Otaku Coin is the new cryptocurrency that is planning to make a name for itself in a niche market, as was the case with Dogecoin (DOGE) a few years back. Developed by Otaku Mode, the ERC20 token is to be used in the Japanese content industry, in the area of anime.
Otaku Mode owns an online store that sells collectibles and novelty items related to manga, anime and a number of video games. The cryptocurrency is to be used to connect fans of the anime industry with their favorite creators as well as relevant organizations.
The idea around Otaku Coin is to let people earn on doing things they like, such as watching anime, sharing content and reviewing the said content. Holders will be able to use the tokens for other things such as shopping, supporting content producers and merchandise manufacturers. There is also talk of the token becoming the default cryptocurrency of the Japanese pop culture. According to Chief Executive Officer, Naomitsu Kodaka there is a huge market in Japan’s pop culture industry, waiting to be tapped by cryptocurrencies.
“When you think about how cryptocurrencies can spread, I think it won’t be on a countrywide scale…it will be on more of a community-wide scale,” said Kodaka. “I think it is worthwhile to have an Otaku Coin that anime, manga and game fans can use. There can also be, for instance, a Sake Coin for sake lovers.”
Otaku Coin Release & Distribution
The otaku coin is slated for release sometime in the summer. The coin is to be listed on cryptocurrency exchanges where people will be able to purchase them. The company is to issue 5 billion Otaku Coins as the first batch, from a planned 100 billion coins. The coins are to be distributed through an initial coin offering. Some users will receive the coins for free. However, it is unclear the total number of people who will receive the tokens free.
Otaku Mode is very popular in social media. It will be interesting to see if it will leverage its popularity to market Otaku Coins upon unveiling.
Disclaimer: Nothing in this article should be construed as financial advice in any way, nor as an encouragement to engage in cryptocurrency trading activity. This article was not sponsored by any entities or companies mentioned in the article. The only purpose of this article is to inform/educate on the topics discussed in the article.
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