LY Company denied that its Web3 enterprise, Line Subsequent, had entered right into a enterprise partnership with Soneium, a Sony-backed Ethereum layer-2 community.
The assertion, issued on March 28, adopted media reviews and social media protection that steered a partnership had been finalized between LY and Soneium.
“These reviews had been primarily based on an announcement made by Soneium on [March 12] that it plans to increase its enterprise by utilizing the LINE API and LINE Mini Apps on our platform, though no enterprise partnership or the like has been established between Soneium and LY Company,” LY mentioned.
In response, a Soneium spokesperson instructed Cointelegraph: “Our March 12 announcement refers to a collaboration, which includes exploring the mixing of onchain Mini Apps inside the Line ecosystem. We stand by the accuracy of all content material revealed in our official assertion.
“LY Company has additionally directed readers to our announcement for context and clarification. Moreover, Soneium acquired permission to reference Line in that announcement, and the Kaia Mini App is just not unique to any single supplier,” the spokesperson added.
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Japanese tech titans and their blockchain ventures
LY Company is a Japanese tech large shaped by the merger of a number of main entities, together with Line — Japan’s largest messaging platform — and Yahoo Japan. The 2023 merger additionally introduced Line’s Web3 arm, Line Subsequent, underneath the LY umbrella.
Line Subsequent was established in late 2021 and raised $140 million in December 2023 from a consortium led by Crescendo Fairness Companions. In January, it launched “Mini Dapps,” which provide video games and social content material inside the LINE messenger — echoing the recognition of Telegram’s Mini Apps, which soared in recognition by tap-to-earn video games and airdrops.
Line’s Mini Dapps are powered by Kaia, a layer-1 blockchain shaped by merging Line’s Finschia chain with Kakao’s Klaytn community. On March 6, Line introduced that its Mini Dapps had surpassed 35 million customers.
The highest Mini Dapp generated $773,000 throughout the launch month on Line. Supply: Line Company
Like Line Subsequent, Soneium is backed by a Japanese tech heavyweight, on this case, Sony. Developed by Sony Block Options Labs, Soneium launched its mainnet in January with options corresponding to NFTs tied to Amazon Prime Video content material.
Soneium faucets into the worldwide energy of Japanese anime
On March 28, Soneium introduced a separate partnership with Animoca Manufacturers to advertise anime tradition in Web3.
By means of the partnership, Animoca’s digital id platform, Moca Community, will create a decentralized id layer on Soneium, beginning with Anime ID, a reputation-based identifier for anime followers. The transfer comes amid surging world curiosity in anime content material. In a 2024 media interview, Rahul Purini, president of anime streaming app Crunchyroll, mentioned the platform’s analysis discovered 800 million individuals exterior of China and Japan — the place Crunchyroll’s library and entry are restricted — watch anime content material. Journal: Bitcoiner intercourse entice extortion? BTS agency’s blockchain catastrophe: Asia Specific