Line, the leading messaging app in Japan, plans to launch an NFT marketplace in April 2022.
Details of the Marketplace
According to a report by CoinPost, the marketplace, which will be called Line NFT, will be affiliated with 17 content firms and will sell over 100 types of NFTs. Those who buy NFTs on the marketplace can send them to friends who own a Line app. The NFTs can be bought via credit cards or crypto. Afterward, Line plans to roll out Dosi, which will be a global NFT platform in 180 nations by the end of March 2022.
📢LINE's DOSI introduced at LINE NFT Strategy Conference in Japan
LINE will strive to develop the NFT business not only in Japan but also globally as LINE NEXT was established in December, 2021 both in Korea and the United States to focus on expanding the NFT ecosystem. pic.twitter.com/4IzkXULXCi
— LINE Blockchain (@LINEBC_Global) March 23, 2022
Line and the Crypto Sector
Line first entered the crypto and blockchain sector with the launch of “LINE Blockchain Lab” in 2018. Since then, the company has been working on research and development related to the blockchain. The company offers developers an environment where they can issue NFTs on the LINE Blockchain. The company has also created a digital wallet called LINE BITMAX Wallet, which can be used to store NFTs.
Line even launched an in-house crypto coin called LINK. In February this year, the company announced that it would offer the LINK coin as a payment option for some online merchants. This would be part of a trial that would run from March 16 to December 26, 2022, in Japan only. During the period, LINK users will be able to use their coins to pay merchants online just like they would with LINE Points without commissions.
Future Plans
For now, those who buy NFTs can exchange them with their friends using Line. However, the company has bigger plans for the future. For instance, the company plans to offer opportunities to give NFTs as rewards for purchases. Various companies from the entertainment, sports, anime, and art world will participate in this ecosystem.
About the DOSI Platform
On 16th March 2022, Line announced that it had partnered with 26 companies from different fields. As part of this partnership, Line plans to launch the DOSI global NFT platform.
This platform will be offered in 180 nations. Companies and creators will be able to create brand stores and grow a global community via this platform. Purchasing NFTs will be done using crypto or fiat.
Summary
Line is one of the biggest messaging apps in the world. With a user base of 182 million people, it could have a huge impact on the NFT industry. Its embrace of crypto and blockchain technology could also one day give it an edge over other messaging apps which have been unable to enter the crypto world due to legal hurdles. It could also help to spread the adoption of the NFT sector once it launches its global NFT platform.
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