We have seen quite a few cryptocurrencies being created to fill specific needs. In some cases, these “niche coins” can be quite successful in the long run. Dogecoin is a perfect example of how success can be achieved sooner or later. Whether or not Otaku Coin will see similar success remains to be determined. The decision to issue this token through an ICO will always be controversial, but the currency seems to be targeting an interesting market.
Tokyo Otaku Mode’s Latest Creation
In most cases, new ERC20 tokens are created by teams of people who want to raise a lot of money. This money will then be used to fund the development of their projects, which may or may not come to market in the end. There are plenty of risks associated with such tokens, especially since they aren’t always created by reputable individuals. Otaku Coin is different in this regard, as it is a project designed by Tokyo Otaku Mode. The company has over 20 million fans worldwide, which gives this project a bit more allure from day one.
The goal of this new ERC20 token is to be used within the Japanese content industry in the area of anime. Most anime enthusiasts will know the term otaku by now, and thus it makes sense to create a dedicated currency for this specific market. The new cryptocurrency will be distributed through an initial coin offering, which is set to take place at some point this summer. Targeting this specific industry will not be easy, although the concept opens up a lot of new opportunities.
Otaku Coin will primarily be used to connect fans of the anime industry with creators and relevant organizations. It may even become the default currency for Japanese pop culture, although that goal may be a bit too ambitious. It is certainly true that a lot of people all over the world have fallen in love with anime, manga, and Japanese games. There is a huge market waiting to be tapped, and cryptocurrency could make a big impact in this regard.
Considering that this venture is backed by Tokyo Otaku Mode and its advisers, it will be interesting to see how things play out. This particular company is quite popular on social media, and its Tokyo Otaku Mode Shop is a very popular destination. Its focus is on news and products associated with Japanese pop culture. Moreover, it delivers original merchandise to over 130 countries worldwide. In a perfect future, Otaku Coin will be used to directly support anime production.
The goal is to let people earn Otaku Coins by doing the things they already like. This includes watching anime, sharing content, and reviewing said content. Once a user gets their hands on some coins, they can then spend them on shopping, events, supporting content producers and merchandise manufacturers, and supporting creators directly. It makes a lot of sense on paper, but pulling off something like this may be a bit more difficult than originally assumed.
It is evident this project is not just another money grab, in contrast to some other ICO projects we’ve seen in recent months. While the objective of Otaku Coin may sound simple, there will be plenty of challenges to be tackled before it can become a reality. Otaku Coin certainly sounds like something a lot of people will show an interest in moving forward. Anyone who has any love for anime, manga or Japanese pop culture may want to pay attention to this project in the coming months. Always do your own research, though.