Rakuten launches an NFT marketplace to capitalize on growing adoption in Japan

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

The firm initially revealed its plans to launch a proprietary dw NFT marketplace in 2021 amid the growing popularity of non-fungible tokens around the world. According to Rakuten, the NFT marketplace also hosts a platform that allows IP owners to create their own websites to issue and sell NFTs.

Cointelegraph has contacted the Rakuten team for more information on the development, and this story will be updated as more details become available.

With a population of over 126 million and a renowned pop culture that includes anime and manga, many people they think that Japan has the ability to drive the adoption of blockchain assets like crypto collectibles.

In 2021, the global NFT ecosystem saw great development. Following a record surge in trading volumes and adoption, major players in various sectors began trading non-fungible tokens.

As the value of the NFT market continues to rise, the interest in these innovative assets is growing in Japan. In March 2021, the country’s local cryptocurrency exchange Coincheck introduced a dedicated NFT marketplace. In July, pioneering crypto evangelist Mai Fujimoto, better known as Miss Bitcoin, partnered with blockchain gaming ecosystem Enjin to create an NFT charity program in Japan.

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