Activity Report Vol.7: Otaku Coin’s Media Exposure on ASCII

Thank you very much for taking the time to read more about our Otaku Coin project.

Last week, an interview about our Otaku Coin project was featured on ASCII, a major Japanese technology news site. We have translated parts of the interview and would like to share them with you in this activity report. A link to the original Japanese transcript is included below for those who wish to read the entire interview.

The purpose of Otaku Coin, a cryptocurrency that allows fans to participate in and support anime production

“The Otaku Coin project emerged from the sense of impending crisis that currently exists in the otaku industry.

We (ASCII) visited Tokyo Otaku Mode and spoke to co-founder/COO Hajime Ataka about the Otaku Coin project.

Hajime Ataka, co-founder and COO of Tokyo Otaku Mode

— Will the circulation of Otaku Coins contribute to the preservation and development of otaku culture?

Hajime Ataka (HA): Yes. In fact, the Otaku Coin project emerged from the sense of impending crisis that currently exists in the otaku industry. Due to various reasons, including the declining birth rate in Japan, Japanese anime, manga, and games are in danger of falling into a steady decline. Even the “Anime Industry Report 2017” published by the Association of Japanese Animations shows that although content monetization overseas has been growing in recent years, the potential has yet to be maximized. Although Japanese anime and games are popular overseas, money isn’t coming in from the countries that are consuming the content. The Japanese market is still keeping the anime industry together through existing methods, but we want to establish a way, an ecosystem overseas, that can solve the industry’s problem of unbalance between the popularity and monetization of content. We want to do this because it will push forward the creation of new content in the future.”

The purpose of the Otaku Coin project is to contribute to the preservation and development of otaku culture. With the project, we aim to establish a structure through which Japanese fans and those around the world can come together and offer both direct and indirect support toward upcoming content.

— The Otaku Coin diagram shows coins being used to support creators. Can you give us more details? 
HA: We are exploring the possibility of allowing fans to send Otaku Coins to creators through our service. Fans can find out which creators are involved in series they enjoy by visiting anime database websites, and if they decide to offer the creators support, they can use Otaku Coins to do so.

HA: Also, if creators hold on to the Otaku Coins they received, any increase in coin value will also serve as a form of direct support. For example, if the worth of one coin jumps from 100 yen to 10,000 yen, the amount of support offered through that one coin changes. In order to increase the value of Otaku Coin, we need to increase the number of users who have them and the number of transactions made with them. This will increase the confidence others have in Otaku Coin, which will increase its value. I believe the entire otaku industry can work to increase the number of places and ways Otaku Coins can be used.

We believe there are still many different ways in which fans can offer direct support to creators. Please share your ideas with us in our Facebook group!

— Based on the information provided, the Otaku Coin ICO is scheduled to be announced this summer.

HA: We aim to determine whether or not we will be creating a cryptocurrency and whether or not we will be launching an ICO between this spring and summer.

We will post updates on this blog once they become available.
If you would like to contact us, please join our Facebook group or offer your feedback through Telegram.

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