LINE Next

About LINE Next

LINE NEXT operates as the dedicated Web3 and non-fungible token (NFT) subsidiary of the technology giant LINE Corporation. Established on November 30, 2021, the company is structured with dual headquarters: LINE NEXT Inc. in the United States, which handles the development and operation of its platform, and LINE NEXT Corporation in South Korea, which focuses on global strategy and planning. The venture is led by CEO Youngsu Ko, who previously served as Chief Product Officer for LINE App Products, bringing extensive experience in global service development to the Web3 space.

The core of LINE NEXT's business is its global NFT platform, DOSI, a name derived from the Korean word for "city." DOSI is designed as an all-in-one hub that supports companies and creators in building their own brand stores, operating membership programs, and fostering communities around NFTs. The platform facilitates the buying and trading of digital items for a broad user base across 180 countries. To make NFTs more accessible, DOSI Wallet supports a variety of payment methods including credit cards, mobile payments like LINE Pay and Naver Pay, and cryptocurrencies such as Ethereum and LINE's own crypto asset, LINK. The business model centers on providing the infrastructure for NFT issuance and trading, likely generating revenue through transaction fees on its marketplace.

LINE NEXT is backed by significant investment, including a $140 million funding round in late 2023 led by Crescendo Equity Partners, a firm backed by Peter Thiel. This capital is aimed at expanding its global footprint and developing new services to popularize the Web3 ecosystem. The company plans to integrate its Japanese NFT marketplace, LINE NFT, with the global DOSI platform and launch new offerings, including a social app using AI-generated characters and Web3 games featuring popular BROWN & FRIENDS characters. These services are being built on the Finschia public blockchain, with LINE NEXT participating in its governance to help expand the ecosystem.