Rakuten Launches NFT Marketplace To Capitalize On Growing Adoption In Japan


The NFT popularity explosion in 2021 continues rapidly into the new year as well.

Leading Japanese e-commerce company Rakuten has announced the launch of its own non fungible token (NFT) trading platform named Rakuten NFT.

Amid the growing popularity of nonfungible tokens (NFT) worldwide, the company first unveiled plans to launch a proprietary NFT marketplace in 2021. As per Rakuten, NFT Marketplace hosts a platform that allows intellectual property owners to create their websites to issue and sell NFTs.

Rakuten NFT is planning to produce and sell the J.League NFT Collection Players Anthem, the J.League official NFT collection, and to develop the Rakuten NFT Art Gallery, a collection of original NFT artwork selected by Rakuten NFT,” Rakuten added.

With a population of over 126 million and a popular pop culture of animation and manga, many believe that Japan has the potential to increase the acceptance of blockchain assets such as cryptocurrencies-based collectibles.

A service for peer-to-peer issuing and selling of NFT content is planned for launch in 2023 or later, which will support IP holders in Japan and worldwide to issue NFTs, as well as spur further development of a global market for NFTs,” the Tokyo-headquartered Rakuten said, adding that there are plans to launch additional payment methods.

The NFT habitats around the world will experience tremendous growth by the year 2021. Thus following a record increase in trade size and receipts, various major players from different sectors started trading in NFTs.

As the NFT market value continues to grow, interest in these innovative assets will increase in Japan. In March 2021, the country’s local crypto exchange Coincheck also launched a dedicated NFT marketplace. The early cryptocurrency evangelist Mai Fujimoto, known as “Miss Bitcoin”, joined the Blockchain gaming ecosystem engine to create the NFT charity program in Japan back in March 2021.

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