Why We Established MCH Co.,Ltd

The Next Stage of My Crypto Heroes - a note from double jump.tokyo Inc. CEO Ueno

I’d like to take this opportunity to announce our establishment of MCH Co.,Ltd., and provide you with a brief teaser of our plans to take My Crypto Heroes to its next stage of development. In brief, we plan to use this new entity, and a to-be-established corporation outside of Japan, to grow MCH Coin’s ecosystem and business operations, including to work toward listing MCH Coin on exchanges outside of Japan. Below please find the details. I hope you share my enthusiasm for this next stage of My Crypto Heroes’ growth.

As you know, blockchain games use blockchain technology to enable us to express the concepts of ownership and transfer (transactions) in a digital environment. This concept has made it possible to treat game items as assets.

In particular, the “NFT [ERC-721]” standard on Ethereum has created an ecosystem for digital assets by using non-fungible tokens (NFTs). The has led to the development of an entire new ecosystem, composed of companies and services. This includes My Crypto Heroes’ NFTs such as Heroes, Extension and Land.

Meanwhile, the DeFi (Decentralized Finance) space has been thriving on Ethereum, especially in 2020.

Looking back at Ethereum in 2020, a growing number of blockchain games and ecosystems adapted DeFi to reward their existing users and expand their user base by issuing fungible tokens (FTs) and listing on exchanges, primarily outside of Japan.

My Crypto Heroes has been moving in line with this trend, including to:

• Cooperate with external services, including those in the DeFi space
• Implement group battles GvG (Group Battle) via Cryptid War
• Realize user-led game operations

Specifically, we released the MCH Coin (ERC-20) as a governance token to realize the above three points. We feel that this MCH Coin has gotten off to a good start, in collaboration with outside services like Uniswap.

In light of various regulations (legal, tax, accounting, etc.), however, we cannot deny that we have less freedom and flexibility to issue and operate Fungible Tokens (FTs) as a legal entity incorporated in Japan, compared to companies operating overseas. We are keenly aware of the many hurdles and measures we might take to expand the ecosystem and increase the MCH Coin’s value.

The MCH team, as well as the board of directors of doublejump.tokyo (DJT), have discussed many times how to overcome these hurdles and accelerate the realization of DJT’s vision, Re-building the future of gaming with blockchain technology! As a result, we decided to establish a legal entity outside of Japan to attempt to list the MCH Coin on an exchange and to further expand the MCH Coin ecosystem.

As our first step to realize this vision, MCH Co.,Ltd will assume and continue to operate the My Crypto Heroes business and the MCH Coin as of January 31, 2021 from DJT, and will proactively support projects that are considering the introduction of Fungible Tokens (FTs) based on the development, issuance and results of operating FTs in My Crypto Heroes.

Next, we will promote the future development of these businesses by establishing a new company overseas and moving these businesses to such entity, after having first determined the most appropriate location for such new company.

Also, we plan to proactively work on and cooperate with projects outside of Japan and the promotion of listing the MCH Coin on crypto asset exchanges going forward by establishing a new company outside of Japan.

At this time, we have decided to have Mr. Ozawa of CryptoGames, Inc. as a Director, and Ms. Mai Fujimoto and Mr. Benjamin Rameau as advisors, join with Mr. Wakao, who is currently the producer of MCH, to accelerate the projects related to FTs. MCH will continue to actively consider the expansion of its domestic and international partner and advisory structure.

We sincerely hope that this decision will represent a big step forward to open up the future of blockchain games.

Click here for a link to the Medium article on the newly formed company MCH.

— -

double jump.tokyo Inc.

Website: https://www.doublejump.tokyo/
Twitter(JP):@doublejumptokyo
Twitter(EN):@doublejump_en