LINE NEXT, the NFT-focused subsidiary of the popular South Korean messaging app LINE, has secured an impressive $140 million in funding, marking the largest investment in the Asian blockchain Web3 industry this year. The funding was led by Crescendo Equity Partners, a private equity firm supported by renowned investor Peter Thiel.

LINE NEXT is known for its innovative approach to the NFT space and is gearing up to launch its global NFT marketplace, DOSI. As the NFT arm of LINE, a platform with 5.5 million users worldwide and over 470,000 cumulative transactions, LINE NEXT aims to reshape brand interactions and introduce engaging Web3-focused services.

DOSI, the upcoming app, will serve as a gateway to the NFT world, making it accessible globally. It will seamlessly connect with LINE's existing NFT marketplace in Japan, Line NFT, providing users with a comprehensive platform for digital collectibles.

For its NFT marketplace, LINE NEXT has chosen the Finschia public blockchain. Both LINE NEXT and Crescendo Equity Partners are set to become governance members of the Finschia Foundation, emphasizing their commitment to responsible blockchain governance. This strategic decision aligns with LINE NEXT's vision of popularizing Web3 and establishing a service ecosystem where users truly own the value of their digital assets.

DOSI is more than just a marketplace; it signifies LINE NEXT's dedication to nurturing a dynamic Web3 ecosystem. In addition to NFT trading, the platform will introduce a social app featuring AI-generated characters and engaging Web3 games. The well-known characters, BROWN & FRIENDS, will play a central role in Web3 games, offering users a unique and interactive experience.

The $140 million funding round, spearheaded by Crescendo Equity Partners, positions LINE NEXT as a leader in the Asian blockchain Web3 industry. The funds will not only support the launch of DOSI but also drive the development of additional Web3-focused services, reinforcing LINE's status as an industry innovator.