LINE Blockchain Monthly Newsletter: May 2022
May was a difficult month full of new challenges for LINE Blockchain, and so we sincerely wish the best toward everyone who unexpectedly suffered from recent events, whether economically or mentally. The LINE Blockchain team will continue to develop our business with a focus on minimizing risk and complying with all regulations, clarifying our purpose and strategy to increase LN’s value.
LVC Corporation in Japan, the operator of LINE’s cryptocurrency and blockchain-related businesses there, recently changed its name to LINE Xenesis to demonstrate its commitment to expanding the blockchain sector, just like LINE NEXT companies in the United States and Korea were established to expand the global NFT ecosystem. All in all, this May was a time of strengthening stability and discovering new values for LINE Blockchain, as part of the growth of these new directions.
⎮ Highlights & Main News
[Interview] The Future of Web3 as Envisioned by LINE
In the world of Web3, users are being reinvented as service creators rather than simple service users.
[LINE Xenesis Corporation CEO, Lim Inkyu]: “The biggest change in Web3 is the concept of ownership, and whenever this concept changes, it marks a major turning point for human history.” When asked what would LINE do in today’s capitalist-oriented blockchain ecosystem, Hitoshi said, “We want to provide user-friendly and easy-to-use services for everyone. That’s what LINE’s mission is and how LINE Blockchain pursues services designed for everyone. In April, the LINE NFT platform was launched here in Japan, but as long as NFTs are still considered to be ‘speculation’, we need to better explain the practical value and importance of NFTs, to convince people to use the blockchain ecosystem rather than forcing the use of a new platform just because it’s new.”
[LINE Xenesis Corporation Executive Officer, Yoneyama Yusuke]: “Unlike where other NFT businesses ended up, LINE NFT is actually carrying out a real service, so we are receiving much interest from partners who want to collaborate with us and use LINE’s reputation and LINE Blockchain technology. Although the definition and concept of NFTs differ by each individual, we are trying to build a system that can be used for a variety of purposes in people’s daily lives and as a means of communication. By providing a platform service, we believe that using our services to deliver a message will depend on the will and plans of all parties working together.
◼︎ Source: Coindesk interview
◼︎ Read the original (Japanese only): パラダイムシフトの中でも「誰一人、取り残さない」 LINEが描くWeb3の未来
[Column] LINE’s Web3 Strategy: Building the Infrastructure and Content for Mainstream Success
LINE Blockchain has been engaged in several businesses in the United States, including a crypto asset exchange, however our biggest focus has been on Japan, where we are creating the foundation for a new digital environment by building a blockchain platform and services. Now, while focusing on the core of blockchain-based value distribution and shared growth, more popular NFT products and services along with a user-friendly UX are more important than ever. In an era where Asia is rapidly growing in importance in terms of global cultural contents and digital trends, we believe that LINE can realize the goals of LINE Blockchain’s projects, including Web3, on the strength of LINE’s global messenger infrastructure, vast social platform know-how, and blockchain platform assets.
DOSI Wallet, a Social Passport for the Global NFT Platform DOSI, Is Released
DOSI Wallet will provide not only payment and trading services, but also a variety of NFT experiences and social features as a social passport within the DOSI ecosystem. User-friendly payment methods, such as crypto, LINE Pay and Naver Pay, will be supported, as well as simple login with social media accounts. DOSI has teamed with the popular Korean theme park Lotte World to celebrate the new opening of a new theme park in Busan and DOSI Wallet’s service launch by having held an NFT airdrop event. The two companies aim to capture the popularity and the expandability of NFTs with Lotte’s high reputation and the cutting edge of the DOSI platform.
DOSI Wallet x Lotte World Adventure Busan
With the launch of DOSI Wallet, the Korean theme park Lotte World Adventure Busan held an NFT airdrop event for DOSI Wallet. The limited NFTs included four short videos featuring the Lotte World characters, with multiple benefits to be given through the DOSI Store in the future. In addition to Lotte World’s high expectations for their first NFT issuance with LINE NEXT, the two companies wish to add a variety of functions so that more customers can easily access the new platform and visit the newly opened theme park.
LINE Blockchain’s Discord Opens
LINE Blockchain has grown with the community over the past several years, and has improved a number of strategies and services based on the diverse opinions and views collected from those community members. Most recently, we opened a two-way communication channel through Discord, building a space where anyone can freely share opinions and establish group cohesiveness. We also plan to attempt a range of measures — such as voting and surveys — to encourage community members to participate more actively in the LINE Blockchain project, so we ask you to keep supporting us.
GAME DOSI at the World Gaming Forum by Han Ki-woong, GameFi Lab Lead
Sponsored by the Korea Game Association and the Ministry of Culture and Tourism, the 2022 World Game Forum asked us to give a lecture on the trends in Web3 and game contents from various countries, along with the promotion of LINE NEXT’s DOSI. It was rewarding to be able to share our vision of the convergence of game content and Web3, with globally successful Korean game companies, Vietnam’s major leaders in the P2E game ecosystem, and game content such as the “Move 2 Earn Trend” in Japan. GAME DOSI is all about Web3-based gaming, taking services that users have long enjoyed and spent their time and money on, and instead of replacing the concept of the user’s time with ownership.
The audience who attended the forum and the viewers who watched through the live stream broadcast highly praised LINE for creating a user-friendly platform using content and NFTs in the Web3 ecosystem. Through panel Q&A sessions, LINE NFT and DOSI were able to create much anticipation for the NFT content platform in Japan and globally, while also communicating with users around the world about the meaningful transformation that GAME DOSI will bring about. We look forward to meeting more users through DOSI and GAME DOSI’s global services in near future.
◼︎ Read a relevant article (Korean only): “유저, 게임에 쓴 시간 NFT로 보상 받는다” [2022 세계게임포럼]
◼︎ Watch the forum: https://youtu.be/ZOOxHp12oaU
⎮ LINK Overview
❖ Data is based on the last day of each month.
■ LN Market Cap: 342.40mn USD
■ LN Price: 55.98 USD
■ Monthly Trading Volume: 396.70mn USD
■ Circulation: 6,116,138 LN
■ Officially Listed Exchanges: BITFRONT, BITMAX, Bithumb
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