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

BingX EU Achieves MiCA License to Expand Crypto Services in Europe

BingX EU MEGE zweite GmbH has obtained a MiCA license from Austria's FMA, allowing it to offer regulated crypto services across 29 EEA countries.

user avatarMohamed Farouk

Zcash Faces 11% Decline Amid Growing Market Concerns

Zcash has experienced an 11% decline in the past 24 hours, raising concerns about market stability and the impact of AI on cryptography.

user avatarElias Mukuru

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

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.