Line Subsequent has introduced a $140 million strategic funding from native non-public fairness firm Crescendo Fairness Companions, which shall be used to speed up the expansion of its DOSI blockchain social and gaming platform in 2024.
The US-based blockchain arm of South Korean social community Line, Line Next has been engaged on a beta browser-based model of DOSI throughout 2023 and is now prepared for the official launch of the cell app in January, which shall be built-in with the prevailing Line NFT market in Japan and different current providers similar to DOSI Citizen.
Different deliberate merchandise embrace an AI-based social app that may use the platform’s avatars, and new video games utilizing the favored Brown & Buddies IP. The Game Dosi platform at the moment solely lists 4 titles. Nevertheless, sooner or later, Line Subsequent hopes that builders of web2 video games can even combine the platform, giving them the flexibility to promote non-blockchain belongings and currencies, alongside NFTs.
As a part of the funding, Crescendo will turn into a governance member of Line Subsequent’s Finschia blockchain, which is what DOSI is deployed on.
To-date, Line Subsequent claims round 5.5 million DOSI customers and over 20 million NFTs distributed.
“Line’s world competitiveness and its imaginative and prescient to guide Web3 providers had been the funding thesis,” stated Kevin Lee, the managing associate of Crescendo. “We hope to construct an ordinary for web3 apps that basic customers can simply use and undertake blockchain to all types of providers and types of web2.”