Kyuzan
Kyuzan is a Tokyo-based Web3 company that builds and operates consumer NFT games (notably EGGRYPTO, a mobile monster-breeding RPG with 2M+ downloads) and licenses MOUNTAIN, an enterprise Web3 development platform (formerly MINT) used by Square Enix, Sega, and other IP holders to launch NFT products on Ethereum, Polygon, Arbitrum, and Oasys.
- Company typePrivate
- Founded2018
- HeadquartersShibuya, Japan
- Headcount1–10
- GTM typeB2B and B2C
- OfferingSoftware
What Kyuzan does
Kyuzan Inc. is a Tokyo-based Web3 software company founded on 2018-04-04 by Takumi Takahashi (CEO) and Ryohei Komiyama (CTO), both University of Tokyo graduates with research backgrounds in privacy-preserving computation and computer vision/AR, respectively. The company operates a dual-product model: a consumer-facing mobile NFT game, EGGRYPTO, co-developed and co-published with GameWith and scaled to 2M+ cumulative downloads and 100,000+ MAU, and an enterprise Web3 development platform called MOUNTAIN (formerly MINT) that bundles no-code smart contract deployment, an SDK/API, an indexer for blockchain data, and an operations dashboard, supported on Ethereum, Polygon, Arbitrum, and Oasys chains. Kyuzan also co-develops flagship NFT collectible art projects on MOUNTAIN Enterprise — most notably SYMBIOGENESIS with Square Enix (launched December 2023) and MUSHInomics with MUSHIKING licensed from Sega (launched November 2025).
The company monetizes through four primary streams: (1) free-to-play EGGRYPTO in-app purchases and secondary-market NFT transaction fees on the in-game RareMon marketplace; (2) MOUNTAIN SaaS subscriptions, priced at ¥70,000 per month with a ¥200,000 setup fee and a 10% transaction fee on NFT sales, with flexible/custom plans for larger operators; (3) MOUNTAIN Enterprise professional services covering co-development, UI/UX, wallet/secret-key management, smart contract creation and audit, and post-launch operations for brands, IP holders, and game companies; and (4) token/card sales in MUSHInomics using the MUSHI memecoin on Oasys.
The company is privately held and venture-backed, having raised a ¥260M Series A in December 2021 led by Z Venture Capital with ANRI co-investing, alongside disclosed strategic shareholders including GameWith. Customers and partners span global entertainment and IP companies (Square Enix, Sega Sammy), infrastructure partners (Polygon, Arbitrum, Oasys, Alchemy, MetaMask, Google for Startups Cloud Program Web3 track), and media/brand partners for NFT storefronts (Rhizomatiks for the Perfume NFT Experiment, Fragment Design / AMBUSH, ABC RECORDS for music NFTs, photographer Shin Yamagishi, the Shibuya Pixel Art Executive Committee). Kyuzan is headquartered at Shibuya Scramble Square WeWork in Shibuya-ku, Tokyo, employs 11–50 people, and is described in source material as operating globally while anchored in Japan.
Kyuzan firmographics
Firmographics- Name
- Kyuzan
- Legal name
- 株式会社Kyuzan
- Website
- https://kyuzan.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Kyuzan is a Tokyo-based Web3 company that builds and operates consumer NFT games (notably EGGRYPTO, a mobile monster-breeding RPG with 2M+ downloads) and licenses MOUNTAIN, an enterprise Web3 development platform (formerly MINT) used by Square Enix, Sega, and other IP holders to launch NFT products on Ethereum, Polygon, Arbitrum, and Oasys.
- Ownership category
- akta.pro rank
Where Kyuzan is headquartered
LocationHeadquarters
- HQ city
- Shibuya
- HQ country
- Japan
- HQ region
- Asia
Offices2 records
Markets served
Kyuzan business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations
Revenue model
- EGGRYPTO In-App Purchases: Free-to-play mobile NFT game monetized through in-app purchases of gems/currency and premium gacha draws. Players can also earn NFT monsters (RareMon) through gameplay and trade them on the marketplace.
- NFT Marketplace Trading Fees: Secondary market trading of NFT monsters (RareMon) generated within EGGRYPTO. The marketplace enables peer-to-peer NFT trading, with Kyuzan likely earning transaction fees on secondary sales.
