Rakuten NFT marketplace to support Ethereum payments

E-commerce giant Rakuten Group has announced that its NFT marketplace will accept crypto payments starting this autumn. 

Ethereum can be used through the MetaMask crypto wallet in primary sales of NFTs on the Rakuten NFT marketplace, the group announced on September 14. 

The company has plans to extend Ethereum payments to secondary distribution and peer-to-peer buying and selling of digital items in the future, with a view to expanding into the global market for NFTs held by IP holders in Japan and abroad from 2023 onwards. It is also planning to introduce payment methods for other crypto assets.

Rakuten NFT is a marketplace where NFTs in various fields such as sports, music and animation can be purchased and sold between individuals, and a platform service that enables IP (content) holders to build a one-stop NFT publishing and sales website. The service was launched in February. At present, the platform accepts registered credit cards and Rakuten points for payment.

In August 2016, Rakuten established Rakuten Blockchain Lab, a research and development organization specializing in blockchain technology, and has been providing goods trading services in crypto assets with Rakuten Wallet since August 2019.