E-commerce Platform Rakuten to Release NFTs and Marketplace

E-commerce Platform Rakuten to Release NFTs and Marketplace

The Japan-based online retailing company, known for sponsoring the FC Barcelona soccer team, has announced the launch of a new NFT project.

Even though Rakuten already made its NFT website available, it may be restricted for some regions. Either way, the project will feature NFTs from various sports, movies, music artists, and Japanese anime characters.

According to the official post, Rakuten will offer a built-in marketplace where users can purchase and sell NFTs via a P2P system, while owners of Rakuten IDs will earn points by earning and spending on the platform.

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Not only that, artists and visual art creators will be able to build their own websites where they can post NFTs and sell them off for the desired price. However, the release of such a platform, according to the announcement, will be sometime in 2023 at best.

While the NFT platform will probably not be fully functional for a while, Rakuten has already launched its first non-fungible token collection, featuring assets from popular anime series. 

Even more so, Rakuten plans to release NFTs that feature "rare footage" from TV shows, NFT trading cards, music NFTs, that will possibly carry streaming royalties, collectibles with cultural value, and many more. 

Likewise, being a soccer-focused sponsor, Rakuten will be issuing NFTs for the J1 Soccer League, which will be featured on Rakuten’s NFT Art Gallery. The gallery is expected to be launched no earlier than May 2022.

Dom Z. - Crypto Analyst

by Dom Z. - Crypto Analyst, BitDegree


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