The Japanese NFT Marketplaces to Watch

Do you know which are the Japanese NFT marketplaces to watch? Around the world entrepreneurs, artists, and technophiles alike are paying attention to non-fungible tokens (NFTS): the latest application of blockchain tech. Genies is one of many future-facing companies that has invested in publishing artistic NFTs. With Genies’ new base of operations in Japan, one area that we are following with particular interest is Japanese NFT marketplaces. Japan’s reputation for technological innovation means it would be foolish to overlook Japanese developments in the field of crypto art.

The Rise of NFTs in Japan

There are a number of Japanese NFT platforms that are springing up to capitalize on this new application of blockchain technology. 

Japanese Exchange Coincheck to list NFTs

Coincheck is an NFT marketplace now, and has caught the attention of millions by listing NFTs for multiple games. Coincheck is expanding its reach by collaborating with Chiliz and Socios, the fan token makers for sports and entertainment properties such as FC Barcelona and Juventus. The Chiliz and Socios user base will be rewarded for their fan tokens with NFTs.

Gamified NFT Marketplace Inspired by Japanese Culture

Doki Doki Finance is also creating an NFT marketplace themed around Gachapon vending machines. Their service is called DeGacha. Players will pay a flat fee to receive a randomized digital collectible or NFT, combining elements of decentralized finance with NFT collecting. The artists set the price of ‘playing’ the Gacha machine, but they can customize the rarity of each NFT, essentially creating artificial scarcity. This is the same system as is commonly used with CCGs, baseball cards, or other collectibles. Because the combination of chance and user-controlled expenditure is similar to gambling, this platform is being monitored by Japanese authorities.

Genies looks forward to bringing highly desirable themed NFTs to Japanese sports and entertainment fans, as it has done for fans of Fenerbahce soccer player Mesut Ozil and pop star Shawn Mendes.