Major Japanese e-commerce company Rakuten has announced the launch of a non-fungible token (NFT) trading platform called Rakuten NFT.

The company first announced its plans to launch a private NFT market in 2021 amid the growing popularity of non-fungible tokens around the world. The NFT market also has a platform that allows intellectual property owners to create their own websites to issue and sell NFTs, according to Rakuten.

Cointelegraph contacted the Rakuten team for more information on the development, and this story will be updated as more details become available.

With a population of over 126 million and a well-known pop culture that includes anime and manga, many believe that Japan has the potential to increase the use of blockchain assets as cryptocurrency holdings.

Related Topics: 26% of Crypto Investors in Japan Have Tried NFTs: Poll

In 2021, the global NFT ecosystem has undergone tremendous development. After a record increase in trading volume and proliferation, major players in various sectors have started trading NFTs.

As the value of the NFT market continues to rise, there is growing interest in these innovative assets in Japan. In March 2021, the country’s local cryptocurrency exchange Coincheck launched its NFT trading platform for the first time. In July, Mii Fujimoto, the first cryptocurrency evangelist known as “Miss Bitcoin”, teamed up with the Enjin blockchain gaming ecosystem to create an NFT charity program in Japan.

Source: CoinTelegraph