Coincheck, COLOPL Group’s Brilliantcrypto enter into agreement for IEO

Coincheck, Inc, a subsidiary of Monex Group, Inc, today announced that Coincheck and Brilliantcrypto, Inc. have signed an agreement for an Initial Exchange Offering (IEO).

Brilliantcrypto is a wholly owned subsidiary of COLOPL, Inc and has been in GameFi businesses utilizing blockchain technology.

IEOs are frameworks whereby a crypto asset exchange acts as the main party for screening the project and selling the issuer tokens in accordance with Japanese laws and regulations. Four IEOs have been completed in Japan up to date, and two of those, including Japan’s first IEO, were conducted on Coincheck’s IEO platform, “Coincheck IEO.”

COLOPL Group and Coincheck have agreed to collaborate and work together to create a new gaming experience and GameFi market. Brilliantcrypto plans to issue its new crypto asset and Coincheck will sell it on “Coincheck IEO,” and subsequently, will start handling the crypto asset on its crypto assset trading service “Coincheck.”

The new crypto asset will be used in a blockchain game being developed by Brilliantcrypto. Through these collaborations, Brilliantcrypto aims to create a highly engaged community by leveraging Coincheck’s user base from the early stages of the game’s launch.

Further details, including the expected timing of the IEO, and the name and ticker of the new crypto asset, will be released once determined.