SoftBank Group Corp.’s Z Holdings Corp. division is targeting non-fungible tokens and its PayPay service to boost global presence, according to a report by Bloomberg on Thursday.

  • SoftBank combined with Line Corp. one of Asia’s popular social messaging apps, and Yahoo Japan in 2021 to form an e-commerce and social media giant to rival global tech leaders.
  • The enlarged firm, Z holdings seeks to launch an NFT marketplace in 180 countries this spring and spend huge sums of money to double its fintech unit PayPay’s users to 90 million.
  • Web3 has become a common term for the growing number of blockchain-based applications such as cryptocurrencies and exchanges, decentralized finance, and trading of NFTs.

Z Holdings, which generates a majority of its revenue via mobile ads and spending, is seeking to grow by setting aside a five-year budget of nearly 500 billion yen ($4.3 billion) for growth projects. SoftBank Group up +$3.11%