Japanese Online Retail Giant Rakuten Launches NFT Marketplace

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Japanese Online Retail Giant Rakuten Launches NFT Marketplace – Rakuten Group, a Tokyo-based electronic commerce and online retail firm, has announced the launch of Rakuten NFT, a non-fungible token (NFT) platform.

New features will be introduced in the future, according to the statement, and a peer-to-peer service for minting and selling NFT content is set to open in 2023.

Rakuten, the Japanese online retailer, has been dabbling in the area of cryptocurrencies and blockchain technologies over the previous few years. Rakuten started a cryptocurrency exchange in the summer of 2019 and allowed consumers to deposit bitcoin into their Rakuten Pay accounts in the spring of 2021.

Rakuten has announced the creation of a new platform named Rakuten NFT, which is the company’s first foray into the NFT space.

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The news release states, “Rakuten NFT is a service that offers a marketplace for users to purchase NFTs, as well as peer-to-peer purchasing and selling of NFTs, in a variety of fields such as sports and entertainment, including music and anime.”

“It also includes a one-stop platform that allows IP holders to create their own website to issue and sell NFTs.” Users can earn and spend Rakuten Points by using their Rakuten ID while making purchases. Any NFTs purchased can be added to a collection on the buyer’s own website, or they can be listed on the marketplace and sold.”

Rakuten has been following a number of companies that have established NFT markets in the last year. Marketplace systems devoted to non-fungible token (NFT) collectibles have been developed by companies such as Coinbase, FTX, and others.

In addition, top NFT market platforms such as Rarible, Opensea, and Magic Eden compete with Rakuten NFT. According to Rakuten’s press release, a minting and selling feature will not be accessible until next year.

“In 2023 or later, a service for peer-to-peer issuing and selling of NFT content will be launched, allowing IP holders in Japan and throughout the world to issue NFTs and spurring the establishment of a global market for NFTs.” According to Rakuten’s launch release, “plans also call for the implementation of a variety of alternative payment options.”

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Japanese Online Retail Giant Rakuten Launches NFT Marketplace – NFTs showcasing Ultraman animation and Kurogane Hiroshi G1 Gekitoshi, with work illustrated by renowned manga artist Hiroshi Kurogane, were exhibited during the Rakuten NFT launch.

Rakuten NFT will release collectibles from TV Asahi Corporation series, Daiki Sound Co.’s Under Beasty, and NFTs depicting characters from Tiger & Bunny 2 in the future.

The company’s NFT platform statement concludes, “Rakuten NFT also plans to manufacture and market the J.League NFT Collection Players Anthem.

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