LINE NEXT Raises $140M to Boost its Web3 Ecosystem
LINE NEXT Company, a enterprise specializing in the NFT ecosystem, has acquired an funding of USD 140 million led by Crescendo Fairness Companions. This funding marks the biggest within the Asian Web3 trade for the present 12 months, positioning LINE NEXT for progress within the world Web3 ecosystem.
New Providers and International Growth for LINE NEXT
In January 2024, LINE NEXT plans to unveil DOSI, its new world NFT platform. This digital market will permit for the buying and selling of various digital merchandise and will probably be built-in with Japan’s LINE NFT market. The DOSI platform will probably be accessible worldwide by way of a cellular app.
Moreover, LINE NEXT is growing options to make it simpler for companies and types to include Web3 by enabling direct possession and buying and selling of digital merchandise.
Strengthening Web3 Presence
To additional its efforts to popularize Web3, LINE NEXT plans to launch new companies, together with an AI-powered social app and Web3 video games that includes BROWN & FRIENDS characters. These initiatives are anticipated to be constructed on the general public blockchain Finschia, with LINE NEXT and Crescendo collaborating within the Finschia Foundation as governance members to contribute to its ecosystem enlargement.
Backed by Peter Thiel, co-founder of Palantir Applied sciences, Crescendo brings sector experience and a tech-ecosystem strong community. The agency identifies and nurtures potential world leaders amongst small to mid-cap expertise corporations.
Development and Prospects for the Future
Kevin Lee, Crescendo’s managing companion, highlighted LINE’s world competitiveness and imaginative and prescient for Web3 management as key elements within the funding: “LINE’s world competitiveness and its imaginative and prescient to guide Web3 companies had been the funding thesis…We hope to construct a typical for Web3 apps that basic customers can simply use and undertake blockchain to all types of companies and types of Web2.”
Youngsu Ko, CEO of LINE NEXT, acknowledged the significance of securing this funding amid a contracting world funding local weather, stating, “We plan to make use of this chance to additional popularize Web3 and develop a brand new service ecosystem the place customers personal the worth of their digital items.”
With over 5.5 million customers worldwide and greater than 470,000 cumulative transactions, LINE NEXT continues to expertise fast progress in its first 12 months of beta service. Headquartered in Korea, with a subsidiary within the U.S. and an workplace in Japan, LINE NEXT is dedicated to growing and increasing the Web3 ecosystem globally.
