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Rakuten launches NFT marketplace to capitalize on growing adoption in Japan

The meteoric rise in popularity of NFTs that began in 2021 is continuing apace in the new year.

Rakuten, a major Japanese e-commerce company, has announced the introduction of Rakuten NFT, its own nonfungible token (NFT) trading platform.

The company first announced ambitions to build an unique non-fungible token marketplace in 2021, citing the growing global interest of non-fungible tokens. According to Rakuten, the NFT marketplace also includes a platform that enables intellectual property owners to establish their own websites for issuing and selling NFTs.

Rakuten team for additional information, and this story will be updated when additional details become available.

With a population of more than 126 million and a renowned pop culture centered on anime and manga, many believe that Japan has the potential to accelerate the adoption of blockchain assets such as crypto-collectibles.

By 2021, the global NFT ecosystem would have grown tremendously. Following a meteoric rise in trade volume and adoption, key companies across a range of industries began dealing in non-fungible tokens.

With the NFT market’s worth continuing to climb, interest in these cutting-edge assets is increasing in Japan. Coincheck, the country’s local cryptocurrency exchange, launched a specialized NFT marketplace in March 2021. In July, Mai Fujimoto, dubbed Miss Bitcoin, partnered with the blockchain gaming ecosystem Enjin to launch an NFT charity campaign in Japan.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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