Line Targets Global NFT Market

Subsidiary LineNext to Launch NFT Platform 'Dosi' Beta Version as Early as Next Month

[Asia Economy Reporter Seungjin Lee] Naver, Korea's leading IT company, and SoftBank, Japan's leading IT company, have jointly launched Line to target the global non-fungible token (NFT) market.

On the 15th, Line's subsidiary Line Next plans to release the beta version of the global NFT platform "Dosi" as early as next month. By integrating Line's blockchain payment system "Link," it will build NFT trading, NFT brand stores, and a global community to officially launch the service by the end of the year.

Line Next has finalized investment agreements to build a global NFT ecosystem. Ten companies including SoftBank, Naver, Naver Webtoon, Naver Z, Line Games, CJ ENM, YG Plus, Shinsegae, Hashed, and K Auction will support the launch of "Dosi" and the development of IP content-based NFT projects.

Partnerships with global companies are also being strengthened. Twenty-six companies from gaming, entertainment, webtoons, metaverse (extended virtual world), and art sectors are participating. Visa and Crypto.com have also joined the Dosi ecosystem. Line plans to apply the intellectual property (IP) and content of these partners to develop and distribute various NFTs.

Organizational restructuring for the NFT business has also been carried out. In February, Line Friends changed its name to "IPX" and began focusing on metaverse and NFT businesses. Line Games is launching Web3 (decentralized web)-based games centered on NFTs and collaborating with Line Next.

Line Next first introduced the "Dosi Wallet." It provides not only NFT payment and trading but also communication functions between users as a "social passport wallet," offering diverse NFT experiences within the "Dosi" ecosystem.

Go Youngsoo, CEO of Line Next, stated, "The core of expanding the Web3 ecosystem is to NFT-ize the content users want and give it real value." He added, "Through this alliance, we will lead a new fandom culture and the popularization of NFTs."