Yahoo!Japan cooperates with Line to launch NFT transactions

Yahoo! Japan’s major Internet company! Japan has partnered with messaging giant Line to launch non-fungible token (NFT) transactions.

Officially launched Announce On Tuesday, its cryptocurrency-focused subsidiary LVC Corporation will cooperate with Yahoo! Japan allows secondary transactions for NFTs issued on Line’s proprietary blockchain.

As part of the partnership, Yahoo! Japan will place NFTs based on the Line blockchain on its online auction service Yahoo! Auctions, a service set up by the company in 1998 to compete with e-commerce giant eBay.

In order to enable NFT transactions on the platform, the two partners will integrate Yahoo! to use the Line Bitmax wallet for auctions, which is Line’s proprietary blockchain wallet designed for the management of digital assets (including NFT). This cooperation will enable users to directly trade NFTs managed by the Line Bitmax wallet on Yahoo!. auction. According to the announcement, the two companies are expected to launch NFT transactions on Yahoo! Auction by the end of 2021.

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The announcement stated: “We will cooperate with other partners to revitalize the distribution of valuable content and contribute to the expansion of the secondary distribution market in the NFT industry.”

The news was released shortly after Line launched the NFT Market Beta service on its Line Bitmax wallet at the end of June.

As previously reported, Yahoo! Japan has always been an active participant in the Japanese cryptocurrency industry.This The company is known for supporting Taotao; A major local cryptocurrency exchange launched in 2019. Acquired by Japanese financial group SBI Holdings Last October.