Quick take:
- Line is launching a non-fungible token marketplace.
- The Japanese social media giant said it will also launch a global version of its NFT platform.
- The “LINE NFT” will launch on April 13 with the global version DOSI launching on April 19.
Japanese social media giant Line has become the latest online media brand to jump on the NFT bandwagon. The company is launching a non-fungible token (NFT) marketplace called “LINE NFT” on April 13, with an international version “DOSI NFT” launching six days later.
According to the announcement, Line has collaborated with 17 other companies including Yoshimoto Kogyo Holdings as it aims to debut its platform with at least 100 NFT collections.
The company created the” LINE Blockchain Lab”, a division dedicated to blockchain research in 2018 to develop and launch NFT projects. It has since launched the “LINE BITMAX Wallet”, a digital wallet that can be used to trade NFTs.
All NFTs bought from the “LINE NFT” marketplace can be stored in the LINE BITMAX Wallet”. The platform users can also exchange NFTs with friends registered on the platform.
The platform has plans to use NFTs as rewards and prizes to fans. Users will also be able to use NFTs as their profile pictures, and LINE stamps.
Yoshimoto Kogyo Holdings has announced a limited edition video NFT “Yoshimoto NFT Theatre” that will debut alongside Yoshimoto Stamp NFT, which is a popular LINE stamp when the marketplace launches next month.
Other top NFTs to look out for when the platform goes live next month include a game developed by Japanese Entertainment giant Square Enix, an Anime by Mobile Police Patlabor, as well as, Kohei Uchimura’s J League Trading Soccer, B.LEAGUE, among others.
Line is a subsidiary of Z Holdings, a company owned by SoftBank, and given the Japanese Investment Management giant’s global presence, Line will be looking to mirror that with a global version of its NFT platform.
“DOSI NFT” will debut in 180 countries six days after LINE NFT goes live in Japan. The platform will enable companies to build branded stores and global communities also allowing them to make payments in various digital currencies like bitcoin, as well as, credit cards.
The DOSI NFT platform won’t be eligible for use in China, Hong Kong, the Philippines, and Russia as it is not currently registered in those markets. Japanese users will only be able to access the local version, LINE NFT.
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