The Line messenger raised $140 million for development in the NFT sector

The Line messenger raised $140 million for development in the NFT sector

user avatar

by Max Nevskyi

3 years ago

The division of the Line messenger focused on non-fungible tokens, named LINE NEXT, successfully raised $140 million in investments for the development and promotion of the Web3 ecosystem. The investment round was led by Crescendo Equity Partners, associated with Peter Thiel, which will now become a board member of the Finschia Foundation.

The organization's plans include launching the global NFT platform DOSI in January 2024. This platform will be integrated with the Japanese NFT marketplace LINE NFT and will become a mobile application available to users worldwide.

The LINE NEXT team intends to assist brands in managing ownership rights of digital products and trading them. All services will be based on the public blockchain Finschia. Additionally, the company plans to create Web3 games featuring well-known characters such as BROWN & FRIENDS.

Kevin Lee, Managing Partner at Crescendo, expressed hope for establishing a standard for Web3 applications and expanding the use of blockchain in various services and brands.

It's worth noting that Line launched its NFT marketplace in April 2022 and announced the closure of its associated bitcoin exchange, Bitfront, by March 31, 2023.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

ACI Worldwide and Circle Launch USDC Settlement Pilot in Colombia

ACI Worldwide and Circle announced a collaboration to demonstrate USDC settlement integration into existing bank payment systems.

user avatarSatoshi Nakamura

Binance Wallets Drained in Major Security Breach

Wallets linked to Binance were drained of at least $55 billion, raising concerns about the security of decentralized exchanges.

user avatarJesper Sørensen

Decentralized Exchanges Facilitate Fund Swaps in Binance Hack

Decentralized exchanges like Uniswap and Aave are being used to swap frozen stablecoins for Ethereum following the Binance wallet draining incident, complicating recovery efforts.

user avatarRajesh Kumar

Bron Joins Hashgraph Association's Global Membership Program

Selfcustody platform Bron has joined the Hashgraph Association's Global Membership Program to enhance its connection with the Hedera ecosystem.

user avatarLucas Weissmann

Bitwise Asset Management Raises Bitcoin Price Projection to $1.6 Million by 2036

Bitwise Asset Management has raised its long-range Bitcoin price projection to $1.6 million by 2036, reflecting significant growth expectations based on anticipated institutional allocations and demand for scarce assets.

user avatarFilippo Romano

Movantis Integrates Stellar for Enhanced Cross-Border Payments

Movantis and the Stellar Development Foundation announced on October 29 that Stellar will become a settlement option in Movantis' multirail payment network, focusing initially on USDC settlements for transfers from the US to El Salvador.

user avatarEmily Carter

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.