Skip to main content

NFT-Focused Line Next Secures $140 Million Investment in Funding Round Led by Peter Thiel-Sponsored Firm

NFT-Focused Line Next Secures $140 Million Investment in Funding Round Led by Peter Thiel-Sponsored Firm

Line Next, a subsidiary of Line Corporation, said on Dec. 13 that it has secured a $140 million investment in a funding round led by the Peter Thiel-sponsored Crescendo Equity Partners. Line Next has said it will use the capital raised to fund the expansion of its global business and develop new services.

Popularizing the Web3 Ecosystem

Line Next, a non-fungible token (NFT) division of Line Corporation, announced on Dec. 13 that it has secured a $140 million investment from a group led by Crescendo Equity Partners. Line Next said it will use the capital raised to fund the expansion of its global business and develop new services.

According to a statement, these activities fit with Line Next’s plan of popularizing the Web3 ecosystem. To achieve these objectives, the venture firm will start with the launch of the NFT platform DOSI in January 2024. Integrating it with Line’s Japan NFT marketplace means DOSI will also be offered to users around the world as a mobile app.

Youngsu Ko, the CEO of Line Next, remarked on his firm’s feat of achieving one of the largest funding rounds in the Asian blockchain Web3 industry in 2023. He said, “It is significant that we were able to secure this funding in the context of a globally contracting investment environment. We plan to use this opportunity to further popularize Web3 and develop a new service ecosystem where users own the value of their digital goods.”

A Standard for Web3 Apps

Kevin Lee, the managing partner at Crescendo, a private equity sponsored by Peter Thiel, touted Line Next’s competitiveness and vision. Lee said Crescendo hopes that the investment raised will help Line Next build “a standard for Web3 apps that general users can easily use and adopt blockchain to all sorts of services and brands of Web2.”

Meanwhile, in addition to launching DOSI and integrating this with its Japanese NFT marketplace, Line Next said it plans to launch a social app. The NFT-focused firm also plans to launch “new Web3 games utilizing BROWN & FRIENDS characters that anyone can enjoy.”

What are your thoughts on this story? Let us know what you think in the comments section below.



from Bitcoin News https://ift.tt/kLi89tg
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more