Trys

What Trys does

Trys Inc. (株式会社Tryス) is a Tokyo-headquartered digital entertainment company that develops and operates smartphone games, blockchain/Web3 games, and vertical-scroll digital comics (webtoons), while supplying illustration and manga production services to enterprise clients. Its flagship is the Overlord-licensed smartphone RPG 'MASS FOR THE DEAD,' launched February 2019 and distributed on iOS, Android, DMM GAMES, Crunchyroll Games (100+ countries), and Wayi (Traditional Chinese), with cumulative downloads exceeding 5.5 million in Japan as of August 2021. In Web3, Trys released 'BouncyBunny' on PlayMining in January 2024 (service ended August 2024) and 'Vroom Voom Run' on Immutable Chain in September 2025. Its webtoon portfolio, produced in-house and through subsidiary CROSTA, is distributed on LINE Manga, Piccoma, Rakuten R-TOON, and Jump TOON, with multiple titles nominated for the Tateyomi Manga Award in 2024 and 2025.

Trys's core technology base is modest but differentiated in one area: Japanese Patent No. 6560421 (granted July 2019, originally held by TriFort) covers a real-time AI motion-capture system using only a smartphone camera and deep-learning-based motion analysis, used in VTuber-style live streaming. The company does not publicly disclose a broader technology stack or proprietary AI/ML models beyond this patent, and its technology moat is therefore narrow but defensible for virtual live-streaming applications.

Trys generates revenue through four streams: free-to-play gacha in-app purchases on mobile games (the primary stream, with packs ranging from 400 JPY to 10,000 JPY); NFT sales and Play-to-Earn mechanics on Web3 games; B2B creative services (illustration, coloring, scenario, webtoon production) sold to game companies, publishers, and IP holders; and revenue-share arrangements on LINE Manga, Piccoma, R-TOON, and Jump TOON for distributed digital comics. Since September 2021, Trys has operated as a wholly-owned subsidiary of Sun Asterisk Inc. (TSE Prime: 4053), with access to a 1,500+ engineer and creator network across four countries and six cities. The company is currently headquartered in Otemachi, Chiyoda-ku, Tokyo, with a secondary office in Fukuoka, and is undergoing a corporate restructuring announced in November 2025.

Name

Trys

Legal name

株式会社Trys

Website

https://trys2020.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

Trys is a Tokyo-based digital entertainment company that develops and operates smartphone games (including the Overlord-licensed RPG 'MASS FOR THE DEAD'), Web3 games, and webtoons, while providing B2B illustration and manga production services as a wholly-owned subsidiary of Sun Asterisk (TSE Prime: 4053).

Ownership category

akta.pro rank

Product category

Mobile Game and Digital Content Production

NAICS

Graphic Design Services (541430)

akta.pro primary industry

Mobile & F2P Game Studios (MPAFAAAB)

akta.pro secondary industries

Web3/Blockchain Game Studios (MPAFAAAO), Blockchain Game Studios & Game Development (FSAPAGAC)

Keywords

• Smartphone game development
• Webtoon production services
• Blockchain game publishing
• Anime IP mobile games
• Creative production services

Headquarters

HQ city

Otemachi

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Game Operations (In-App Purchase / Gacha): Trys operates smartphone games (MASS FOR THE DEAD) on a free-to-play model with in-app purchases. Revenue is generated through gacha (character summoning) mechanics using premium in-game currency (混沌石/Chaos Stone). Step-up summoning banners and limited-time character availability drive spending. This represents the primary revenue stream.
2. Blockchain Game (NFT Sales and Play-to-Earn): Blockchain games BouncyBunny and Vroom Voom Run generate revenue through NFT character sales and in-game item purchases on PlayMining (DEAPcoin) and Immutable platforms. Free-to-play access is available, with NFT purchases offering gameplay advantages.
3. Creative Services (Illustration and Manga Production): Trys provides paid illustration and manga production services to corporate clients including game companies and publishers. Services include character design, coloring, scenario writing, and webtoon production, billed per project or contract.
4. Digital Comic Distribution: Trys produces original vertical-scroll digital comics (webtoons) distributed on platforms such as LINE Manga, Piccoma, and R-TOON. Revenue sharing or per-episode sales on these platforms contribute to revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels9 records

