NFT-Focused Line Next Secures $140 Million Investment in Funding Round Led by Peter Thiel-Sponsored Firm

Line Next, a subsidiary of Line Corporation, said connected Dec. 13 that it has secured a $140 cardinal concern successful a backing circular led by the Peter Thiel-sponsored Crescendo Equity Partners. Line Next has said it volition usage the superior raised to money the enlargement of its planetary concern and make caller services.

Popularizing the Web3 Ecosystem

Line Next, a non-fungible token (NFT) part of Line Corporation, announced connected Dec. 13 that it has secured a $140 cardinal concern from a radical led by Crescendo Equity Partners. Line Next said it volition usage the superior raised to money the enlargement of its planetary concern and make caller services.

According to a statement, these activities acceptable with Line Next’s program of popularizing the Web3 ecosystem. To execute these objectives, the task steadfast volition commencement with the motorboat of the NFT level DOSI successful January 2024. Integrating it with Line’s Japan NFT marketplace means DOSI volition besides beryllium offered to users astir the satellite arsenic a mobile app.

Youngsu Ko, the CEO of Line Next, remarked connected his firm’s feat of achieving 1 of the largest backing rounds successful the Asian blockchain Web3 manufacture successful 2023. He said, “It is important that we were capable to unafraid this backing successful the discourse of a globally contracting concern environment. We program to usage this accidental to further popularize Web3 and make a caller work ecosystem wherever users ain the worth of their integer goods.”

A Standard for Web3 Apps

Kevin Lee, the managing spouse astatine Crescendo, a backstage equity sponsored by Peter Thiel, touted Line Next’s competitiveness and vision. Lee said Crescendo hopes that the concern raised volition assistance Line Next physique “a modular for Web3 apps that wide users tin easy usage and follow blockchain to each sorts of services and brands of Web2.”

Meanwhile, successful summation to launching DOSI and integrating this with its Japanese NFT marketplace, Line Next said it plans to motorboat a societal app. The NFT-focused steadfast besides plans to motorboat “new Web3 games utilizing BROWN & FRIENDS characters that anyone tin enjoy.”

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