- MOUNTAIN SaaS Subscriptions: MOUNTAIN platform generates recurring revenue through SaaS subscriptions. Standard plan at ¥70,000/month plus ¥200,000 setup fee, with 10% transaction fee on NFT sales. Flexible/custom plans available for larger operators.
- MOUNTAIN Enterprise Co-development Services: MOUNTAIN Enterprise provides full-stack Web3 development services including co-development, smart contract creation, UI/UX design, and post-launch operational support — a professional services revenue stream targeting enterprise clients.
- Blockchain Game Token/Card Sales: MUSHInomics with MUSHIKING generates revenue through sale of in-game tokens (MUSHI, OAS, pOAS) for minting game cards, alongside free daily gacha draws.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | EGGRYPTO free-to-play with in-app purchases |
| Subscription | Monthly | MOUNTAIN Standard — monthly SaaS subscription for NFT shop development |
| Other | Multi-year contract | MOUNTAIN Flexible — custom pricing for large-scale operators |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels10 records
Kyuzan product offering
Product offeringCore offering
Kyuzan develops and operates Web3 games and an enterprise Web3 development platform. Its consumer products include EGGRYPTO, the world's first mobile-native NFT monster-breeding RPG (2M+ downloads), co-developed NFT projects such as Square Enix's SYMBIOGENESIS, and Sega-licensed MUSHInomics with MUSHIKING. Its enterprise offering is MOUNTAIN, an all-in-one Web3 development platform providing smart contract templates, an indexer/API, an SDK, and an operations dashboard for brands, content holders, and game companies building blockchain applications across Ethereum, Polygon, Arbitrum, and Oasys.
Product overview
Kyuzan operates a multi-product Web3 portfolio comprising game titles and development infrastructure. EGGRYPTO is the flagship mobile-native NFT monster breeding RPG co-developed with GameWith, serving as the company's largest active user base. MOUNTAIN is the enterprise Web3 development platform (formerly Mint) providing tools for blockchain application development including smart contracts, APIs, SDKs, and operational dashboards. SYMBIOGENESIS is a co-development project with Square Enix offering narrative-driven NFT collectible experiences. MUSHInomics with MUSHIKING is a limited-time card battle game on Oasys chain. EGGRYPTO X represents the upcoming next-generation sequel. The company also developed specialty platforms like the pixel art-focused the PIXEL.
Differentiator
Problem solved
Functional benefit
Brands
- EGGRYPTO（エグリプト）: 世界初のモバイルネイティブNFTゲーム。スマホで簡単に使えるNFTゲームでMonster育 成RPG。iOS/Androidで基本無料プレイ可能。
- MOUNTAIN（マウンテン）
- SYMBIOGENESIS（シンビオジェネシス）
- MINT（ミント）
Products and services
- EGGRYPTO (エグリプト) Free-to-play mobile-native NFT monster-breeding RPG for iOS/Android where players hatch, strengthen, and battle unique blockchain-managed monsters, with rare 'Raemon' NFTs tradable on the marketplace.
- MOUNTAIN (マウンテン) Web3 Development Platform All-in-one enterprise Web3 development platform offering smart contract templates, an indexer/API, an SDK, an operations dashboard, and wallet management for building blockchain applications across Ethereum, Polygon, Arbitrum, and Oasys. Sold via Standard SaaS subscription and Flexible custom pricing.
- SYMBIOGENESIS (シンビオジェネシス) Narrative-driven NFT collectible art and game entertainment project co-developed with Square Enix on Ethereum and Polygon, where players solve mysteries and influence story outcomes using NFT characters.
- MUSHInomics with MUSHIKING Browser-based blockchain card battle game built under SEGA license using the Mushiking IP on Oasys chain, featuring ~90 beetle cards, SBT card format, rock-paper-scissors battles, and seasonal ranking events.
- the PIXEL Japan's first pixel art-focused NFT platform built on Mint V2/MOUNTAIN infrastructure, offering LazyMinting for gas-free artist onboarding and a 'Value per Pixel' concept for pixel art NFTs.
- MOUNTAIN Enterprise Co-Development Service Bespoke Web3 co-development service extending MOUNTAIN with custom tools, full-stack UI/UX design, wallet and secret key management, crypto accounting, custom smart contract development and auditing, and marketing support for global brands and IP holders.
