NFT

NFT still burning! Rakuten launches all-in-one NFT platform, LINE releases limited edition NFTs of Brown and Sally

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NFT still burning! Rakuten launches all-in-one NFT platform, LINE releases limited edition NFTs of Brown and Sally

The NFT wave is sweeping the globe, with Japanese e-commerce platform Rakuten and communications software giant LINE, both previously involved in cryptocurrency and blockchain, announcing their entry into the NFT space.

Rakuten Establishes New NFT Division

Rakuten Group's CEO, Hiroshi Mikitani, announced through a press release the launch of an NFT platform in spring 2022. The platform will cover various fields such as music, animation, sports, and entertainment. Creators will be able to use Rakuten as a one-stop platform for issuing and selling NFTs, and users can also engage in NFT transactions.

Over the past two years, Rakuten has actively promoted the adoption of cryptocurrencies. In 2017, they established the cryptocurrency exchange Rakuten Wallet, and in 2018, they acquired the Japanese cryptocurrency exchange Everybody’s Bitcoin.

Furthermore, in 2019, Rakuten announced the tokenization of Rakuten Coin as part of its loyalty program points. However, Rakuten Coin has not been officially launched yet. Users can convert Rakuten points to cryptocurrencies through Rakuten Wallet.

Rakuten Wallet Exchange

The press release also mentioned that users will be able to purchase NFTs with Rakuten loyalty points, and the platform will issue NFTs as rewards for users meeting specific conditions.

NFT Versions of LINE FRIENDS Introduced

Popular messaging app LINE released a press release stating that the first 600,000 Japanese users who participate in a quiz through LINE de Oubo will receive LINE FRIENDS series NFTs.

There are three types of LINE FRIENDS NFTs: BROWN, SALLY, and CONY. Users who collect all three NFTs will also receive an additional mystery LINE FRIENDS NFT.

In the cryptocurrency field, LINE's involvement is even broader than Rakuten's, including:

Despite this, LINE has not achieved remarkable results in the above businesses. Although they are now riding the NFT trend, it is limited to users in Japan.

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