[NEWS] GFA makes unusual investment in meme coin "NYANMARU Coin" that utilizes the IP of pachinko giant Maruhan

On the 11th, GFA, listed on the Tokyo Stock Exchange Standard Exchange, announced that it will begin investing in the meme coin "NYANMARU Coin (NYAN)" through its subsidiary GFA Capital. NYAN is based on "Nyanmaru," an IP of Maruhan, a major pachinko company.

According to the announcement, investment in NYAN will be issued as part of GFA's cryptocurrency dealing business. GFA announced that it would begin cryptocurrency dealing business on the 3rd of this month. It is extremely unusual for a listed company to invest in an emerging meme coin.

According to the official website, 100 billion NYAN have been issued, and they are issued on the Solana blockchain. In addition, it states that "NYAN has no function, utility, or intrinsic value, and there is no promise or expectation of monetary return, profit, interest, or dividends," and emphasizes that "it is issued solely for entertainment purposes."

Meanwhile, GFA explained in its announcement that it has determined that NYANMARU Coin is an appropriate investment target to maximize the potential of cryptocurrency dealing operations, citing its attractive characteristics, such as "We are supporting NYANMARU Coin through the WEB3 project "TAMAGO Project" supported by Maruhan Co., Ltd." and "We expect to see increased awareness and active community development, which are unique to meme coins."

System setup and trial operations will begin in the middle of this month, with full-scale operations scheduled to begin in January next year.

GFA explained that the background for starting cryptocurrency dealing operations is that Bitcoin spot ETFs are being formed mainly in the United States, and that countries are considering purchasing Bitcoin (BTC) as a strategic reserve asset, and that "BTC is attracting attention as a digital asset of the future." It also points out that there are cases in Japan where listed companies hold Bitcoin as a strategic reserve asset, and in some cases, the value of the company has increased in anticipation of investment returns.

Based on this, it seems that the company has decided that it will be profitable to promote its dealing business by focusing on investment in Bitcoin, but also targeting altcoins, which are expected to grow in the short term. It explains that in the future, the dealer in charge will buy and sell cryptocurrencies day and night, aiming to realize profits from proprietary trading.

GFA's stock price has soared by more than 26% from the previous day, reaching the limit high.

Reference: Announcement , NYAN official website
Image: Shutterstock

Related articles

Metaplanet announces plan to raise up to 9.5 billion yen to purchase Bitcoin

US company MicroStrategy buys large amount of Bitcoin, shares hit highest in 24 years