Japan’s Top Messaging App LINE Launches NFT Marketplace

Japan’s leading social network, LINE has created a marketplace for non-fungible tokens (NFTs). This new service will allow 90 million LINE users send and exchange NFTs to their friends.

Launch of the ‘LINE NFT Marketplace

LVC Corp., operator of LINE’s blockchain and crypto assets, announced Wednesday that it launched LINE NFT. This non-fungible token market is only available in Japan. LINE describes itself as the “fastest-growing mobile messenger app” and offers free voice and video calls.

“LINE NFT will now offer approximately 40,000 NFT products, Yoshimoto NFT Theatre included,” the announcement states. It also notes that users can store purchased NFTs within their LINE Bitmax wallet.

Yoshimoto NFT Theater contains NFTs of Yoshimoto Kogyo Holdings Co. Ltd. Bitmax, a cryptocurrency exchange, was launched by LINE on September 2019. It can be accessed via the LINE app.

Further details are available in the announcement:

They can easily send and exchange NFTs through the LINE app, which has a userbase of around 90 million people in Japan.

The LINE NFT Marketplace will offer NFTs of popular characters, including Gyuunyuu and Usagyuuun. Additionally, NFTs from “Patlabor” will be available.

LVC Corp. emphasized the idea of “LINE Blockchain Designed for Everyone” and stated that it aims to provide NFT and other Blockchain services and technologies that can be used practically in users’ daily lives.

Rakuten, a Japanese e-commerce company, is also launching an NFT marketplace. In a February 25 announcement, Rakuten NFT stated that it is a platform for NFT buyers and sellers, and also allows peer-to-peer purchasing and selling. A service that allows peer-to-peer selling and issuing of NFT content is expected to launch in 2023.