Line has been a dominant force in mobile gaming, but with the release of its new Blockchain Lab and plans to create NFTs on the Line Pay platform next month, it is looking like Line will become one of the most influential companies in blockchain. Why? Because they are poised to monetize their vast collection of user data by launching an online marketplace for creators and players alike.
The “line next” is a Japanese software giant that plans to launch their own NFT market next month. The company has been working on the project for over two years, and it will be called Line Open Market (LOM).
This article was first published on News.Bitcoin.
Line Corporation, a Japanese social networking and messaging software business, has announced the launch of a non-fungible token (NFT) marketplace on April 13. The market will be known as “LINE NFT” and will include “more than 100 varieties of NFTs,” according to a statement released by Line on Wednesday.
LINE NFT Marketplace to be Launched by Japan’s Line Corporation
Line Corporation merged with Softbank Group, Yahoo Japan, and Z Holdings in March 2021. Last week, news surfaced that Z Holdings was developing a worldwide NFT marketplace that would operate in 180 countries, indicating that the combined business seeks to include the digital world in all areas. Line revealed 13 days later that it is also creating an NFT marketplace dubbed “LINE NFT.” According to Line’s news release, the market will have more than 100 different varieties of NFTs.
According to the business, LINE NFT will open on April 13 and LINE app users will be able to access the marketplace via the app. Nissy (Takahiro Nishijima), Yoshimoto Kogyo, and Square Enix will all be present for the LINE NFT launch. A Yoshimoto Kogyo Holdings special edition NFT video titled “Yoshimoto NFT Theater” will also be released during the event. While LINE NFT will only be available in Japan, rumours claim that Z Holdings’ “DOSI” NFT marketplace will become global on April 19.
The LINE BITMAX Wallet will be used to store Line NFTs.
Line’s foray into the blockchain sector dates back to 2018, when the corporation founded the “LINE Blockchain Lab.” Furthermore, a flood of well-known Japanese brands and corporations, including Japanese entertainment giants Square Enix and Konami Holdings Corporation, have entered the NFT market. Rakuten, the Japanese online retail behemoth, expects to establish an NFT marketplace this year, and Rakuten’s peer-to-peer NFT service will be available in 2023, according to the company.
Via Line Corporation, a screenshot of LINE NFT.
In recent weeks, interest in non-fungible token (NFT) technology has plummeted, and sales have also slowed. Last week, however, NFT sales perked up and increased by 17% over the previous week. Sales are up 50.71 percent in the previous week, with $586,510,454 in NFT sales finalized, according to seven-day figures. Users of the LINE app will be able to access the NFT marketplace, but NFTs will be held in the company’s LINE BITMAX wallet.
This story’s tags
LINE BITMAX wallet, Line Corporation, nft, NFT sales, NFTs, Nissy (Takahiro Nishijima), Non-fungible Token, Softbank Group, Yahoo Japan, Yoshimoto Kogyo, Yoshimoto NFT Theater., Z Holdings
What are your thoughts on Line Corporation’s decision to create an NFT marketplace in mid-April? In the comments area below, let us know what you think about this topic.
Jamie Redman (Jamie Redman) is a
Jamie Redman (Jamie Redman) is a is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Shutterstock, Pixabay, Wiki Commons, and Line Corporation contributed to this image.
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