Japan’s most popular social media application – Line – released a non-fungible token marketplace called Line NFT. Even though the company provides its services in numerous countries in Asia, the opportunity will first be available only 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, allowing 90 million Japanese users to buy and sell approximately 40,000 non-fungible tokens. In addition, Line NFT offers exclusive digital collectibles featuring Yoshimoto Kogyo Holdings’ videos, the classic anime series Patlabor the Mobile Police as well as artwork of other popular characters.
The entity assured it will add more NFTs from different genres later by partnering with Line Family services and other companies.
Once purchased, customers can store their collectibles in their Line BITMAX Wallet. They can also send or exchange NFTs with other users via the application.
LVC vowed to continue offering a “myriad of experiences to users in collaboration with other group companies.”
“Moving forward, with the concept of “Line Blockchain Designed for Everyone,” LVC will aim to provide NFT and other blockchain services and technologies that can be applied practically to users’ daily lives,” the organization stated.
Line stretches to numerous nations in the East Asian region serving over 600 million people. Apart from Japan, it is the most popular messaging application in Taiwan and Thailand. Nonetheless, the NFT marketplace will be available only for Japanese users, at least for now.
Japanese Gaming Giants Bullish on NFTs
It is no secret that “The Land of the Rising Sun” is a high-tech country home to some of the largest video game and entertainment companies.
Earlier this week, top executives at Sega Corporation (one of the leading such entities) revealed intentions to release a “Super Game” initiative, which could encompass NFT technology. Masayoshi Kikuchi – Producer at the firm – described the interaction between Sega and digital collectibles as a “natural extension for the future of gaming.”
Shortly after, another Japanese gaming leader – Bandai Namco – set up a fund of around $8 million in one year and $23.8 million in three years to invest in enterprises related to the NFT realm, Web3 economy, and the Metaverse.