Securing a $140 Million Investment
Line Next, a subsidiary of Line Corporation, recently announced that it has obtained a $140 million investment led by Crescendo Equity Partners. The funds will be used to support the company’s global expansion and the development of new services.
Advancing the Web3 Ecosystem
The investment aligns with Line Next’s goal of popularizing the Web3 ecosystem. As part of their strategy, the company will launch an NFT platform called DOSI in January 2024. This platform will be integrated with Line’s Japan NFT marketplace, allowing users around the world to access it via a mobile app.
Pioneering in the Asian Blockchain Industry
Line Next’s CEO, Youngsu Ko, highlighted the significance of this funding round as one of the largest in the Asian blockchain Web3 industry in 2023. Ko expressed his intention to capitalize on this opportunity to promote Web3 and create a service ecosystem where users have ownership of their digital assets.
Building a Standard for Web3 Apps
Kevin Lee, the managing partner at Crescendo Equity Partners, commended Line Next for its competitiveness and vision. He stated that the investment aims to support Line Next in establishing a standard for Web3 applications that are accessible and easily adoptable by general users across various services and brands.
Expansion Plans and New Offerings
In addition to launching DOSI and integrating it with the Japanese NFT marketplace, Line Next plans to introduce a social app. The company is also developing new Web3 games featuring BROWN & FRIENDS characters to provide entertaining experiences for everyone.
Hot Take: Line Next Receives $140 Million Investment to Promote Web3
Line Next, a division of Line Corporation, has secured a significant $140 million investment from a group led by Crescendo Equity Partners. This funding will enable Line Next to expand its global business and develop innovative services. The company’s focus on popularizing the Web3 ecosystem aligns with its upcoming launch of the NFT platform DOSI. By integrating DOSI with Line’s Japan NFT marketplace, Line Next will offer worldwide access through a mobile app. With this investment, Line Next aims to establish itself as a leading player in the Asian blockchain Web3 industry and create a user-friendly service ecosystem. Additionally, Line Next plans to offer a social app and introduce Web3 games for widespread enjoyment.
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