Line, Japan’s most popular app, has established its own NFT marketplace, adding to its already extensive range of crypto-friendly features.
Line, Japan’s most popular social networking app, has officially launched its own nonfungible token (NFT) marketplace named LINE NFT.
The LVC Corporation, Line’s crypto and blockchain manager, will offer around 40,000 different NFTs to its 90 million subscribers in collaboration with Yoshimoto Kogyo, a big Japanese entertainment giant.
The first wave of soon-to-be-released NFTs will include recordings from the company’s in-house Yoshimoto NFT Theatre, as well as renderings of characters from the popular anime series Patlabor the Mobile Police, with more to follow in the coming months.
Users will save their purchased NFTs in the LINE BitMa wallet, which is supplied in collaboration with the cryptocurrency exchange BitMax.
After allowing users to pay for things with its native token LINK (LN) at any of LINE Pay’s online merchants earlier this year, the app now adds NFT capabilities to its growing list of crypto-ready services.
Line is known for being one of the first big Japanese IT businesses to incorporate cryptocurrencies and blockchain technology, having launched its own cryptocurrency exchange in 2018.
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 player in the country to adopt an action plan for implementing NFTs.
Rakuten, a large Japanese e-commerce giant, announced the launch of its own NFT trading platform, Rakuten NFT, earlier this year.