Interview with LINE Taiwan CTO Hong-Chia Chen: NFT Market DOSI Actively Developing Local Applications, Open to Collaborations in Gaming/DeFi

The 6th edition of LINE Taiwan's developer conference, "LINE TAIWAN TECHPULSE 2022," officially kicked off today (19th), commencing a rich 2-day agenda. The official announcement revealed that Global NFT Market—DOSI, created by LINE's blockchain and NFT subsidiary LINE NEXT, will officially launch in the first quarter of this year. Currently, it has started accepting reservations for registration from enterprises and customers.

Global NFT Trading Market DOSI

Purpose of DOSI? To allow businesses and merchants worldwide to set up shops on this platform to sell their NFTs and utilize applications such as metaverse and gaming within the LINE ecosystem.

Which blockchain will LINE's NFT use? The underlying technology will still be LINE's blockchain, but in the future, it will be bridged with other public chains to achieve interoperability and increase efficiency through new consensus algorithms.

Will NFT payments accept cryptocurrencies? Initially, credit card payments will be accepted, and the wallet will handle the sending, receiving, and management of cryptocurrencies, with details still under discussion. Cryptocurrency exchanges will be conducted through the LINE ecosystem's exchange BITFRONT, following a similar model to Japan, with DOSI being the global version.

Is the DOSI wallet another MetaMask? Does it require KYC? The DOSI wallet will be launched as a custodial wallet because the goal is to make the NFT wallet accessible to everyone for easier creation and usage without the need to remember long seed phrases. Users can enjoy related services within the global DOSI ecosystem and integrate with other public chain ecosystems. Discussions are ongoing regarding KYC requirements.

Will DOSI Trading Market charge platform transaction fees like OpenSea? No, currently all information is free of charge.

Can creators freely join the DOSI trading market? In the short term, the aim is to find IP Partners in Taiwan. LINE provides the platform and templates for these partners to convert their existing businesses into NFTs. This means that the initial creators will be partner companies.

Will LINE have games, DeFi, and offline applications? All these mentioned areas will be included. Under the planning of the global headquarters, there will be a series of collaborative case demos in the future. The limited edition "Black Cat Bug" NFT stickers released at "LINE TAIWAN TECHPULSE 2022" is an example of a Taiwan-inspired application. The LINE Taiwan team is currently gathering user feedback to discuss more localized applications of NFTs.

Finally, Chief Technology Officer Hong-Jia Chen stated that the integration of digital currency and NFTs with the LINE ecosystem will significantly enhance the visibility and exposure of owners' NFTs based on the community and publishing space provided by LINE. Through pilot projects and experiments, domestic users will be able to accelerate their understanding and experience of the emerging NFT market. The "Black Cat Bug" NFT can be traded on OpenSea.