SoftBank and Naver Corporation to Launch NFT Marketplace

New NFT Trading Platform Launches

Z Holdings, a Japanese holding company owned by SoftBank and Naver Corporation, plans to launch an NFT trading platform. It is reported by Bloomberg.

According to one of the top managers of SoftBank, the marketplace will start working in the spring of 2022 in 180 countries at once.

Z Holdings owns Internet company Yahoo Japan, Japan’s largest instant messenger Line and mobile payment service PayPay.

The holding noted that as part of the development strategy, they would pay attention to the direction of Web 3.0. This umbrella term includes a growing list of blockchain applications such as crypto exchanges, DeFi services, and NFT marketplaces.

“Maybe Web 3.0 will be the harbinger of a world where life will be very different, and we do not want the company to miss a huge opportunity for growth. We will not hesitate to enter into mergers and acquisitions to increase our presence,” said Kentaro Kawabe, chief executive of Z Holdings.

The owners of the holding are actively investing in the industry. SoftBank has backed projects such as the Mercado Bitcoin exchange, the Sorare NFT platform, the infrastructure startup Blockdaemon, and its partner Naver, developer of the Zepeto metaverse.

Recall that in 2021, the media reported on Naver’s negotiations to buy a stake in the largest Korean crypto exchange Bithumb.

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