LINE NEXT’s DOSI Set to Revolutionise NFTs with $140M Investment
In a groundbreaking move that has set ripples across the Asian blockchain and Web3 industry, LINE NEXT Corporation, the NFT arm of the messaging giant LINE, has secured a monumental investment of $140 million. Spearheaded by Crescendo Equity Partners, a private equity firm with the influential backing of tech luminary Peter Thiel, this investment is a testament to LINE’s vision. It marks a significant milestone in the world of Web3.
Unveiling DOSI: A Global NFT Marketplace
📢LNXT, raised $140M the Largest Investment in Asian Industry This Year
LINE NEXT raised $140M investment, which markets the largest funding round in Asian blockchain Web3 industry this year and kicking off officially launch as 'Digital Marketplace' Jan. 2024 🎉
The focal point of this colossal investment is the official launch of DOSI, a global NFT platform scheduled for January 2024. DOSI, designed to be a digital marketplace for diverse digital products, is set to become a game-changer in the NFT space. This mobile app is poised to cater to users worldwide by seamlessly integrating with Japan’s LINE NFT marketplace.
During the beta service phase, DOSI garnered significant traction, with active users hailing from various regions, including Korea, Japan, Thailand, Taiwan, Indonesia, Vietnam, and India. This global reach reflects the platform’s potential to become a worldwide phenomenon upon its official launch.
Empowering Brands and Gamers in the Web3 Universe
LINE NEXT’s vision extends beyond NFTs. They are committed to helping brands harness the power of Web3 by enabling them to grant ownership of their existing digital products. This innovative approach simplifies the adoption of Web3 into various services and brands, bridging the gap between the Web2 and Web3 worlds.
Furthermore, LINE NEXT plans to introduce Web3 games featuring the beloved BROWN & FRIENDS characters, promising an engaging experience for a broad audience.
Kevin Lee, the managing partner of Crescendo Equity Partners, lauded LINE’s global competitiveness and their vision for leading Web3 services. He expressed his hopes for establishing standards that make Web3 accessible to general users, revolutionising the landscape of services and brands in Web2.
To realise these ambitious goals, LINE NEXT will collaborate with Crescendo as governance members of the Finschia Foundation. This collaboration is expected to contribute significantly to the expansion of the Web3 ecosystem, establishing a solid foundation for the future.
In the words of Youngsu Ko, CEO of LINE NEXT, “We plan to use this opportunity to popularise Web3 further and develop a new service ecosystem where users own the value of their digital goods.”
A Remarkable Journey Towards Web3 Popularisation
LINE NEXT has already been at the forefront of popularising Web3 through its range of global services based on DOSI. With 5.5 million users worldwide and over 470,000 cumulative transactions in just one year, since the beta service began, their rapid growth underscores the growing interest and demand in the Web3 space.
As LINE NEXT continues to blaze a trail in the Web3 universe, it is clear that this substantial investment is not just a financial boost but a significant step towards transforming the digital landscape.
About LINE NEXT Corporation
LINE NEXT Corporation, based in Korea, is dedicated to Web3 business strategy and planning. With a global NFT platform business subsidiary in the U.S. and an office in Japan, LINE NEXT is committed to developing and popularising the Web3 ecosystem for everyone.
About Crescendo Equity Partners
Crescendo Equity Partners Limited, sponsored by Peter Thiel, co-founder of PayPal and Palantir Technologies, is a technology-focused private equity firm. Their investments target high-growth potential companies with exceptional technologies, spanning traditional B2B hardware sectors to emerging software sectors. As of November 2023, their assets under management reached approximately 1.8 trillion won, based on cumulative committed amounts.
