Line Next Signs Strategic Investment Contracts Worth $10 Million with 10 Companies to Build a Global NFT Ecosystem

Line Next, which operates Line's NFT platform business, has signed strategic investment contracts worth $10 million with 10 companies including Softbank, Naver Webtoon, Naver Jet, Line Games, CJ ENM, YG Plus, Shinsegae, Hashed, and K-Auction to build a global NFT ecosystem.

Line Next plans to revitalize the NFT platform by introducing NFT that is friendly to the public, and investment companies with IP plan to promote global distribution of contents through NFT production to form a wider consumer base.

The developed NFT can be traded at each brand store of the global NFT platform 'DOSI', which is scheduled to be launched.
In addition, in order to increase access to NFT transactions, Naver's login information is linked to NFT wallet, "DOSI Wallet," and it is planning to provide services so that NFT can be easily logged in and paid through Naver Pay.

Ko Young-soo, CEO of Line Next, said, “In order to expand the Web3 ecosystem, it is important to give users the content that users want and give real value.” .
"We will lead the new fandom culture and popularization of NFT through the formation of this coalition."

Unlike GAFAM, Korea's two major digital companies are quite active in Web 3.0, such as NFT.

This is a good move by Line Next to get more people interested in and using NFTs. It's also good that they have the support of some big names in the industry. This might help NFTs become more mainstream and help Line Next become a major player in the NFT space, of course, only if NFT is around for a while.