Line Next, the NFT subsidiary of Line, the Japanese messaging giant, successfully concluded a substantial $140 million funding round. Spearheaded by Crescendo Equity Partners, this investment stands out as the most substantial support for an Asian blockchain company this year.
The substantial investment is earmarked for amplifying Line Next's global NFT business and launching new services, with the highlight being the forthcoming launch of the Dosi global NFT marketplace in January 2024. Integrated with Line's existing NFT platform in Japan, Dosi aims to revolutionise global digital asset trading through a mobile app interface.
Line Friends’ collaboration with Beanz by Chiru Labs, which is also the company behind popular NFT collection Azuki, in April this year.
Line Next, headquartered in South Korea with offices in the US and Japan, is also developing an AI-avatar-powered social app. Leveraging Line's renowned Brown and Friends characters from the Line Friends IP, the company is set to introduce blockchain games, expanding its foothold in the NFT space. The company operates the Game Dosi platform, hosting various NFT games.
In a significant move, Line Next plans to build its new services on the blockchain network Finschia, formerly known as Line Blockchain. The native cryptocurrency of Finschia, LINK, will play a pivotal role in Line's expansive plans. Additionally, Line Next and Peter Thiel are set to join the Finesse Foundation, fostering the growth of Crescendo-backed blockchains.
Commenting on the investment, Kevin Lee, managing partner of Crescendo, highlighted Line's global competitiveness and its vision to spearhead Web3 services. He emphasised the aim to establish user-friendly Web3 applications, driving widespread blockchain adoption across Web2 services and brands.
Kevin Lee, managing partner of Crescendo (Image Source: Bloomberg)
With a view to expand in the Web3 space, Line launched its proprietary NFT marketplace, LINE NFT, and sealed partnerships with major entities like Yoshimoto Kogyo, Square Enix, and the manga series Patlabor.
Square Enix’s Million Arthur NFT on NFT marketplace (Image Source: NFT marketplace)
The broader Web3 ecosystem in Japan is witnessing rapid evolution, with LINE's initiatives leading the charge. Animoca Brands, a prominent Japanese digital property and open metaverse company, also announced significant funding for its NFT project, Mocaverse, aiming to establish a loyalty system within Web3 games and entertainment.
Japanese industry leaders, aligned with Line Next's recent investment, showcase the burgeoning potential of NFTs in reshaping the dynamic Web3 landscape. The synergistic partnerships and investment drives collectively amplify the transformative power of NFTs in Japan's tech-savvy markets.
The infusion of substantial capital into Line Next marks a decisive move towards accelerating NFT adoption in Japan. This investment, along with parallel efforts by industry leaders, signifies a profound transformation in how we engage with digital assets. As Japan fuels the momentum in the NFT space, these strategic steps reinforce the inevitability of NFTs in shaping the future of Web3 ecosystems, both within the country and beyond.
DTCC and Chainlink pilot program enhances fund tokenization with standardized NAV data delivery, prompting broader API solutions and minimal market disruption. Participating U.S. banking firms witness improved data management, while Chainlink's token LINK surges 12.5% in response. The initiative aligns with the trend of real-world asset tokenization in traditional finance.
EdmundAVAX experiences a notable surge of 9% following the announcement of its collaboration with Chainlink and ANZ Group. This partnership aims to enhance the interoperability and settlement efficiency of tokenized assets across Avalanche and Ethereum blockchains. ANZ's utilization of Avalanche's Evergreen Subnet further underscores the exploration of innovative blockchain solutions by traditional financial institutions. Despite AVAX's impressive performance, potential resistance around $60 suggests a period of consolidation may follow, emphasizing a cautious outlook amid its upward momentum.
SanyaWhile Chainlink ($LINK) witnesses accumulation by whales amidst a market uptrend, its performance relative to other cryptocurrencies prompts mixed assessments regarding its future trajectory.
Cheng YuanLINK was up by more than 5% in the 24 hours.
Zoey$4.4M in Chainlink stolen by Pink Drainer in sophisticated cyber heist.
KikyoOn-chain data reveals that the victim lost a total of 275,700 LINK, currently valued at $4.33 million, in two rapid transactions within a minute of approving the transaction.
BrianEminent analyst Bluntz anticipates a significant rally for Chainlink and foresees a breakout for Solana against Bitcoin.
EdmundChainlink whales strategically accumulated tokens before a notable price surge, with whale transactions peaking towards the end of October. Despite a correction in LINK's price, the asset maintained a bullish stance, supported by key technical indicators. However, the ongoing decline suggested potential challenges to the prevailing bull trend.
Huang BoMajor cryptocurrencies experienced a significant surge on Sunday evening, largely attributable to the performance of Bitcoin throughout the week, breaking through the $31,000 mark on Monday. In a single day, Bitcoin's price continued to skyrocket, hitting $35,000.
AaronExplore the groundbreaking merger of Kakao's Klaytn and LINE's Finschia into a unified blockchain powerhouse, setting new standards in tokenomics, ecosystem expansion, and blockchain innovation.
BrianLINE NEXT's acquisition of $140 million in funding led by Crescendo Equity Partners marks a pivotal moment in its Web3 venture. With initiatives like the DOSI NFT marketplace, an AI-character social app, and Web3 games, LINE NEXT is set to significantly influence the digital experience landscape in the Web3 era. This funding highlights the sustained interest in Web3 technologies amidst changing investment patterns.
Cheng YuanLine Next raises $140M to expand NFT and Web3 services, including the launch of Dosi and development of blockchain games.
Huang BoThrough the partnership, Chiru Labs and IPX plan collaborations through their respective properties, with potential content, merchandise, and events in the works.
decryptJapan’s Line is shutting down its U.S. exchange Bitfront in the new year in an effort to focus on its other blockchain ventures.The messaging company said in a notice to customers that new signups have been suspended as of today, and services will be slowly turned off over the next four months.
decryptData shows the recent large negative Bitcoin mining difficulty adjustment has provided a significant boost to the miners' revenues. Bitcoin ...
BitcoinistOn December 15th, according to official news, LVC Corporation, the encrypted assets and blockchain business unit of the Japanese communication giant LINE, announced that the NFT comprehensive market "LINE NFT" based on the current "NFT Market β" with a series of new functions will be launched next year. Available in spring.
CointelegraphLINE Pay said it is considering adding other cryptocurrencies such as Bitcoin and Ethereum to its payment options in the future.
CointelegraphLine, Japan’s number one super app, has launched its own NFT marketplace, adding new features to its list of encrypted features.
CointelegraphLine, Japan’s number one super app, has launched its own NFT marketplace, adding to its list of crypto-ready features.
Cointelegraph