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NFT Market to be Launched by Japanese Software Giant Line Next Month

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, reports surfaced that Z Holdings was developing a worldwide NFT marketplace that will operate in 180 countries, indicating that the merged 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 through 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 dubbed “Yoshimoto NFT Theater” will also be released at 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.

Line NFTs to be Stored in the LINE BITMAX Wallet Line’s foray into the blockchain arena began in 2018 with the opening of “LINE Blockchain Lab.” Furthermore, a flood of well-known Japanese brands and corporations, including Japanese entertainment conglomerates Square Enix and Konami Holdings Corporation, have entered the NFT industry. 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.

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 last week, with $586,510,454 in NFT sales finalised, according to seven-day statistics. Users of the LINE app will be able to access the NFT marketplace, but NFTs will be stored in the company’s LINE BITMAX wallet.

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