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

EDX Markets and Apex Fintech Solutions Form Strategic Partnership

On October 26, 2023, EDX Markets and Apex Fintech Solutions announced a strategic partnership to integrate digital asset trading and clearing technology with Apex's financial infrastructure.

user avatarTenzin Dorje

Increased Rewards for Alpenglow Bugs Announced

Jump Crypto is raising payouts for eligible findings in the Firedancer program, especially for Alpenglow bugs. Effective until Nov 20, eligible findings will receive double the standard reward, with triple rewards for Alpenglow-specific bugs.

user avatarMohamed Farouk

Sean Bowe Calls for End to Automatic Funding for Zcash Community Grants

Zcash cofounder Sean Bowe proposes to halt the automatic allocation of 8 ZEC to the Zcash Community Grants program, citing sufficient treasury funds to cover years of spending.

user avatarBayarjavkhlan Ganbaatar

Solanas Firedancer Introduces Paywall for Bug Reports

The Firedancer team has implemented a requirement for researchers to burn 1 SOL per bug report to reduce AI-generated submissions.

user avatarElias Mukuru

Aviva Investors Expands Tokenized Fund Offerings with Sterling Liquidity Fund Launch

Aviva Investors has launched a tokenized share class of its Sterling GBP Liquidity Fund on the XRP Ledger, marking its second tokenized fund.

user avatarDiego Alvarez

Glamsterdam Upgrade Delayed Despite Security Improvements

Glamsterdam upgrade faces delays despite vulnerability fix due to additional testing requirements.

user avatarKenji Takahashi

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.