- This year sees the most significant investment in Asia’s blockchain and Web3 sector.
- Crescendo Equity Partners, a private equity firm backed by Peter Thiel, spearheads the investment, highlighting LINE’s strategies and vision for popularizing Web3.
- LINE NEXT intends to utilize funding to launch a novel platform and services that bridge Web3 with existing web functionalities on a global scale.
LINE NEXT Corporation, the dynamic force propelling the NFT ecosystem under LINE’s banner, proudly announces a monumental stride forward: securing a staggering USD 140 million investment from a consortium spearheaded by the esteemed private equity firm, Crescendo Equity Partners (“Crescendo”).
This landmark investment stands as the pinnacle of funding rounds within the Asian blockchain Web3 sector for the current year, a testament to our unwavering commitment and innovative prowess. With this substantial backing, LINE NEXT embarks on a journey to amplify its global footprint and pioneer groundbreaking services, cementing its position as the vanguard of the Web3 revolution.
Leading the charge is the imminent launch of DOSI, our revolutionary global NFT platform slated to debut in January 2024. Through DOSI, users worldwide will access a cutting-edge digital marketplace facilitating the seamless exchange of an extensive array of digital assets. Integrated with Japan’s esteemed LINE NFT marketplace, DOSI will revolutionize ownership paradigms, empowering brands and services to seamlessly transition into the Web3 era.
But our ambitions extend far beyond the realm of NFTs. Armed with this infusion of capital, LINE NEXT is poised to unveil a suite of transformative services designed to catalyze the widespread adoption of Web3. From a revolutionary social app harnessing the power of AI-generated characters to immersive Web3 games featuring beloved BROWN & FRIENDS characters, our innovative offerings will captivate audiences globally.
Rooted in our unwavering commitment to openness and decentralization, these services will be built upon the robust foundation of the public blockchain Finschia. As staunch advocates for the advancement of the Web3 ecosystem, LINE NEXT and Crescendo are proud to assume roles as governance members within the Finschia Foundation, furthering its mission of fostering innovation and inclusivity.
Backed by Crescendo Equity Partners, helmed by the visionary Peter Thiel, our trajectory is guided by unparalleled sector expertise and access to a vast tech ecosystem spanning the globe. Together, we aim to redefine the standard for Web3 applications, democratizing blockchain adoption across diverse industries and ushering in a new era of digital empowerment.
Reflecting on this momentous achievement, Youngsu Ko, CEO of LINE NEXT, underscores our unwavering commitment to propelling Web3 into the mainstream. In a landscape fraught with uncertainty, securing this monumental investment reaffirms our resolve to pioneer a new era of digital ownership and empowerment.
With 5.5 million users worldwide and over 470,000 cumulative transactions to date, LINE NEXT continues its meteoric rise, catalyzing Web3 adoption on a global scale. As we forge ahead, fueled by innovation and driven by our steadfast vision, we remain steadfast in our mission to reshape the digital landscape and empower users to truly own the value of their digital assets.