Japanese e-commerce platform Rakuten launches NFT marketplace

Japanese e-commerce and online retail giant Rakuten is launching its own NFT marketplace! Japanese Amazon calls its new trading platform Rakuten NFT. The company has more than 70 services operating in three segments: Internet services, FinTech and Mobile services. So this business venture is quite in line with its strength as a digital giant.

Rakuten NFT Marketplace

Last year, Rakuten revealed plans to launch its own NFT marketplace amid the growing popularity of NFTs. The NFT marketplace also hosts a platform that allows intellectual property owners to create their own websites to issue and sell NFTs, the company said.

The intellectual property of Japan includes a lot of high quality and attractive content. In addition, Japan has a distinctive pop culture that has a huge global appeal. For example, anime and manga have huge fan bases that are willing to buy collectibles.

The introduction of NFT in Japan is beginning to gain momentum. In March 2021, local cryptocurrency exchange Coincheck launched a dedicated NFT marketplace. Then the country’s first cryptocurrency evangelist Mai Fujimoto or Miss Bitcoin organized a charity auction. Leading Japanese social media platform LINE is also launching its own NFT marketplace.

On a larger scale, giants NMT are also recognizing the opportunities in the Japanese market. Animoca Brands will now operate in the Land of the Rising Sun under the name Animoca Brands KK (Animoca Brands Japan). The new strategic subsidiary got off to a good start as it raised 1.1 billion yen (about $10 million) in its seed funding round.

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