Tokyo-based Softbank, through the Z Holdings group, plans to open a trading platform for buying and selling NFTs.
The plans were announced by one of the executive directors of Softbank Kentaro Kawabe. Last year, Softbank merged Line and Yahoo Japan into Z Holdings to work with Web3, the metaverse, and NFTs.
“Web3 is likely to be the prerequisite for a whole new world in which people’s lives will change dramatically, and we don’t want to miss the opportunity to contribute to the future,” said Kawabe.
The CEO assured that Softbank did not hesitate to conclude the merger to increase its market presence.
Z Holdings’ five-year budget for Web3 development initiatives is about 500 billion yen, or $5.9 billion. Kawabe recalled a statement by Softbank CEO Junichi Miyakawa, in which he argued that the concept of metaverses will become a source of completely new services and business models. .
The announcement of Z Holdings’ entry into the NFT market follows the recent news that Japanese e-commerce giant Rakuten is launching its NFT platform. Rakuten plans to launch a peer-to-peer service for the issuance and sale of non-fungible tokens next year.
Source: Bits
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