New NFT platform is being launched by Yahoo in collaboration with Line . NFT, which is a new type of discovery, has the potential to change the existing business models. Anything with unique characteristics can be represented as NFT.
A Non-Fungible Token (NFT) is a unit of data stored on a digital ledger of Blockchain which certifies the unique characteristics of data stored. The NFT market is very diverse and can include anything like a photo, video, audio, or even a quotation as NFT. From cricket legend, Shoaib Akhtar launching his NFT, to tech giants, Yahoo and Line, partnering together to launch an NFT platform for online auction, the NFT market is growing rapidly.
New NFT Platform Goals
LVC, a subsidiary of Line for managing cryptocurrency, will work with Japanese tech company Yahoo for secondary trading of NFT. Yahoo is providing Auction services to its users since 1998 as a competitor of eBay. On the other side, Line has a wallet named Bitmax to facilitate the trading of NFTs. The user will be able to trade NFTs through Bitmax wallet on Yahoo auctions.
The first NFT is planned to be launched before the end of the year 2021 through this New NFT Platform. Both the companies have announced that they are looking forward to collaborating with other companies to share valuable content and expand the NFT market.
NFT has a lot of potential and people familiar with its value are taking interest in it. The involvement of these big institutions will encourage others to participate and take interest in it.