LineNext Raises $140M to Expand Web3 Platform and Launch NFT Marketplace

The new platform, set to launch in January 2024, will feature a global mobile app, a new social app with AI avatars, and Web3 games.

LineNext, a web3 unit of the Japanese messaging app Line, has secured $140 million in funding led by Crescendo Equity Partners to expand its web3 platform and launch its official NFT platform DOSI in January 2024.
The new platform will include a mobile app available to global users, integration of games and over 100 partners of LINE NFT in Japan, and a new development tool to help Web 2 brands transform into Web 3 digital products.
LineNext also plans to release a new social app allowing users to communicate via AI avatars and launch new Web3 games utilizing Line’s character Brown and Friends.
The company has amassed 5.5 million users globally during its beta product period, with more than 470,000 cumulative transactions.
LineNext's services will be provided on its public blockchain mainnet, Finschia, which is 400x faster in transaction speed and 98% lower in network usage fee than Ethereum.