[PR] LINE Establishes LINE NEXT Corporation to Expand NFT Ecosystem
- Based in Korea and the United States, LINE NEXT will focus on innovating and expanding the global NFT ecosystem
- Using LINE’s extensive experience and knowhow developing and
SEONGNAM, South Korea — December 16, 2021 — LINE Corporation announced today that it has launched LINE NEXT, a venture dedicated to developing and expanding the global NFT ecosystem. LINE NEXT is comprised of two companies, with the Korea-based LINE NEXT Corporation focusing on global NFT platform strategy and planning and the US-based LINE NEXT Inc. working on developing and operating a non-fungible token (NFT) platform business.
Based on LINE’s blockchain and NFT businesses, LINE NEXT Inc. plans to introduce a new global NFT platform based on LINE’s extensive experience and knowhow developing global services and blockchain technology products. The new global NFT platform will support companies and creators around the world as they build markets and create communities and ecosystems for general users to trade NFTs.
Youngsu Ko, Chief Product Officer of LINE App Products and CPO of LINE Fintech Company, has been appointed CEO of LINE NEXT, while Woosuk Kim, CEO of LINE TECH PLUS, has been appointed Business Director.
“NFTs are a kind of technology infrastructure that will transform the digital space and innovate the user experience in all areas, such as content, gaming, social and commerce,” said Youngsu Ko. “LINE has over a decade of proven experience as an innovator, becoming one of the most popular tech companies in Asia. Now we aim to do the same for the exciting new field of NFTs together with our global partners, with the Korea office focused on global NFT platform strategy and our office in the United States focused on the NFT business.”
Since establishing LINE Blockchain Lab, LINE has issued its crypto asset LINK and operates the crypto asset exchanges LINE BITMAX in Japan and BITFRONT globally. In addition, LINE operates a blockchain service development platform, LINE Blockchain Developers Platform, and a beta version of an NFT market on LINE BITMAX Wallet in Japan. More than 1.3 million NFTs have already been issued based on the LINE blockchain, through our various blockchain partners in such fields as IP, content, and gaming.
■ About LINE NEXT
Based in Korea and United States, LINE NEXT is focused on developing and growing the global NFT business. Through blockchain and NFT technology, LINE NEXT aims to provide new digital experiences and lead the way into the future.
■ About LINE
Based in Japan, LINE is dedicated to the mission of “Closing the Distance,” bringing together information, services and people. The LINE messaging app launched in June 2011 and since then has grown into a diverse, global ecosystem that includes AI technology, fintech and more. LINE joined the Z Holdings Group, one of the largest internet service groups in Japan, following the completion of a business integration in March 2021.
LINE, LINK, BITFRONT, LINE Blockchain, LINE BITMAX, LINE Blockchain Developers, LINE NEXT are registered trademarks and trademarks of LINE Corporation.