LINE NEXT Raises $10 Million Investment... Collaborates with SoftBank and CJ ENM

[Asia Economy Reporter Kang Nahum] Line Next announced on the 13th that it has signed strategic investment agreements worth a total of $10 million (approximately 13 billion KRW) with 10 companies to build a global non-fungible token (NFT) ecosystem.

The 10 companies participating in this investment, including SoftBank, Naver, Naver Webtoon, Naver Z, Line Games, CJ ENM, YG PLUS, Shinsegae, Hashed, and K Auction, will support projects such as the launch of the global NFT platform "DOSI" and the development of NFT projects based on intellectual property (IP) content.

Through this investment, Line Next will strategically collaborate with content, distribution, gaming, and entertainment companies that own various IPs to link NFT content business and marketing, accelerating its leadership in the global NFT market.

Line Next expects to activate the NFT platform by introducing NFTs that are familiar to the public, and investment companies owning IPs will be able to promote global distribution of content through NFT creation, thereby forming a broader consumer base.

First, Line Next plans to diversify content by signing exclusive IP contracts with Naver's NOW., CJ ENM, and launching NFT projects based on entertainment IPs such as DIA TV and Street Man Fighter.

In particular, the developed NFTs can be traded at each brand store on the upcoming global NFT platform "DOSI." To increase accessibility to NFT trading, Naver IDs will be linked to the NFT wallet "DOSI Wallet" for easy login, and payments for NFTs will be possible via Naver Pay.

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

This content was produced with the assistance of AI translation services.