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Report: Softbank's Internet Firm Z Holdings plans to launch NFT Malls in 180 Countries

Z Holdings, an internet subsidiary of Japanese conglomerate Softbank, plans to launch a global marketplace for non-fungible tokens (NFTs) this spring. 

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Report: Softbank's Internet Firm Z Holdings plans to launch NFT Malls in 180 Countries

Z Holdings' NFT Mall aims to reach 180 countries and leverage its Paypay service to attract Web3, metaverse and NFT patrons.

Z Holdings doesn't want to miss out on huge growth opportunities

According to a Bloomberg interview, Softbank's internet company Z Holdings intends to launch a NFT marketplace called "NFT Mall." This is 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.

"It's possible Web3 could herald an entirely new world and we don't wish the company to lose out on the huge growth opportunity," Kawabe (co-chief executive officer Z Holdings ) stated during the interview. The co-CEO stated that they will not hesitate to make merger and acquisition deals in order 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 for new services and business models."


 

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