Z Holdings, an internet subsidiary of the holding company Softbank is planning to launch NFT mall this year. The term ‘mall’ refers to a marketplace that will be available in 180 countries and boost the adoption of NFTs. At the same time, they plan to work with Web3, Metaverse, and NFT sponsors. The company is entering this space due to the enormous growth opportunity in the NFT and Web3 industry.
Z Holdings to launch NFT Mall
In a Bloomberg interview, the company’s co-CEO confirmed that they are planning to call their NFT marketplace the ‘NFT mall.’ This was important because the term Mall generally sounds like something physical. Whatever the case is, the main reason for venturing into NFTs is the growth opportunities that come with it. The CEO of Z Holdings said that it is possible Web3 could change the world where life is completely different, and they want to miss out on that. He also confirmed that Z Holdings is open to mergers and acquisitions to boost its presence.
It will be interesting to see how their NFT mall stack up against other prominent players in the industry. One such company is Rakuten, an online retail company from Japan that also launched its NFT marketplace recently. They also have a peer-to-peer service for minting and selling NFTs. Some other well-established players in the space are OpenSea, Coinbase, FTX, Rarible, among others.
About Z Holdings
A Holdings, a company controlled by SoftBank Group and Naver Corporation, owns Z Holdings, a Tokyo-based holding firm. It owns Yahoo Japan, the largest portal website in Japan, Line, the largest messaging app in Japan, and PayPay, the largest mobile payment service in Japan. Z Holdings had a $43 billion market capitalization after merging Yahoo! Japan with Line Corporation in March 2021.
The company was founded in January 1996 as Yahoo Japan Corporation, but owing to a company split on October 1, 2019, it changed its corporate name and became a holding company.
What are your thoughts as Softbank subsidiary Z Holdings plans to launch an NFT Mall this year? And do you think they will be able to leave a mark in the industry? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.