Quantifiable outcome
- 2,000,000+ cumulative downloads for EGGRYPTO
- +4 more outcomes
Companies that use Kyuzan
Customer profileNamed customers8 records
Ideal customer profiles2 records
Kyuzan technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature5 records
Kyuzan partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, flagship, notable, strategic and minor.
- Sega Sammy Holdings Inc.coreKyuzan received a license from Sega to develop 'MUSHInomics with MUSHIKING' — a blockchain card battle game using the Mushiking IP. This is Kyuzan's first major third-party IP licensing deal, targeting both traditional Mushiking fans and Web3 users.
- OasyscoreOasys is the blockchain network (L1/L2) powering MUSHInomics. MUSHI memecoin on Oasys provides game utility. Oasys is backed by Sega, Bandai Namco, Square Enix, KDDI, and others. Kyuzan builds on Oasys alongside these major gaming companies.
- ArbitrumcoreArbitrum is the Ethereum L2 solution used for SYMBIOGENESIS Chapter 2 public auctions, compressing gas fees by ~1,000x compared to Ethereum mainnet for bidding transactions.
- Square Enix Co., Ltd.flagshipKyuzan co-develops SYMBIOGENESIS, Square Enix's first globally-oriented NFT collectible art project. Kyuzan provides the entire Web3 backend via MOUNTAIN Enterprise, including smart contracts, indexing, SDK, and dashboard. The project features ~10,000 NFT characters and 2 million characters of narrative content.
- Polygon (Polygon Labs)corePolygon is the L2 scaling solution integrated into MOUNTAIN and used for SYMBIOGENESIS and EGGRYPTO, enabling low-cost, high-speed NFT minting and trading. Kyuzan has supported Polygon since 2021 and was among the first Japanese companies to integrate it.
- ABC RECORDS / 藤原ヒロシnotableWorld's most advanced music NFT marketplace using MOUNTAIN platform, where listeners can acquire ownership and exclusive commercial usage rights for music produced/procured by music producer Hiroko Fujihiro. Kyuzan provided full blockchain backend.
- KLKTN (Kollektion)strategicKLKTN operates Kollektion, a global NFT platform connecting artists with fans. Kyuzan and KLKTN partnered to provide comprehensive NFT solutions to Japanese enterprises, combining Kyuzan's technical capabilities with KLKTN's international marketing reach.
- N.Avenue Co., Ltd. (CoinDesk Japan)minorN.Avenue (operator of coindesk JAPAN and blockchain conference btokyo) partnered with Kyuzan for NFT creator marketing support and enterprise Web3 development. N.Avenue's portal site 'NFT mu!' features Kyuzan's supported creators.
- RhizomatiksnotableRhizomatiks used Mint/MOUNTAIN platform for their NFT-Experiment website selling CryptoArt (including Perfume's first NFT art). Kyuzan provided blockchain backend; Rhizomatiks handled frontend creative. This was an early proof-of-concept for MOUNTAIN's enterprise capabilities.
- ISID (Dentsu Group / Dentsu International Info. Service)strategicISID and Kyuzan entered a partnership for joint research on NFT user experience design, Layer 2 blockchain technology, metaverse/AR/VR applications, and NFT marketplace development. Combines ISID's IP/content system expertise with Kyuzan's Mint/MOUNTAIN platform.
- Fragment DesignnotableFragment Design (VERBAL and YOON's brand) launched their first NFT items (AMBUSH POW REBOOT, 2,022 NFTs) using Kyuzan's Mint platform. Kyuzan built the NFT infrastructure; Fragment provided the brand IP.
- GameWith Inc.coreKyuzan and GameWith co-develop EGGRYPTO — the world's easiest-to-play NFT game. GameWith provides media strategy guides, co-publishing on app stores, and cross-promotion. This is Kyuzan's flagship and most important partnership, generating the majority of its consumer user base.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Kyuzan competitors and assessment
Company assessmentDirect peers
- double jump.tokyo: Japanese Web3/blockchain game studio and platform company (Oasys co-founder, MyCryptoHeroes). Most directly comparable to Kyuzan: similar Tokyo base, similar Web3 game + infrastructure positioning, and active in the same Japanese IP and L1/L2 ecosystem.
- Enjin: Pioneer of NFT gaming infrastructure (Enjin Platform, Efinity, Beam). Directly comparable to Kyuzan's MOUNTAIN as a developer-focused Web3 tooling platform for games and digital assets, with multi-chain support.
