TechFlow news: Line Next has announced securing the largest investment in Asia's blockchain and Web3 industry to date—a $140 million (approximately 18 trillion KRW) investment from global private equity fund (PEF) manager Crescendo Equity Partners (Crescendo) and a consortium.
Line Next will use the funds to expand its global platform business and develop new services aimed at mainstreaming Web3. First, Line Next will officially launch its NFT platform City (DOSI) in January next year, currently in testing phase. LINE Next will also provide new solutions for Web2 services and brands, enabling them to directly own and trade existing digital assets, thereby simplifying Web3 adoption.
The company also plans to launch a social application that uses artificial intelligence (AI) technology to enable interactions with user-created characters, as well as web3 games featuring Brown & Friends characters.
Notably, LINE NEXT operates a global service based on the NFT-powered City platform, launched its beta version last year, reaching 10,000 users worldwide and accumulating over 55,047 transactions within just one year.