Marketing channels6 records

Core offering

Trys develops and operates smartphone RPG games, including the Overlord IP-based title MASS FOR THE DEAD, and Web3 multiplayer blockchain games such as Vroom Voom Run (Immutable) and BouncyBunny (PlayMining). The company also produces original vertical-scroll digital comics (webtoons) distributed on LINE Manga, Piccoma and R-TOON, and provides B2B creative production services covering illustration, character design, coloring, scenario writing and manga production for game companies, publishers and IP holders.

Product overview

Trys operates as a content platform company offering entertainment products across three main categories: smartphone games (including MASS FOR THE DEAD RPG and Web3 games BouncyBunny and Vroom Voom Run), vertical-reading digital comics/webtoons distributed through major platforms, and creative production services for illustration and manga. The company combines game development expertise with digital content creation capabilities, operating primarily in the Japanese market while expanding internationally through partnerships with platforms like PlayMining (blockchain games) and Immutable Chain (Web3 infrastructure).

Differentiator

Problem solved

Functional benefit

Brands

• MASS FOR THE DEAD: Overlord IP-based smartphone game operated by Trys/Exys, launched February 21, 2019.
• クリエイティブ事業 (Creative Production)
• BouncyBunny
• Vroom Voom Run

Products and services

• MASS FOR THE DEAD Overlord anime IP-based smartphone RPG with gacha mechanics, multiplayer features, and frequent anime franchise collaboration events (Re:Zero, Date A Live, Shield Hero, Slayers, etc.). Distributed globally via iOS App Store, Google Play, DMM GAMES, Crunchyroll Games (English) and Wayi (Traditional Chinese). Achieved 5.5M+ downloads in Japan by August 2021.
• Vroom Voom Run Web3 multiplayer action game for iOS/Android released September 2025, supporting up to 6 simultaneous players in stage-based battles with approximately 2-minute matches. Built on Immutable Chain blockchain technology with NFT functionality.
• Creative Production Services B2B professional illustration, manga, and webtoon production services for game companies, publishers, and IP holders, including character design, coloring, scenario/plot writing, and pen work. Sold directly to enterprise clients via inquiry form on a per-project contract basis.
• Vertical-scroll Digital Comics (Webtoons) Original and co-produced vertical-scroll digital manga (webtoons) including 'フジミノシノビ' (Piccoma exclusive), '死重奏-カルテット-' (LINE Manga), and works distributed on R-TOON and Jump TOON. Three Trys-produced titles were nominated for the Tate-yomi Manga Award 2025.

Quantifiable outcome

• MASS FOR THE DEAD surpassed 5.5 million downloads in Japan (as of August 2021), with English version surpassing 4 million pre-registration milestone.
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature1 record

Partnerships

Eight partnerships are on record, tiered core and minor.