- Immutable: Web3 gaming platform (Immutable zkEVM, Immutable X) with developer tooling, marketplace, and game studio partnerships. A direct infrastructure competitor to MOUNTAIN for studios launching blockchain games at scale.
- The Sandbox: Decentralized virtual world / NFT gaming platform with major IP partnerships (Square Enix, Atari, etc.). Comparable to Kyuzan in serving consumer NFT gaming audiences and onboarding major brand IP into Web3.
- Sky Mavis / Ronin Network: Creator of Axie Infinity and the Ronin blockchain, combining a flagship NFT game with proprietary L1 infrastructure — a useful parallel to Kyuzan's combination of EGGRYPTO (consumer game) + MOUNTAIN (developer tooling) on multiple chains.
- Limit Break: Web3 game studio (DigiDaigaku) and creator of ERC-721C/ERC-20C NFT standards. Comparable to Kyuzan as a Web3 game studio building both consumer games and infrastructure-level tooling for NFT games.
Broad incumbents
- Animoca Brands: Global Web3 gaming and NFT conglomerate with a massive portfolio of blockchain games, NFT IP, and investments. Broader and far better capitalized than Kyuzan, but targets the same enterprise IP holders and consumer Web3 gaming segment.
- Yuga Labs: Creator of Bored Ape Yacht Club and Otherside metaverse, the dominant Web3 IP and gaming brand globally. Operates in the same consumer NFT gaming and IP licensing space as Kyuzan but at vastly larger scale.
Others
- Alchemy: Leading Web3 developer platform providing node infrastructure, APIs, and developer tools (Alchemy Supercharged Partner with Kyuzan). Not a direct competitor — Kyuzan is a customer/partner — but the most directly comparable infrastructure provider in scope.
- Polygon Labs: Layer 2 scaling network integrated into MOUNTAIN and used by EGGRYPTO and SYMBIOGENESIS. An enabling infrastructure partner rather than competitor, but adjacent to Kyuzan's Web3 stack and relevant for comparable chain tooling.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Kyuzan social profiles
Digital presenceKyuzan financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kyuzan leadership team
Management profileNumber of profiles
Profiles2 records
Kyuzan funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kyuzan M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kyuzan
What does Kyuzan do?
Kyuzan develops and operates Web3 games and an enterprise Web3 development platform. Its consumer products include EGGRYPTO, the world's first mobile-native NFT monster-breeding RPG (2M+ downloads), co-developed NFT projects such as Square Enix's SYMBIOGENESIS, and Sega-licensed MUSHInomics with MUSHIKING. Its enterprise offering is MOUNTAIN, an all-in-one Web3 development platform providing smart contract templates, an indexer/API, an SDK, and an operations dashboard for brands, content holders, and game companies building blockchain applications across Ethereum, Polygon, Arbitrum, and Oasys.
Is Kyuzan a public or private company?
Kyuzan is a private company. It is classified as venture growth investor backed and is currently operating.
When was Kyuzan founded?
Kyuzan was founded in 2018. It employs 1 to 10 people.
Where is Kyuzan based?
Kyuzan is headquartered in Shibuya, Japan, in the Asia region.
How does Kyuzan make money?
Five revenue lines are on record. EGGRYPTO In-App Purchases are the primary driver. The others are NFT Marketplace Trading Fees, MOUNTAIN SaaS Subscriptions, MOUNTAIN Enterprise Co-development Services and blockchain Game Token/Card Sales.
Who are Kyuzan's main competitors?
Direct peers on record are double jump.tokyo, Enjin, Immutable, The Sandbox, Sky Mavis / Ronin Network and Limit Break. Broad incumbents are Animoca Brands and Yuga Labs. Others are Alchemy and Polygon Labs.
Does Kyuzan have an API?
Yes. MINT SDK provides blockchain and backend solutions for NFT shop development, including wallet connection, NFT auction listings, bidding functionality, and NFT ownership tracking. MOUNTAIN SDK/API enables Web3 application development with components such as MOUNTAIN Smart Contract (smart contract templates), MOUNTAIN Indexer/API (blockchain data retrieval, integration, and event notifications), MOUNTAIN SDK (game application and NFT sales development), and MOUNTAIN Dashboard (contract operations and data analytics). Both are available via API key for enterprise clients. Developer documentation is at mintnft.jp.