LINE NEXT Corporation, a Korean company focused on Web3 business strategy, has recently secured a significant investment of $140 million. This funding round, led by Crescendo Equity Partners, a private equity firm backed by Peter Thiel, marks the largest investment in the Asian blockchain and Web3 industry this year. The investment is a testament to LINE NEXT’s strategies and vision for popularizing the Web3 ecosystem.
One of LINE NEXT’s key initiatives is the launch of its global NFT platform called DOSI. DOSI is set to be officially released in January 2024 and will serve as a digital marketplace for trading a wide range of digital products. It will be integrated with Japan’s LINE NFT marketplace and offered as a mobile app to users worldwide. This platform aims to provide a user-friendly experience and facilitate the adoption of NFTs.
In addition to the NFT platform, LINE NEXT plans to introduce new services to accelerate the popularization of Web3. These include a social app that allows users to communicate based on AI-generated characters they create. Furthermore, LINE NEXT intends to launch Web3 games featuring popular characters like BROWN & FRIENDS, making them accessible to a wide audience.
To support its initiatives, LINE NEXT will build these services on the public blockchain Finschia. Both LINE NEXT and Crescendo Equity Partners will participate as governance members in the Finschia Foundation, contributing to the expansion of the ecosystem.
LINE NEXT has already made significant progress in Web3 popularization through its beta service, accumulating 5.5 million users globally and facilitating over 470,000 cumulative transactions. With the new funding, LINE NEXT aims to further expand its global business and develop new services that empower users to own the value of their digital goods.