Rakuten launches online marketplace for NFTs

Japan’s very own Rakuten have announced the launch of their marketplace for users to purchase NFTs, as well as conduct peer-to-peer buying and selling of NFTs.

It doesn’t feel like much time passes before NFTs become the point of discussion again but here we are. Despite early doubts on whether or not NFTs would even stick, businesses are keen to launch their own services that facilitate the sale of them. In January GameStop announced they would be launching an NFT marketplace and for the recent Winter Olympic games Alibaba embraced the trend and launched limited non-fungible tokens to their paid customer-loyalty program customers.

Rakuten Sellers will be able to create their own sites and list NFTs from a range of areas such as sports and entertainment, including music and anime. Buyers log in with their Rakuten ID where they can earn and spend Points whilst purchasing non-fungible tokens. Then any NFTs purchased can be added to a collection on the buyer’s own webpage, and can also be put up for sale in the marketplace and sold.

Rakuten expect to have a peer-to-peer NFT selling service available around 2023 and will introduce a wide range of payment methods. According to the marketplace this will support IP holders in Japan and across the world to issue NFTs, as well as spur further development of a global market for NFTs.

Rakuten say they will continue to provide new and exciting entertainment experiences through Rakuten NFT, delivering greater levels of convenience and satisfaction to the widest possible range of users through its services.

So there we have it, another one joins the blockchain train… Who’s next?

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