications begin

Brilliant Crypto Token (BRIL), for which domestic cryptocurrency exchange Coincheck began accepting purchase applications on the 27th, has exceeded its target amount of 1.512 billion yen in just 13 minutes.

According to the announcement, this is the highest amount ever raised in an IEO conducted in Japan.

Applications for BRIL are being accepted until June 10th on Coincheck's IEO platform, Coincheck IEO.

BRIL is a cryptocurrency that can be used in the Japanese blockchain game Brilliantcrypto. The game is scheduled to be released on June 17th.

In Brilliant Crypto, players can earn gems and cryptocurrency by digging in mines in the game with a pickaxe. In Brilliant Crypto, pickaxes and gems are NFTs, and players can use BRIL to purchase, strengthen, and restore the durability of "Pickaxe NFTs" to be used in the game.

BrilliantCrypto has signed a global partnership agreement with Paris Saint-Germain, one of the world's top soccer clubs, and is working to increase awareness around the world, especially in Southeast Asia and South America, where blockchain games are popular.

Through the sale of BRIL, which BrilliantCrypto and Coincheck have been preparing, they will deliver a new value exchange experience to many users.

The BRIL IEO is the third IEO case in Coincheck IEO and the sixth in Japan. Coincheck IEO is also known as an IEO platform that connects companies and projects conducting IEOs with cryptocurrency users through the sale of cryptocurrency, by conducting strict screening of issuers and the cryptocurrency issued by Coincheck, and supports the formation of communities and fundraising for companies and projects.

It is noteworthy that this is the first IEO in Japan by a wholly owned subsidiary of a listed company. For listed corporate groups, which are required to have high standards of accounting audits and internal control, it has been very difficult to develop a business using cryptocurrency. Colopl will take on these challenges through its subsidiary BrilliantCrypto.

Reference: Announcement
Image: Announcement

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