Line Next, the NFT-focused subsidiary of the Japanese messaging firm Line, has recently raised an impressive $140 million in a funding round, led by the renowned private equity firm Crescendo Equity Partners. This significant investment marks a major achievement for the Asian blockchain industry this year, according to Line’s official statement.
The primary use of this new capital will be to further Line Next’s ambitions in the global NFT sector. The company is set to launch Dosi, its global NFT marketplace, in January 2024. Dosi is designed to be an extension of Line’s existing NFT platform in Japan, offering a user-friendly mobile application for the global trading of digital assets.
Expansion and Innovation: From Social Apps to Blockchain Games
Line Next is not just confined to its marketplace but is also exploring new areas. The company has bases in South Korea, the United States, and Japan, and it is currently developing a social application that merges AI avatars. Moreover, Line is making its way into the gaming industry by planning to launch blockchain games. These games will include the beloved characters from Line’s Brown & Friends series, which is part of the Line Friends intellectual property.
The gaming division of the company, called Game Dosi, is currently running a number of NFT-based games. In order to further enhance its intellectual property (IP), Line Friends, who owns the IP, has teamed up with the well-known Ethereum NFT platform, Azuki. The purpose of this partnership is to create a variety of products, such as merchandise, content, and events.
Technological Foundation: The Role of Finschia Blockchain
The Finschia blockchain network, formerly known as Line Blockchain and initially called the Link Chain, is supporting some ambitious projects. The network’s native cryptocurrency is called LINK. Line Next plans to collaborate with Crescendo Equity Partners to actively engage with the Finschia Foundation. Their joint efforts will focus on enhancing and expanding the blockchain’s ecosystem, paving the way for Line’s strategic growth in the digital asset and gaming sectors.
Line Next’s new direction highlights the company’s dedication to spearheading the adoption and advancement of Web3. With its strong foothold in messaging and digital communication, Line is well-positioned to make a significant impact in the ever-evolving field of NFTs and blockchain gaming.