SoftBank Messaging Giant To Launch NFT Marketplace in Japan

The marketplace, dubbed Line NFT, is slated to go live on April 13

March 23, 2022 01:08 pm

blockworks exclusive art by axel rangel

The NFT marketplace will partner with video game developer Square Enix and entertainment franchise Yoshimoto Kogyo
Rakuten, a Japanese e-commerce company, announced its own marketplace for blockchain-based digital collectibles last month

Japanese messaging giant Line Corp. announced the launch of its forthcoming NFT marketplace on Wednesday.

The marketplace, which is slated to go live on April 13, will run on the LINE blockchain — the company’s proprietary network. Users can hold their digital collectibles in the company’s LINE BITMAX wallet.

The platform, called Line NFT, will sell over 100 kinds of NFTs (non-fungible tokens), per a Coinpost report. NFTs will be integrated as avatars for Line’s messaging services in the future.

Newsletter

Subscribe to The Breakdown

The marketplace will partner with various Japanese companies including video game developer Square Enix, entertainment franchise Yoshimoto Kogyo and Patlabor.

Z Holdings, another subsidiary of SoftBank, will reportedly build a similar marketplace, DOSI, in 180 countries. Line’s platform, however, is separate from Z Holdings’ NFT plans.

“It’s possible Web3 will herald a world where life is completely different, and we don’t want the company to miss out on the huge growth opportunity,” Kentaro Kawabe, co-chief executive of Z Holdings, said in an interview.

The formation of both subsidiaries of the Japanese conglomerate follow closely on the heels of e-commerce company Rakuten’s NFT plans.

Rakuten announced its marketplace for blockchain-based assets on Feb. 25 and will allow users to buy, sell and trade cryptoassets based on Japanese manga and TV shows.

Get the news in your inbox. Explore Blockworks newsletters:

The Breakdown: Decoding crypto and the markets. Daily.
0xResearch: Alpha in your inbox. Think like an analyst.

Tags

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Digital Asset Summit 2026

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

buy tickets learn more

recent research

Research

Kinetiq Protocol: From LST Infrastructure to HIP-3 Deployer

Kinetiq has established itself as Hyperliquid's dominant liquid staking protocol, holding 82.5% of LST market share with $610M in TVL. The protocol is now expanding beyond its kHYPE staking core into higher take-rate verticals: iHYPE for institutional custody rails, Launch for HIP-3 capital formation, and Markets for builder-deployed perpetuals. We view Markets, launching Jan. 12, as the highest-potential product line given its mechanically scalable, activity-linked unit economics. Near-term revenue remains anchored by kHYPE's KIP-2 fee schedule (~$1.6M annualized), while Markets provides embedded optionality if HIP-3 economics normalize post-Growth Mode. KNTQ's setup is relatively clean: zero insider unlocks until November 2026, 6.2% buyback yield from staking revenue, and cleared airdrop overhang. Risks center on unproven Markets execution, declining kHYPE TVL despite ongoing incentives, and competition from Hyperliquid's native initiatives.

by Shaunda Devens