Line, Japan’s most popular social networking app, has established LINE NFT, its own non-fungible token (NFT) marketplace.
The LVC Corporation, Line’s crypto and blockchain manager, will offer around 40,000 different NFTs to its 90 million subscribers. That’s, after partnering with Yoshimoto Kogyo, a large Japanese entertainment giant.
The initial wave of NFTs to be released will contain videos from Yoshimoto NFT Theatre, as well as renderings of characters from the popular anime series Patlabor the Mobile Police, with more to come in the coming months.
Users will save their NFTs in the LINE BitMa wallet, which is partnering with BitMax, a cryptocurrency exchange.
After letting users to pay for things with its native LINK token (LN) at any of LINE Pay’s online merchants earlier this year. Also, the app now adds NFT capabilities to its growing list of crypto-ready services.
After creating its own cryptocurrency exchange in 2018, Line has a reputation for being one of the first major IT businesses in Japan. Of course, to utilize cryptocurrencies and blockchain technologies.
Despite the country’s relatively tight crypto legislation, NFTs are growing increasingly popular in Japan. Nomura Holdings, a Japanese financial services behemoth, is the latest big participant to develop an action plan for using NFTs.
Rakuten, a large Japanese e-commerce company, announced the launch of its own NFT trading platform, Rakuten NFT, earlier this year.
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