Rakuten launches NFT marketplace

For the past couple of years, Rakuten has explored the possibilities of Non-Fungible Tokens (NFTs), cryptocurrencies, and blockchain solutions, launching a crypto exchange in 2019. In Spring 2021, the company integrated crypto payments in its Rakuten Pay app, providing customers with alternative payment methods and promoting digital payments. 

The new Rakuten NFT marketplace will allow users to not only purchase NFTs but also sell them in a range of areas, including music, sports, entertainment, and anime. The company’s in-house identity verification system, Rakuten ID will be used to make NFT purchases, which will further allow customers to redeem and use loyalty points.