Messaging App LINE Will Expand its NFT Venture Following Funding Round
LINE-NEXT, the NFT division of LINE, a messaging giant based in South Korea, has secured $140 million in funding to promote the growth of the Web3 ecosystem.
The company announced today that this investment is the largest in the Asian blockchain and Web3 industries this year. It is led by Crescendo Equity Partners, a private equity firm backed by Peter Thiel.
With this new capital, LINE plans to officially launch its global NFT platform, DOSI, in January 2024. The platform will be integrated with Japan’s NFT marketplace LINE NFT and offered as a mobile app to users worldwide.
Additionally, LINE NEXT will collaborate with brands to create NFTs for existing digital products, allowing for ownership and trading. The company will also introduce web3 games featuring its popular characters, BROWN & FRIENDS.
