Naver and CJ partner on NFT global business
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Line Next announced on the 13th that it has attracted about 13 billion won in investment from Softbank and Naver. Line Next is a corporation established by Line in Korea and the United States at the end of last year to operate a non-fungible token (NFT) platform.
Ten companies, including Softbank, Naver, Naver Webtoon, Naver Jet, Line Games, CJ ENM, YG Plus, Shinsegae, Hashed, and K Auction, participated in the investment contract. They signed a strategic investment contract worth 10 million dollars (approximately 13.06 billion won) to build a global NFT ecosystem.
Through this investment, Linenext plans to pioneer the global NFT market by cooperating with content, distribution, game, and entertainment companies that own various intellectual property rights (IP) in NFT content business and marketing links. Line Next activates a platform that can issue and trade friendly NFTs to the public. Investors with IP promote the global distribution of content and expand the user base through NFT production. LINE NEXT will showcase IP-based NFT projects, including Dia TV and the entertainment show 'Street Man Fighter'. In addition, to increase accessibility to NFT transactions, Naver's login information will be linked to the NFT wallet 'Urban Wallet', and a service will be provided so that users can pay for NFTs with Naver Pay.
[Reporter Lim Young-shin]
