The Web3 division of the instant messaging app Line, LineNext, has completed a $140 million financing round, led by Crescendo Equity Partners

ChainCatcher news, LineNext, the Web3 division of the Japanese messaging app Line, has completed a $140 million financing round, led by Crescendo Equity Partners, a South Korean private equity firm backed by Peter Thiel. The funds will be used to expand its Web3 platform.

Before the new round of financing, LineNext launched a browser-only beta service on its NFT platform DOSI—a consumer-to-consumer (C2C) marketplace. Woosuk Kim, the head of LineNext, stated, "So far, LineNext has focused on assessing the potential of various Web 3 services, such as NFT platforms, avatar features, games, and entertainment."