Rakuten Launches NFT Marketplace to Take Advantage of Growing Adoption in Japan

The major Japanese e-commerce company Rakuten has announced launching its own nonfungible token (NFT) trading platform called Rakuten NFT.

The company initially revealed its plans to launch its own NFT marketplace in 2021 amid the growing popularity of non-replaceable tokens worldwide. According to Rakuten, the NFT marketplace also houses a platform that allows intellectual property owners to create their own websites for publishing and selling NFTs.

Coin-Crypto has reached out to the Rakuten team for more information on the development, and this story will be updated as more details become available.

With a population of more than 126 million people and a famous pop culture with anime and manga, there are many people to think that Japan has the ability to boost adoption of blockchain assets such as crypto collectibles.

Related: 26% of Crypto Investors in Japan Tried NFTs: Survey

In 2021, the global NFT ecosystem has undergone tremendous development. Following a record surge in trading volumes and adoption, major players in various sectors started trading NFTs.

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

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