Line, Japan’s most used social media app, has launched a non-fungible token market called Line NFT. Although the company offers its services in many countries across Asia, this opportunity will be exclusive to Japanese users.
Japan’s top social media goes into NFTs
LVC Corporation (LVC), the operator of Line’s Blockchain divisions, launched Line NFT marketplace. This allows 90 million Japanese users to purchase and sell around 40,000 non-fungible tokens. Line NFT also offers digital collectibles that include Yoshimoto Kogyo Holdings videos, Patlabor the Mobile Police, and artwork by other characters.
The entity promised that it would add more NFTs of different genres by partnering with Line Family Services and other companies.
Customers can store collectibles once purchased in their Line BITMAX Wallet. Customers can also exchange or send NFTs to other users through the application.
LVC pledged to offer a “myriad experience to users in collaboration avec other group companies.”
The organization stated that LVC is moving forward with its concept of “Line Blockchain Designed for Everyone” and will provide NFT and other Blockchain services and technologies that can be used practically in users’ daily lives.
Line is used by over 600 million people in more than 60 countries of the East Asian region. It is the most used messaging app in Taiwan and Thailand, apart from Japan. However, NFT Marketplace will only be available to Japanese users for the time being.
Japanese Gaming Giants Bullish On NFTs
It’s no secret that “The Land of the Rising Sun”, is home to many of the most prominent entertainment and video game companies in the world.
Sega Corporation, one of the world’s leading gaming companies, revealed earlier this week that it plans to launch a “Super Game” initiative. This could include NFT technology. Masayoshi Kikichi, a producer at the company, described the interaction between Sega Corporation and digital collectibles to be a “natural extension of the future gaming.”
Bandai Namco, another Japanese gaming pioneer, set up a fund that was approximately $8 million in one and $23.8 million over three years. This fund would invest in enterprises in the NFT realm, Web3 economics, and the Metaverse.
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