Line, one of the leading instant messaging companies of Japanese origin, was acquired in 2021 by SoftBank and has now launched an NFT marketplace focused on Web3 and aiming to offer different digital collectibles from brands and companies from different industries.
Lineone of the largest instant messaging companies of Japanese origin, was acquired about a year ago by Softbank, one of the most important Japanese telecommunications and Internet companies. SoftbankSoftbank, one of Japan’s largest telecommunications and Internet companies. It has now created an NFT marketplace focused exclusively on Web3 and aiming to offer collectible digital assets from different brands and services.
The market for non-fungible tokens was named DOSI and was launched in more than 180 countries. In addition, it is available for a wide variety of languages such as English, Korean, Japanese, Chinese, Spanish, Thai, among others.
With this market, one of the largest instant messaging companies is committed to strengthening the growth and expansion of its brand around the world.
Line Corp merged with Yahoo Japan after being acquired by SoftBank in 2021. It is now part of Z Holdings CorpSoftBank Group’s holding company.
DOSI, Line’s NFT marketplace
This new non-fungible token marketplace is intended to bring an NFT experience to users related to blockchain and Web3 technology. Through DOSIthe leading Japanese instant messaging company promises to provide access to NFT collections from different brands, companies, artists and even social media influencers. Currently, they presented collaborations with Citizen y Hellboundamong others.
This NFT secondary market was developed to bring a consumer-to-consumer (C2C) project, which will allow users and businesses to directly trade non-fungible digital assets globally, but excluding Japan, said TechCrunch.
However, Line is not the first Japanese company to launch an NFT marketplace, as, the company. Rakuten Groupwas one of the first to create a non-fungible token market in Japan.
Similarly, with the launch of DOSI, which took place through Line Next, a unit of Line Corp, we started to notice how Japanese industries are increasingly interested in the crypto ecosystem and especially in NFTs.
Line and its different services
The announcement was made by Line Global official Twitter and consequently, the messaging platform adds this NFT market to continue offering more and more varieties of services for its users worldwide.
Currently, the company has a medical appointment app called Line Doctor, a digital payment system as Line Pay, a music streaming service called Line Music, and now it is adding a product associated with blockchain technology that is focused on exploring, innovating, expanding and adopting the uses and applications of blockchain.
Line’s mission is to prepare itself directly to compete with the giants of the crypto-industry, as for example, this year Meta already enabled the service for NFTs on its social networks Instagram and Facebook. Like Mark Zuckerberg, Line wants to become one of the largest platforms for NFTs marketplaces on the Web3.
NFTs in DOSI beta version
The NFT DOSI marketplace already launched its beta version in September this year and since then, around 170,000 non-fungible tokens have been minted and transacted. Also, approximately 100,000 wallets have been generated so far.
Although the NFT market is in a bearish moment and this affected the demand for NFTs, analytics platforms such as DappRadar continue to confirm that the non-fungible digital assets have not lost significant demand. However, it should be known that the volume of trading in NFTs declined significantly this year. Currently, around 1.11 million traders are trading NFTs at this point in the market.
Japan and the Web3
Japan’s prime minister, Fumio KishidaIn a speech he made in the middle of last month, Prime Minister Kishida said he is in favor of new technologies and added that the country will continue to assist and promote the efforts of companies to expand and adopt the use of Web3 services for all Japanese and non-Japanese citizens.
Finally, he said that using technologies to create NFTs, metaverse markets is an action he is willing to accept, as it generates jobs and puts the country as one of the largest sites with adoption in new technologies. Recently, the Government of Japan has launched a DAO to understand, teach and adopt the operation of Web3 to users who are interested and to reach out to those who are just starting to learn about these technologies.
All investment or financial opinions on behalf of NFTexpress should not be taken as recommendations. This article is informational/educational material. Before making any type of investment do your own research.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.