Asia’s LINE NEXT Raises $140M to Expand NFT Platform

On Dec 14, 2023

Spotlighting dedication to enhancing its presence in the Web3 ecosystem yet again, LINE NEXT — the NFT wing of the Asian messaging giant LINE — has raised a hefty $140 million to officially debut its NFT platform “DOSI”.

Led by the private equity firm Crescendo Equity Partners, this generous funding round surpasses the most significant investment in the Asian Web3 sector this year.

LINE NEXT’s Ambitious NFT-Focused Goals

Utilizing the capital, LINE NEXT is poised to launch the DOSI platform in early 2024, with a focus on mobile app accessibility.

Since debuting in beta in September 2022, the NFT platform has witnessed significant usage in countries like Korea, Japan, Thailand, Taiwan, Indonesia, Vietnam, and India. Nonetheless, it’s set to particularly focus on Japanese services and brands following the shutdown of the nation’s LINE NFT platform last year.

In terms of blockchain-centric initiatives, LINE NEXT focuses on enabling brands to offer ownership of digital products and to introduce Web3 games featuring its famous characters, “BROWN & FRIENDS” — the messaging behemoth’s ultimate goal is to make Web3 applications more accessible and user-friendly to all.

DOSI’s forthcoming developments are a continuation of LINE’s ongoing engagements in the blockchain-centric space. The company has been steadily advancing its position in the digital and blockchain sectors over the past years.

Now, with substantial investment, the company is poised to make an even more significant impact on the global NFT and Web3 landscapes, positioning Asia at the forefront of these intriguing innovations.

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