• Yahoo Japan partners with Line to launch NFT deal

  • Yahoo Japan, Japan’s leading internet company, has partnered with messaging giant Line to launch non-forgeable token (NFT) transactions.

    Line officially announced that its cryptocurrency-focused subsidiary, LVC Corporation, will work with Yahoo Japan to enable secondary trading of NFTs issued on Line’s proprietary blockchain.

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

    To enable NFT transactions on the platform, the two partners will integrate Yahoo Auction with the Line Bitmax wallet, Line’s proprietary blockchain wallet designed to manage digital assets, including NFTs.The partnership will enable users to trade NFTs managed through the Line Bitmax wallet directly on Yahoo Auction.According to the announcement, the two companies expect to launch NFT transactions on Yahoo Auctions by the end of 2021.

    “We will work with other partners to revitalize the distribution of valuable content and contribute to the expansion of the secondary distribution market for the NFT industry,” the announcement stated.

    The announcement comes shortly after Line launched its NFT marketplace test service on its Line Bitmax wallet in late June.

    Yahoo Japan has been an active participant in the Japanese cryptocurrency industry. The company is known for its support of Amoy; a major local cryptocurrency exchange that launched in 2019. The exchange was acquired by Japanese financial conglomerate SBI Holdings in October last year.

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