Rakuten, Japanese Retail Giant Brings New Market to Buy, Sell NFTs

Japanese electronic commerce and online retailing company Rakuten has launched a new online marketplace dedicated exclusively to the sale of non-fungible tokens (NFTs). The Tokyo-headquartered company plans to update the “Rakuten NFT” marketplace with peer-to-peer minting services in the coming future. This marketplace will support NFTs inspired by sports, music, entertainment and anime. The company is looking to develop a Rakuten NFT art gallery to showcase a selection of virtual artworks in the coming days.

The platform will allow Rakuten IP users to build their own websites to sell NFTs.

“Any NFTs purchased may be added to the collection on the buyer’s own webpage, and may also be placed and sold for sale in the market,” the company said. Press release,

The Ultraman anime-inspired NFT and horse racing-themed comic Kurogene Hiroshi G1 Gekitoshi (2010 series) were chosen as the first pieces to be made available on Rakuten NFT. Among them are also illustrations by famous manga artist Hiroshi Kurogane.

“There are plans for NFT Featuring rare footage including famous scenes from the TV Asahi show and NFT trading cards from the rock idol group Under Beastie,” the company said. “NFT artwork by contemporary artists from the Art Powers Japan Association and popular anime from Banda Namco Pictures, featuring NFT artwork and characters from Tiger and Bunny 2, is also planned.”

The sale of Rakuten NFT Art Gallery is expected to begin in May or later this year.

NFTs are digital collectibles built on blockchain technology. From music chunks to video and game characters, NFTs can be inspired by anything and everything.

According to reports, NFT sales volume across $25 billion (about Rs 1,84,700 crore) in 2021.

open sea Currently claims to be the world’s largest NFT market.

In January this year, a new NFT marketplace named looks rare made his debut. With NFT-owning becoming a trend among crypto holders and celebrities, platforms such as New York Stock Exchange Have applied to serve as NFT Marketplace in future.

Last week, the world’s first nft vending machine was founded in New York City that allows non-crypto holders to purchase digital collectibles via their debit and credit cards.

Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, business advice or any kind of advice or recommendation given or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.

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