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LY Corporation denied that its Web3 venture, Line Next, had entered into a concern business with Soneium, a Sony-backed Ethereum layer-2 network.
The statement, issued connected March 28, followed media reports and societal media sum that suggested a concern had been finalized betwixt LY and Soneium.
“These reports were based connected an announcement made by Soneium connected [March 12] that it plans to grow its concern by utilizing the LINE API and LINE Mini Apps connected our platform, though nary concern business oregon the similar has been established betwixt Soneium and LY Corporation,” LY said.
In response, a Soneium spokesperson told Cointelegraph: “Our March 12 announcement refers to a collaboration, which involves exploring the integration of onchain Mini Apps wrong the Line ecosystem. We basal by the accuracy of each contented published successful our authoritative statement.
“LY Corporation has besides directed readers to our announcement for discourse and clarification. Additionally, Soneium received support to notation Line successful that announcement, and the Kaia Mini App is not exclusive to immoderate azygous provider,” the spokesperson added.
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Japanese tech titans and their blockchain ventures
LY Corporation is simply a Japanese tech elephantine formed done the merger of respective large entities, including Line — Japan’s largest messaging level — and Yahoo Japan. The 2023 merger besides brought Line’s Web3 arm, Line Next, nether the LY umbrella.
Line Next was established successful precocious 2021 and raised $140 cardinal successful December 2023 from a consortium led by Crescendo Equity Partners. In January, it launched “Mini Dapps,” which connection games and societal contented wrong the LINE messenger — echoing the popularity of Telegram’s Mini Apps, which soared successful popularity done tap-to-earn games and airdrops.
Line’s Mini Dapps are powered by Kaia, a layer-1 blockchain formed by merging Line’s Finschia concatenation with Kakao’s Klaytn network. On March 6, Line announced that its Mini Dapps had surpassed 35 cardinal users.
The apical Mini Dapp generated $773,000 during the motorboat period connected Line. Source: Line Corporation
Like Line Next, Soneium is backed by a Japanese tech heavyweight, successful this case, Sony. Developed by Sony Block Solutions Labs, Soneium launched its mainnet successful January with features specified arsenic NFTs tied to Amazon Prime Video content.
Soneium taps into the planetary powerfulness of Japanese anime
On March 28, Soneium announced a abstracted concern with Animoca Brands to beforehand anime civilization successful Web3.
Through the partnership, Animoca’s integer individuality platform, Moca Network, volition make a decentralized individuality furniture connected Soneium, starting with Anime ID, a reputation-based identifier for anime fans.
The determination comes amid surging planetary involvement successful anime content. In a 2024 media interview, Rahul Purini, president of anime streaming app Crunchyroll, said the platform’s probe recovered 800 cardinal radical extracurricular of China and Japan — wherever Crunchyroll’s room and entree are constricted — ticker anime content.
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