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Brilliant Crypto sets record for highest IEO participation and starts trading on Coincheck | by Norbert Gehrke | Tokyo FinTech | June 2024

Tokyo FinTech

Coincheck reported that the Coincheck Initial Exchange Offering (IEO) service for the Brilliant Crypto Token (BRIL) received applications totaling 33.3 billion yen from 79,400 applicants, setting new records for the highest JPY value and number of applicants of any IEO conducted on Coincheck IEO to date.

The IEO closed purchase applications on June 10, 2024, and a lottery was conducted. Notifications of lottery results and BRIL distribution to winners were made on June 11 and 12, 2024. In addition, BRIL trading began on June 17 on the Coincheck exchange and the over-the-counter market (once sufficient liquidity was achieved).

In addition to the BRIL IEO, Coincheck also conducted an “INO” (Initial NFT Offering) for the “Tsuruhanashi NFT” collection required to play the blockchain game “Brilliant Crypto”. All applicants to the BRIL IEO received a pre-order slot to participate in the “Tsuruhanashi NFT” pre-order sale that began on June 12, 2024. The “Tsuruhanashi NFT” is an item required to acquire BRIL and gems in the game “Brilliant Crypto” released on June 17, 2024, and this INO provided the earliest and cheapest opportunity to acquire it.

About BRIL

BRIL is a crypto asset issued on the Polygon blockchain and can be used in the blockchain game Brilliant Crypto. In Brilliant Crypto, players can obtain gems and crypto assets by mining in-game mines using a pickaxe.

Pickaxes and gems in “Brilliant Crypto” are NFTs, and players can use BRIL to purchase or upgrade “Tsuruhanashi NFTs” used in the game, restore durability, and more. BRIL can also be used to launch the game and play more efficiently.

Further details about BRIL can be found in a white paper published by the issuer Brilliant Crypto.

About the blockchain game “Brilliant Crypto”

Brilliant Crypto is a blockchain game that introduces a new model called “Proof of Gaming”. Inspired by the Bitcoin consensus algorithm “Proof of Work”, the “Proof of Gaming” model allows the player to prove the value of gems and thus create value for others. It is a global Japanese project with the goal of creating a valuable economic sphere in the metaverse.

About Brilliant Crypto

Brilliant Crypto is a wholly owned subsidiary of COLOPL, which operates various blockchain gaming companies. Brilliant Crypto was founded to seriously address the challenges of blockchain gaming and develop a dazzling game that attracts people's attention. Leveraging blockchain technology and COLOPL Group's extensive expertise from years of experience in the gaming business, Brilliant Crypto aims to create new value for the world.