Line Subsequent, a enterprise devoted to the expansion of the nonfungible token (NFT) ecosystem, has raised $140 million because it prepares to launch a worldwide NFT market in January 2024.
The Line Subsequent enterprise branched out of the favored WhatsApp-like messaging app from South Korea, Line, which is devoted to exploring Web3 initiatives. Peter Thiel-backed personal fairness agency Crescendo Fairness Companions led the $140 million funding spherical.
In accordance with the announcement, Line Subsequent’s international NFT market, DOSI, is scheduled to launch in early 2024 after integrating with Line’s current Japan-based NFT market, often called Line NFT. The brand new NFT market will launch as a cell app and be out there globally.
The corporate may also use a part of the $140 million fund to introduce new Web3-focused providers, which embody a social app that enables customers to deploy synthetic intelligence (AI)-generated characters and Web3 video games.
Line’s NFT market will use Finschia public blockchain, whereas Line Subsequent and Crescendo will change into governance members of the Finschia Basis. Line Subsequent at the moment caters to five.5 million customers worldwide.
Associated: TON blockchain launches on-chain encrypted messaging function
In a current Cointelegraph podcast, Shane Mac, co-founder of XMTP — an open protocol and community for safe Web3 messaging — revealed a “enormous alternative” in rebuilding Web2 messaging platforms for Web3.
Mac defined how Web3 affords a brand new type of identification the place folks have wealth and persona tied to pockets addresses however can not talk with one another, including:
“To confirm a message with the pockets signature that’s the similar pockets signature that proves you personal what you say you personal felt like an enormous innovation.”
Whereas emphasizing Web3 messaging’s distinctive capabilities, Mac mentioned that Web3 messaging is a crucial step in making certain that customers have full management over their data and the way they work together on the web.
Journal: Lawmakers’ concern and doubt drives proposed crypto laws in US