Japanese Retail Giant Rakuten Launches NFT Marketplace

Rakuten Launches NFT Marketplace

Rakuten marketplace will offer NFTs in various areas such as sports and entertainment, including music and anime. Furthermore, the platform will also feature a unique, one-stop platform that enables IP holders to build their website for issuing and selling NFTs. The firm also intends to provide peer-to-peer listing and sales in 2023 or later.

Rakuten’s first NFT drop occurred on February 25 and included digital assets from an anime called Ultraman and the horse-racing-themed comic Kurogane Hiroshi G1 Gekitoshi from the 2010 Series.

The firm had initially revealed its plans to launch a proprietary NFT marketplace last year amid the growing popularity of nonfungible tokens.

Rakuten Tapping the Crypto Mania

Rakuten has been dipping its feet into the crypto and blockchain space over the last few years. In 2019, Rakuten launched a cryptocurrency exchange. Two years later, the retailer allowed its customers to load crypto into their Rakuten Pay accounts.

Rakuten is a Japanese e-commerce retail platform that sells goods and services in books, fintech, cosmetics, digital content, and more, and offers buyers cashback for making purchases on the platform. The platform has earned over $232.7 billion in the fiscal year of 2021.