Rakuten, a Japanese online retailer, has launched the NFT Marketplace.


Rakuten, the Japanese online retailer, has been dabbling in the world of cryptocurrencies and blockchain solutions over the last few years. Rakuten launched a cryptocurrency exchange in the summer of 2019 and allowed customers to load cryptocurrency into their Rakuten Pay accounts in the spring of 2021. Rakuten has announced the launch of a new platform called Rakuten NFT, which is the company’s first foray into the NFT space.

“Rakuten NFT is a service that provides a marketplace for users to purchase NFTs, as well as peer-to-peer buying and selling of NFTs, in a range of areas such as sports and entertainment, including music and anime,” the press announcement explains. “It also features a unique, one-stop platform which enables IP holders to build their own website for issuing and selling NFTs. Rakuten ID can be used when making purchases, allowing users to earn and spend Rakuten Points. Any NFTs purchased can be added to a collection on the buyer’s own webpage, and can also be put up for sale in the marketplace and sold.”

Rakuten follows a number of businesses that have launched NFT marketplaces during the last 12 months. Companies like Coinbase, FTX, Crypto.com, and many others have launched marketplace platforms dedicated to non-fungible token (NFT) collectibles. Additionally, Rakuten NFT faces competition from leading NFT market platforms such as Opensea, Rarible, Looksrare, and Magic Eden. Rakuten’s press announcement notes that a minting and selling feature won’t be available until next year.

“A service for peer-to-peer issuing and selling of NFT content is planned for launch in 2023 or later, which will support IP holders in Japan and worldwide to issue NFTs, as well as spur further development of a global market for NFTs. Plans also call for the introduction of a diversity of additional payment methods,” Rakuten’s launch announcement discloses.

The Rakuten NFT launch featured NFTs showcasing Ultraman anime and Kurogane Hiroshi G1 Gekitoshi with work illustrated by the renowned manga artist Hiroshi Kurogane. In future NFT drops, Rakuten NFT will feature collectibles from TV Asahi Corporation shows, Under Beasty from Daiki Sound Co., and NFTs featuring characters from Tiger & Bunny 2.

“Rakuten NFT is also planning to produce and sell the J.League NFT Collection Players Anthem, the J.League official NFT collection,” the company’s NFT platform announcement concludes.