Z Holdings plans to launch NFT marketplace along with expanding Global presence
Z Holdings Corp., owned by SoftBank Group Corp., has planned to enter the NFT world along with increasing its global presence by aggressively investing through its PayPay service.
Z Holdings enters the NFT world
This Spring, Z Holdings is bringing an NFT marketplace for users from over 180 nations. As per the company’s top executive, it is also spending a heavy amount of money to increase its fintech unit PayPay’s position in the global market, aiming to reach 90 million users. PayPay, a smartphone payment service provider which is built in partnership with Indian digital payment company Paytm, is expected to act as a growth pillar for Z Holdings.Z Holdings, which gets the most of its revenue via mobile ads and spending, is determined to grow by drawing a five-year budget of around 500 billion yen ($4.3 billion) for expansion initiatives. As word of the announcement spread, the company's stock jumped 7.8% in Tokyo on Thursday, the largest intraday gain since November.
Z Holdings’ growing interest in Web3
Web3, which has been in the headlines due to celebrity support, has become a common term for a growing list of blockchain-based implementations like crypto tokens and exchanges, DeFi, and NFT trading. Z Holdings seems to have keen support in Web 3 as its co-chief executive officer, Kentaro Kawabe said in an interview:“It’s possible Web3 will herald a world where life is completely different and we don’t want the company to miss out on the huge growth opportunity. We won’t hesitate to do merger and acquisition deals to boost our presence.”Following Rakuten Group Inc.'s February launch of an NFT marketplace centered on music and anime content, the business will be one of the early adopters of NFT trading in Japan. Recently, Venture Capital giant Animoca Brands, which is a Web3 investor and content developer, hinted at its plans to enter the Japanese market with its NFT business in April and build a local office.
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