Credit: DIGITIMES
Line Next, Japan-based Line Corporation’s US-based subsidiary dedicated to developing and expanding global NFT (non-fungible token) ecosystem, has signed with 10 partners for a joint strategic investment of US$10 million in total to promote the development of the global NFT market, according to Line.
The 10 partners are SoftBank, Naver, Naver Webtoon, Naver Z, Line Games, CJ ENM, YG Plus, Shinsegae, Hashed and K Auction. Except SoftBank, they are content providers, game and entertainment content distributors, or operators.
Line Next will cooperate with these partners to develop NFT projects based on their IP (intellectual property) content and issue NFTs.
Line has developed Dosi, a global NFT platform, and will launch it by the end of 2022. Dosi is intended to develop a global NFT ecosystem by helping business partners and content creators trade content or artwork via NFT.
To make it easier for users to participate in the global NFT market, Line Next plans to link Naver logins to Dosi Wallet and provide Naver Pay as one of the payment options for buying NFTs.
To expand the Web3 ecosystem, it is essential to base NFTs on users’ needs, Line Next CEO Ko Young-Su said. NFTs to be issued will be mainly based on Asian content in the hope that Asian culture can appeal globally to lead to popular adoption of NFTs, Ko noted.
According to Forbes magazine, NFTs emerged as early as 2014 but have been widely used in the art market only recently, adding that the global NFT market value in 2021 was estimated at US$41 billion.
Author
Administraroot
