LineNext raises $140M to launch NFT marketplace

The web3 branch of the Asian giant Line has just completed a round of financing from 140 million dollars. LineNext plans to launch a NFT market on a global scale.

LineNext announced on Wednesday that it had received a $140 million investment in a deal led by South Korea’s Crescendo Equity Partners.

The fresh capital will enable the Line corporation subsidiary created at the end of 2021 to accelerate the development of its marketplace dedicated to non-fungible tokens. NFT DOSIscheduled for launch early next year.

“Integrating with Japan’s LINE NFT marketplace, DOSI will be offered as a mobile app to users worldwide,” reads the press release, which notes that this is the largest web3 industry round completed in Asia this year.

LineNext also intends to offer solutions to facilitate the integration of web3 technologies into the services of traditional companies and brands. All future products will be based on the Finschia blockchain network.

It’s telling that we were able to secure this funding in the context of a contracting investment environment. We plan to take advantage of this opportunity to further popularize Web3,” enthused Youngsu Ko, head of crypto at the publisher of the popular Line messaging app.

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