Japan-based Lib Work Co. has announced plans to acquire Bitcoin and expand its NFT initiatives. This reflects a growing interest in digital assets from traditional businesses.
Lib Work's Bitcoin Acquisition Plans
The company announced its intention to acquire Bitcoin worth 500 million yen (approximately $3.3 million) as a hedge against inflation and the risks of relying solely on cash reserves. Purchases will begin in September and continue until December, utilizing cryptocurrency exchanges.
NFT Implementation for 3D Designs
Lib Work has also launched its blockchain initiative to protect 3D house designs through NFTs. On July 25, the company issued its Lib Earth House Model B as an NFT, allowing ownership rights and design details to be stored on-chain.
Company's Future and Housing Market
The firm believes that the integration of 3D printing and digital assets could help reduce costs and construction times while creating new housing markets. Founded in 1997 and renamed in 2018, Lib Work has built a reputation for quality construction and the use of internet technologies.
Thus, Lib Work's new initiatives in Bitcoin and NFTs may significantly impact the construction sector and drive its development in a changing economy.
