Report: Softbank’s Internet Firm Z Holdings Plans to Launch NFT Mall in 180 Countries

According to a Bloomberg interview, Softbank’s internet company Z Holdings intends to launch a NFT marketplace called “NFT Mall”, according to Kentaro Kawabe, the company’s coCEO. Last year, Z Holdings was formed from Line and Yahoo Japan. Kawabe stated in the interview that Z Holdings intends to leverage Web3, metaverse and NFT to boost the company’s growth.

Kawabe, co-chief executive officer at Z Holdings , stated that Web3 could bring a new world to life and that it’s possible Web3 might be the beginning of a new era. The co-CEO stated that he would not hesitate to make mergers and acquisitions to increase our presence.

Metaverse Wellspring Has Significant Competition

Z Holdings’ entry in the NFT space follows Rakuten , a Japanese online retailer that launched its NFT marketplace. Rakuten announced that the peer to peer service for selling and minting NFTs was planned for next year after the launch in February. Rarible and Looksrare are also competing in the NFT marketplace.

According to reports, Z Holdings has a budget for five years of growth initiatives at 500 billion yen (or $5.9 billion). Kawabe’s interview is similar to the statements Softbank CEO Junichi Miyakawa made in his 2022 New Years message. Miyakawa spoke about the metaverse in the New Year’s message and said that it will be a “wellspring that generates services and new business models”.

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