• ImmutablecoreTechnology or Integration · 11 September 2025Immutable is a leading Web3 gaming platform providing development environment for blockchain games. Trys released 'Vroom Voom Run' on Immutable Chain, leveraging their zkEVM-compatible blockchain technology for secure, low-cost transactions.
• TOON CRACKERminorStrategic or Co-development Partner · 9 May 2024TOON CRACKER co-produced the manga '死重奏－カルテット－' with Trys for distribution on LINE Manga.
• Digital Entertainment Asset Pte. Ltd. (DEA)coreTechnology or Integration · 1 October 2023DEA operates the PlayMining GameFi platform. Trys released its first blockchain game 'BouncyBunny' on PlayMining in January 2024. The platform has approximately 2.7 million members and supports DEAPcoin (DEP) cryptocurrency for Play-to-Earn mechanics.
• Sun Asterisk (株式会社Sun Asterisk)coreOthers · 15 September 2021Sun Asterisk acquired 100% of Trys shares, making Trys a wholly-owned subsidiary of Sun Asterisk (listed on Tokyo Stock Exchange Prime Market, ticker 4053). Trys joined the Sun* group to accelerate entertainment services, leveraging Sun Asterisk's 1,500+ engineers and creators across 4 countries and 6 cities. The group aims to expand into blockchain and NFT entertainment.
• Wayi International Digital EntertainmentminorChannel Partner/ Reseller/ DistributorWayi published MASS FOR THE DEAD Traditional Chinese version in Taiwan, Hong Kong, and Macau from Autumn 2021.
• Crunchyroll Games, LLCminorChannel Partner/ Reseller/ DistributorCrunchyroll Games handled publishing, promotion, and localization for the English version of MASS FOR THE DEAD across North America, Europe, and 100+ countries and regions.
• SC Digital Media Co., Ltd.minorGTM or Marketing PartnerSCDM provided coordination and support for the English version publishing of MASS FOR THE DEAD alongside Crunchyroll Games.
• 株式会社Sun Asterisk Group Companies (Sun Asterisk Vietnam Co., Ltd., Sun Asterisk Software Development Inc., and others)minorOthersPer Trys' Privacy Policy, personal data is jointly used across Sun Asterisk group companies including Sun Asterisk Vietnam Co., Ltd. (Vietnam), Sun Asterisk Software Development Inc. (Philippines), and other group entities for recruitment and risk management purposes.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Emerging players

• Sky Mavis (Axie Infinity): Developer of Axie Infinity and operator of the Ronin blockchain, one of the leading GameFi ecosystems. Comparable to Trys' Vroom Voom Run and prior BouncyBunny as a developer-published blockchain game with play-to-earn mechanics.

Direct peers

• Colopl Inc. Tokyo-headquartered mobile game developer (White Cat Project / Shachihata) with a comparable focus on F2P mobile RPGs and overseas expansion via Crunchyroll-style partnerships. Overlaps with Trys on anime-licensed and original-IP mobile game operations.
• mixi, Inc. Operator of Monster Strike, one of Japan's largest mobile game franchises, with growing manga and webtoon ambitions via mixi comic. Closely matches Trys' mobile-game-plus-content vertical integration play in the Japanese market.
• KLab Inc. Japanese mobile game studio best known for anime-licensed rhythm games (Love Live!, Bleach). Direct comparable to Trys in combining anime-IP mobile games with international publishing partnerships and a similar Japan-listed mid-cap profile.

Others

• Kakao Piccoma: Japan's leading webtoon platform operated by Kakao. Directly comparable to Trys' webtoon distribution footprint since Trys distributes original titles (e.g., Fujimi no Shinobi) exclusively on Piccoma; relevant as both customer and benchmark for platform economics.
• Digital Entertainment Asset (DEA) / PlayMining: Operator of the PlayMining GameFi platform on which Trys launched BouncyBunny. Comparable as the platform-counterparty in Trys' Web3 strategy and a benchmark for NFT-driven play-to-earn game economics.
• KADOKAWA Corporation: Owner of the Overlord IP that Trys licenses for MASS FOR THE DEAD and one of Japan's largest anime/manga/light novel publishers. Tangential partner-and-overlap: a counterparty in Trys' core business and a benchmark for the manga IP machine that Trys' original webtoon unit aspires to feed.

Broad incumbents

• Animoca Brands: Global Web3 gaming leader and investment platform with a portfolio of blockchain games and NFT IP. Comparable to Trys in pursuing mainstream Web3 game publishing, but at vastly greater scale and with a publisher/investor role rather than developer.
• Crunchyroll Games (Sony): Publisher of Trys' English version of MASS FOR THE DEAD in 100+ countries. Comparable as an anime-licensed mobile game publisher with a global distribution footprint that Trys leverages to internationalize its titles.
• SQUARE ENIX (Smartphone/Online division): Major Japanese game and manga publisher with a substantial smartphone game lineup and original manga IPs. Comparable as a much larger incumbent operating across the same games-plus-manga content flywheel that Trys is building at smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights6 records

Customer concentration

• Xx.com/sai_Trys
• YouTubeyoutube.com/channel/UCv5yMCWzjt5w_1czERqYkvQ
• LinkedInlinkedin.com/company/trys-inc
• Facebookfacebook.com/Trys2020

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trys