Morgan Chittum

<div id="highlights-block_623b4bbd4efac" class="highlights">
 <ul>
 <li>The NFT marketplace will partner with video game developer Square Enix and entertainment franchise Yoshimoto Kogyo</li>
 <li>Rakuten, a Japanese e-commerce company, announced its own marketplace for blockchain-based digital collectibles last month</li>
 </ul>
 
</div>



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



The marketplace, which is slated to go live on April 13, will run on the LINE blockchain — the company&#8217;s proprietary network. Users can hold their digital collectibles in the company’s LINE BITMAX wallet.&nbsp;



The platform, called Line NFT, will sell over 100 kinds of NFTs (non-fungible tokens), per a Coinpost <a href="https://coinpost.jp/?p=332888" target="_blank" rel="noreferrer noopener">report</a>. NFTs will be integrated as avatars for Line’s messaging services in the future. 



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



Z Holdings, another subsidiary of SoftBank, will <a href="https://www.thenationalnews.com/business/2022/03/11/softbanks-internet-unit-plans-nft-investments-to-expand-global-reach/" target="_blank" rel="noreferrer noopener">reportedly</a> build a similar marketplace, DOSI, in 180 countries. Line&#8217;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 <a href="https://www.thenationalnews.com/business/2022/03/11/softbanks-internet-unit-plans-nft-investments-to-expand-global-reach/" target="_blank" rel="noreferrer noopener">interview</a>.



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



Rakuten <a href="https://cms.blockworks.co/japans-e-commerce-giant-rakuten-launches-nft-marketplace/" target="_blank" rel="noreferrer noopener">announced</a> 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.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Start your day with top crypto insights from David Canellis and Katherine Ross. <a href="https://blockworks.co/newsletter/empire">Subscribe to the Empire newsletter</a>.

SoftBank Messaging Giant To Launch NFT Marketplace in Japan

Sebastian Sinclair

<div id="highlights-block_62030c6fc3a48" class="highlights">
 <ul>
 <li>LINE Pay will begin trialling payments in LINK to select merchants via its messaging app</li>
 <li>The trial will take place on LINE&#8217;s blockchain network and will run from March through to December</li>
 </ul>
 
</div>



A subsidiary of the Japan-based messaging giant LINE Corporation will begin trialing its native token for use in payments to select merchants via its messaging app.



LINE Pay, the operator of the company&#8217;s digital wallet and fintech services, will be tasked with connecting LINE&#8217;s LINK (LN) token (not to be confused with ChainLink&#8217;s LINK token) with its payment solution, according to a <a href="https://linecorp.com/zh-hans/pr/news/global/2022/99" target="_blank" rel="noreferrer noopener">statement</a> Tuesday.



LINE said it is aiming to expand users&#8217; &#8220;payment options, increase convenience, and grow the real-life usages&#8221; for LINK. It is the first time since 2020 that the messaging giant has made significant efforts to push ahead with its crypto efforts.



Trials will commence March 16 through Dec. 26, enabling customers to use LINK at LINE Pay online merchants in the same way LINE Points are transacted, the company said. The company&#8217;s blockchain network will be used for the trial.



As of Q3 2020, LINE&#8217;s messaging app boasted roughly&nbsp;<a href="https://www.statista.com/statistics/560545/number-of-monthly-active-line-app-users-japan/" target="_blank" rel="noreferrer noopener">84 million monthly active users</a> in its domestic market, around 66% of Japan&#8217;s total population.



The company has been quietly building its payment infrastructure after launching its native token back in 2018. 



Last year, LVC, LINE&#8217;s crypto exchange operator and blockchain business unit, debuted a crypto lending service, allowing users to lend bitcoin and other cryptos to its BITMAX exchange in return for a rental fee.



LN, whose market cap stands at $867.8 million, is changing hands for $144.2 and is up 23.8% over a seven-day period, according to data by provider <a href="https://www.coingecko.com/en/coins/link" target="_blank" rel="noreferrer noopener">CoinGecko</a>.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Start your day with top crypto insights from David Canellis and Katherine Ross. <a href="https://blockworks.co/newsletter/empire">Subscribe to the Empire newsletter</a>.