The largest social media app in Japan has officially launched its own nonfungible token marketplace called Line NFT. The company has partnered with a major Japanese entertainment company named Yoshimoto Kogyo, the company will offer close to forty thousand NFTs to its whole user base of 90 million people.
The first wave of NFTs that are soon-to-be-released will feature videos from the Yoshimoto NFT Theatre as well as the depiction of the characters from popular anime series such as Patlabor the Mobile Police and more to come in the upcoming months. The users of this new NFT platform will be able to store their purchased NFTs in the wallet provided by the crypto-exchange platform BitMax. The name of the wallet will be LINE BitMa.
At the beginning of this year, the app introduced a new payment option for Line users who can pay for different products using the native LINK token (LN). Right now, the app has added NFT to the growing list of crypto-ready attributes.
The line launched its own crypto exchange in 2018 and was the first among the major technology companies to adopt blockchain technology and cryptocurrency. Despite Japan’s strict regulatory policy on cryptocurrency and blockchain technology, NFTs are becoming increasingly popular within the country.