DM2C Studio, a subsidiary of Japanese gaming company DMM.com, has raised $2.3 million through a token convertible bond sale from a consortium of eight companies, including Galaxy Interactive and Square Enix Holdings. The Tokyo-based company plans to use the funds to form strategic partnerships in anticipation of a global expansion. Led by CEO Nagato Kasaki, DM2C Studio is focused on developing DMM's web3 business, including blockchain games and NFT projects, with several games set for release in 2024.