LINE Will Expand its NFT Business

A newly established organization, LINE NEXT, which operates under Line, a popular messenger app, has successfully raised $140 million to promote the Web3 ecosystem.

The investment round was led by Crescendo Equity Partners, a company associated with tech billionaire Peter Thiel. Thiel will also join the Finschia Foundation’s board as a member.

In line with their goal of promoting the integration of non-fungible tokens (NFTs) in the mainstream market, LINE NEXT plans to launch a global NFT platform called DOSI in January 2024.

This platform will be accessible through the popular Japanese NFT marketplace, LINE NFT, and will be available as a mobile app for users worldwide.

The team at LINE NEXT aims to assist brands in the transfer of ownership of their digital products, making them tradable in the market. These services will be built on the Finschia public blockchain, ensuring transparency and security for all involved parties.