LINE NEXT Receives $140 Million Investment to Fuel Growth in the Web3 Ecosystem

LINE NEXT Receives $140 Million Investment to Fuel Growth in the Web3 Ecosystem

LINE NEXT Corporation, a promising venture in the NFT ecosystem, has secured a staggering investment of USD 140 million. This investment, led by Crescendo Equity Partners, marks the largest funding round in the Asian Web3 industry this year. It serves as a significant milestone for LINE NEXT as it positions itself for exponential growth in the global Web3 ecosystem.

In January 2024, LINE NEXT will introduce its highly-anticipated global NFT platform known as DOSI. This revolutionary digital marketplace will enable users worldwide to engage in the trading of diverse digital products. Notably, DOSI will be seamlessly integrated with Japan’s LINE NFT marketplace, ensuring a seamless user experience. Accessible through a dedicated mobile application, the DOSI platform aims to capture the imaginations of digital product enthusiasts worldwide.

LINE NEXT is actively developing pioneering solutions to facilitate the integration of Web3 technologies into various services and brands. By enabling direct ownership and trading of digital products, LINE NEXT aims to empower services and brands to effortlessly incorporate Web3 into their operations. The ultimate goal is to drive widespread Web3 adoption and ensure that blockchain becomes an accessible and intuitive technology for the masses.

As part of its broader strategy to popularize Web3, LINE NEXT plans to launch new services that cater to the evolving demands of its user base. One such service is an AI-powered social app, which promises to revolutionize the way users connect and interact in the digital realm. Additionally, LINE NEXT is developing Web3 games featuring beloved characters from the BROWN & FRIENDS franchise. By leveraging the power of Web3 technologies, these games will offer users an immersive and captivating gaming experience.

To contribute to the expansion of the Web3 ecosystem, LINE NEXT and Crescendo will actively participate in the Finschia Foundation as governance members. Finschia, a public blockchain supported by prominent figure Peter Thiel, seeks to foster the growth and adoption of Web3 technologies. By joining forces with other industry leaders, LINE NEXT aims to influence the development of Web3 apps and establish user-friendly standards that enhance accessibility for general users.

Crescendo Equity Partners, led by managing partner Kevin Lee, brings not only a substantial investment but also a wealth of sector expertise and a robust tech ecosystem network. With a focus on identifying and nurturing global leaders among small to mid-cap technology companies, Crescendo’s involvement in LINE NEXT solidifies the venture’s position as a rising star in the Web3 industry.

Youngsu Ko, the CEO of LINE NEXT, considers this investment as a crucial step forward in a contracting global investment climate. Recognizing the significance of securing such funding, Ko emphasizes the intention to popularize Web3 and develop a new service ecosystem that places the value of digital goods in the hands of users. With over 5.5 million users worldwide and an impressive 470,000 cumulative transactions, LINE NEXT is well on its way to achieving its vision of becoming a prominent player in the Web3 ecosystem.

Headquartered in Korea, LINE NEXT has already made significant strides in its beta service, experiencing rapid growth in its first year. With a subsidiary in the U.S. and an office in Japan, LINE NEXT is primed to expand its presence globally. The company remains dedicated to the continuous development and expansion of the Web3 ecosystem, ensuring that innovative solutions and opportunities are accessible to users worldwide.

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