LINE Japan to launch LINE NFT platform in spring 2022: Creators can receive royalties
On 12/15, LINE announced that its blockchain company, LVC, will be expanding the features of its current product, "NFT Market β," and will be launching a comprehensive NFT marketplace platform called LINE NFT in the spring of 2022.
Table of Contents
LINE NFT's Predecessor
The messaging app LINE in Japan offers the use of the BITMAX Wallet for cryptocurrency storage and the NFT marketplace NFTマーケットβ. The BITMAX Wallet allows users to store cryptocurrencies and access services from the LINE exchange BITMAX; NFTマーケットβ is LINE's basic NFT marketplace where you can purchase NFTs using the platform token LINK LN. However, the NFTs on this platform are closed and cannot be exported to external blockchains.
BITMAX Wallet:
NFTマーケットβ:
LINE NFT Mechanism
It is claimed that IP owners can tokenize their creations into NFTs on the LINE blockchain, which can be purchased with cryptocurrencies or Japanese yen. The LINE NFT marketplace allows for secondary trading and enables LINE users to exchange NFTs. When reselling, royalties can also be returned to the original creators.
