Z Holdings Corp. of SoftBank Group Corp. plans to dive into NFT marketplaces in 180 countries by this year. This will be part of the company’s goal to expand its global business. This move also includes increasing the number of users of fintech unit PayPay to 90 million.
NFTs: huge opportunity for growth
Z Holdings hopes to develop by leveraging a five-year financial plan of approximately 500 billion yen ($4.3 billion). The company makes most of its earrings from mobile advertising and spending.
Web 3.0 has the potential to lead a world that offers a very different life. We will not miss this huge opportunity for growth, said Kentaro Kawabe, president of SoftBank Group Corp
Kawabe also said they hope to make a profitable business in the coming years.
According to reports, Z Holding’s share prices rose by more than 7%. That is the company’s highest intraday profit since November. Last year, SoftBank Line Corp. merged with Yahoo Japan l in an effort to create an e-commerce and social media giant.
Web3 has proven to be the evolution of the internet backed by cryptocurrencies exchanges, decentralized finance and NFTs. This move will make the company one of the early adopters of NFT trading in the country. Japan’s other electronic trading company, Rakuten Group, launched the NFT market in February focused on music and anime content.
Jan 2022 NFT sales exceed $1 billion
The NFTs were one of the most searched topics of 2021. NFT transactions recorded a jump of more than 20,000% in the past year than in 2020. Sales of the digital assets last year totaled $17.6 billion.
According to Nonfungible.com’s research, more than 2.5 million crypto wallets traded NFTs in 2021. More than 470 wallets have made profits of more than $1 million from the sale of NFTs. While the market has generated a total of $5.4 billion in profit for the investors. In January 2022, NFT sales crossed the $1 billion mark. However, in the first week of March, it had revenue of $168 million.
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About the author
Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he’s not writing, he plays video games, watches a thriller, or works out outside. Reach me at [email protected]
This post Softbank’s Z Holdings (Mcap-$25 Billion) Aims to Invest in NFT Marketplace
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