LINE Yahoo raises 20 billion yen to popularize Web3 | CoinDesk JAPAN

On December 13th, LINE Yahoo announced that LINE NEXT, a group company that plans and develops NFT platforms, received 140,000 yen from private equity (PE) fund “CRESCENDO EQUITY PARTNERS” (hereinafter referred to as “Crescendo”) and a consortium led by the same fund. The company announced that it would raise $1 million (approximately 20 billion yen).

LINE NEXT is developing the NFT platform “DOSI”. According to the release, one year after the beta version was launched, the number of registered accounts of DOSI Wallet currently exceeds 5.5 million, and the cumulative number of transactions has reached approximately 470,000.

“DOSI” is scheduled to be renewed in January 2024 as a digital marketplace where various digital items can be traded. The domestic NFT marketplace “LINE NFT” and others will be integrated into “DOSI” and will be provided as a mobile app that users around the world can enjoy. It is also said that it will accelerate the spread of Web3 by supporting companies’ introduction of Web3.

Furthermore, we will work on developing new services such as social apps that allow communication using characters created with AI (artificial intelligence) and Web3 games.

Crescendo is a PE fund invested by Peter Thiel, co-founder of US payment giant PayPal. The aim is to discover promising companies in the technology field and grow them into global top companies.

｜Text/Editing: CoinDesk JAPAN Editorial Department
｜Image: From the release