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

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

Z Holdings, the internet subsidiary of the Japanese conglomerate holding company Softbank, is planning to launch a global non-fungible token (NFT) marketplace this spring. Z Holdings’ “NFT Mall” aims to target 180 countries and leverage the firm’s Paypay service in order to attract Web3, metaverse, and NFT patrons. Z Holdings Doesn’t Want to ‘Miss out on Huge Growth Opportunity’

Softbank’s internet firm Z Holdings plans to launch an NFT marketplace called “NFT Mall,” according to a Bloomberg interview with the company’s co-CEO Kentaro Kawabe. The firm’s parent company merged Line and Yahoo Japan into Z Holdings last year. Kawabe’s statements from the interview indicate that Z Holdings plans to leverage Web3, metaverse, and NFT in order to bolster the company’s growth.

“It’s possible Web3 will herald a world where life is completely different and we don’t want the company to miss out on the huge growth opportunity,” Kawabe, the co-chief executive officer of Z Holdings stated during the interview. “We won’t hesitate to do merger and acquisition deals to boost our presence,” the co-CEO added. Metaverse Wellspring Has Significant Competition

Z Holdings’ entry into the NFT space follows the Japanese online retail giant Rakuten launching its NFT marketplace. After the launch at the end of February, Rakuten detailed that the peer-to-peer service for minting and selling NFTs is planned to be released next year. There’s also a slew of NFT marketplace competition from Opensea, Rarible, Looksrare, Magic Eden, Coinbase, FTX, and Crypto.com.

Reports note that Z Holdings has a five-year growth initiatives budget of 500 billion yen or $5.9 billion. Furthermore, Kawabe’s interview resembles the statements Softbank president and CEO Junichi Miyakawa made during his 2022 New Year’s message. In the New Year’s message, Miyakawa talked about the metaverse and insisted the concept will become a “wellspring that generates new services and business models.” Tags in this story 180 Countries, Coinbase, Crypto.com, ftx, interview, Japan, Japanese Firm, Junichi Miyakawa, Kentaro Kawabe, Line, looksrare, Magic Eden, Metaverse, nft, NFT Mall, NFT Marketplaces, NFTs, Non-fungible Token, Opensea, Rarible, Softbank, softbank crypto, Softbank NFT Market, Softbank NFTs, statements, Web3, Yahoo Japan, Z Holdings

What do you think about Z Holdings launching an NFT marketplace called the NFT Mall in 180 countries worldwide? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Warner Bros. to Launch Hybrid Physical and Digital DC Comics-Themed NFT Trading Cards NEWS | 2 hours ago Mega Awakening — Whale Transfers 429 "Sleeping Bitcoin" From 2010 Worth Over $16.8 Million NEWS | 6 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBitoftrade: A New Anonymous Exchange to Leverage the Power of Crypto Trading Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItVenezuela Might Be Affected by Russian Banks" SWIFT Suspension

Analysts from Venezuela have expressed their worries about the expulsion of a number of Russian banks from SWIFT, an international messaging system that allows the interconnection of banks. These measures could affect the finances not only of Venezuela, but also ... read more.Starlink Terminals Arrive in Ukraine as Elon Musk Makes Good on Promise EU Data Act Proposes Shutdown Function for Smart Contracts Leaked Images Suggest Opensea Plans to Add Solana-Based NFT Support UK Regulator Bans Floki Inu Ad for Being Irresponsible, Exploiting Investor FOMO