By Alicia Maher
Top Japan’s messaging app Line has joined the NFT craze by launching its NFT marketplace known as Line NFT. Based on reports, Line collaborated with Yoshimoto Kogyo, a top Japanese entertainment firm to launch the marketplace, adding to its numerous crypto features.
Line’s newly-launched marketplace will cater to its millions of users with its vast content and over 40k NFTs. The first edition will include videos from its partner in-house entertainment theater Yoshimoto alongside characters from its popular anime series Patlabor and other genres.
More Features to Come
Aside from purchasing NFTs and accessing video content on the marketplace, users will be able to store their collectibles in the BitMax wallet. The wallet was launched due to the collaboration between Line and the BitMax exchange.
The NFT features add to the crypto features already integrated into the platform. Earlier this 2022, Line introduced a feature that will enable users to make purchases with Line, a native coin of the exchange at available LINE Pay’s online merchants. Line disclosed that more features will be added to the marketplace in subsequent months.
Line is one of Japan’s foremost and visionary technology companies driving virtual currency adoption. Since its launch in 2018, Line has taken significant steps that position it as a leading crypto platform in Japan.
The Rise in NFT Popularity
NFTs are riding on the tidal wave of popularity in Japan as the day passes by despite the stiff cryptocurrency laws in the nation. Still, it has not prevented institutional investors from exploring opportunities in NFTs.
As proof, Japan’s Nomura Holdings has indicated an interest in diving into virtual currencies and NFTs as part of its restructuring plans. Last month, the firm stated it would set up a digital company that would observe the opportunities in the nascent groups.
Nomura, which handles retail and investment businesses, has made it an objective to boost clients’ use of virtual currencies and NFTs. Group President Kentaro Okuda said diving into NFTs would improve their client services. However, Nomura isn’t the only business giant interested in digital collectibles.
In February, prominent e-commerce platform Rakuten disclosed the establishment of its NFT section called Rakuten NFTs. The plan to launch a trading marketplace for NFTs has been ongoing since last year amid the NFT boom globally.
Experts believe that Japan’s pop culture and large population will play a massive role in blockchain adoption. Japan is home to anime and manga, which will influence the ownership of collectibles. Last year, exchanges like Coincheck launched a dedicated platform for NFT trading following the record sales volume.