Rakuten has decided to enter the NFT business in Japan with their own Rakuten NFT.
Rakuten provides a service in the form of a marketplace where users are able to purchase NFTs in various fields such as sports and entertainment in the form of music and animation. This one-stop marketplace allows users to buy and sell between individuals and IP holders. Rakuten plans to start offering Rakuten NFTs in the spring of 2022 which will enable them to publish and build sales sites on their unique platform. Users will be able to purchase NFTs issued by IP holders with Rakuten NFT and trade with each other.
Rakuten ID can be used for payments as Rakuten points will be able to be accumulated and used. Additionally, IP holders will be able to issue and distribute NFTs without having to develop their own technology. In addition, this platform can be linked with various other services that Rakuten operates where users can be rewarded with NFTs as prizes when users purchase products and meet usage conditions
NFT is a breakthrough technology in the digital content field because it can guarantee the uniqueness and rarity of digital data, and in recent years it has attracted attention in fields such as sports and entertainment as it has the potential to innovate the content industry.
Rakuten Group, Inc. is a leading global company that contributes to society by creating value through innovation and entrepreneurship.
In 2016, Rakuten opened their research and development organization, Rakuten Blockchain Lab which specializes in blockchain technology. In 2019, Rakuten Wallet provided physical trading services for crypto assets in Japan while Rakuten also has a brokerage subsidiary, Rakuten Securities. Their goal by entering the NFT market is to make the best use of the technology and democratize the NFT market in order to enable users to recognize the value of owning NFTs by altering the NFT market environment