LINE NEXT, a subsidiary of the company behind the popular messaging app Line, has recently received a funding of $140 million to promote the use of non-fungible tokens (NFTs) and the development of the Web3 ecosystem.
The investment round was led by Crescendo Equity Partners, which is associated with renowned tech entrepreneur Peter Thiel.
As part of the deal, Thiel will join the Finschia Foundation as a board member. The company plans to launch its global NFT platform, DOSI, in January 2024.
Through a partnership with the Japanese NFT marketplace LINE NFT, DOSI will be accessible as a mobile app for users worldwide, according to a press release.
The LINE NEXT team aims to assist brands in transferring ownership of their digital products and facilitate their trading on the platform, which will be built on the Finschia public blockchain. In addition, the team plans to develop Web3 games that feature popular characters such as BROWN & FRIENDS.
