Yahoo! Japan, a major Japanese internet business, has teamed up with messaging app LINE to enable non-fungible tokens trading.
LINE’s cryptocurrency-focused subsidiary LVC Corporation said on Tuesday that it will work with Yahoo! Japan to facilitate secondary trading of NFTs issued on LINE’s own blockchain. Users will be able to quickly list and bid on NFT products issued on the LINE Blockchain network controlled by LINE Bitmax Wallet using Yahoo! Auctions!
LVC Corporation, the operator of LINE cryptocurrency and blockchain-related businesses, became a registered cryptocurrency exchanger under Japan’s Payment Services Act, on Sept. 6. The license was awarded by Japan’s Financial Service Agency.
It will create an NFT marketplace where more individuals can easily purchase and sell NFT products using an auction process in which the price grows following market value.
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It will also collaborate with a variety of partners to revitalize the distribution of quality content and contribute to the growth of the NFT secondary distribution market. Yahoo! Japan and LINE will deepen their collaboration across a variety of services to increase user safety, security, and data governance. The announcement by LINE, mentions,
We have decided to work together in the area. NFT items based on the blockchain “LINE Blockchain” originally developed by LINE will be available for trading on the online auction service “Yahoo! Auctions” provided by Yahoo! JAPAN from this winter.
This announcement comes promptly after LINE launched the NFT Market Beta Service on its LINE Bitmax wallet in late June.
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