Cosplay: US$45-billion industry comes to the blockchain
The first anime I ever watched was Shadow Skill: The Movie. It was broadcast at about 3am on British TV some time in the mid-90s. I’d seen it advertised in the TV listings mag and set my VHS to record it, purely out of curiosity.
That initial viewing blew my mind. I’d never seen anything so cool. There was magic, fantasy, crazy battles and an epic, wild mess of a story.
And so began my obsession with anime.
What I love about anime is that when it’s done well, the characters stay with you. Maybe it’s the outrageous outfits, the mandatory melodrama or the blurring of lines between reality and fantasy, but when I watch a great anime, I get sucked into this alternative universe and start to imagine myself as the characters, living out their bizarre lives and escaping my own for a few moments. It’s engrossing.
Gau Ban from Shadow Skill, Trafalgar Law from One Piece, Ayanami Rei from Evangelion, Okarin from Steins;Gate… so many amazing characters and so many incredible stories.
So I dig anime and of course I try and get to Comic Cons and similar events in London — and that means I have often got to see some truly out-of-this-world cosplay costumes. I never took the leap myself to cosplay, but I love checking out cosplay parades and appreciating the huge amount of effort that goes into bringing many of my favourite characters to life, not just from anime, but also film, TV, videogames and more. You never know what you might discover at Comic Con.
You also never know what you might discover in crypto. Cosplay on the blockchain? Is that actually a thing? It turns out it is indeed a thing and it’s actually really cool. So cool in fact that we are hosting the world’s first cosplay token sale on QRYPTOS. But before we get to that, a little background.
The US$45-billion industry
Can cosplay really be a $45-billion industry? That’s more than the GDPs of half the world’s countries. It seems implausible, so I asked our partners from Cure WorldCosplay and they highlighted a section of their whitepaper for me:
According to China Research and Intelligence (CRI),the estimated amount spent on costumes and wigs in 2017 was US$17.8 billion USD. However, this amount is expected to be far greater when you consider the additional costs involved, such as event tickets, photography fees, travel and accommodation, plus many other expenses. On top of this, according to Eventbrite, 59% of attendees will spend a further $100-$500 on merchandise at events, with 10% spending over $500 per show. Although the cosplay market is yet to be specifically quantified, it is approximately worth US$25–50 billion dollars, and is continuing to rise steadily. But we believe the potential market could be far greater.
So however much the industry is actually worth, it’s enormous and in the tens of billions, maybe even bigger. But is it an industry that could do with a blockchain solution? Initially I struggled to imagine the use case here, but then after reading the Cosplay Token whitepaper, it started to make sense.
Cure WorldCosplay manages a massive cosplay community of about 720,000 members who have shared something like 6.5 million images between them on the world’s largest cosplay platform. Photographers, props makers, costume designers, cosplayers and fans come together to share their passion and contribute. But there are issues within the community. It costs a lot of time and money to do cosplay and participation is rarely rewarded.
The Cosplay Tokens provides a means through which community members can send and receive transactions, pay for services, protect copyright and also access revenue sharing. Anyone on the platform can receive tips from their fans and cosplayers can even create their own customised COT token.
All of this is geared towards rewarding cosplayers for their efforts.
There are five major challenges in the cosplay ecosystem that the COT token addresses:
Sharing of content revenue — Allocating smart contracts for better revenue management. No copyright issues or revenue sharing hiccups.
Access to settlement accounts — No need for additional settlement accounts or bank accounts. Quicker fund access.
Transparency and trust — Better identification, evaluation and safe exposure.
Value actualization — Receive evaluation by users and perfect your craft. Valuable market insights that actually garner praise.
Globalization of information — No loss in translation and a true globalized sharing platform for all arts. Better global structure of art-sharing.
The Cosplay Token is putting the power back in the cosplayers’ hands. Payments, tips, incentives and reputations are all features of the platform powered by blockchain technology.
When you think about the sheer size of the growing community and the amount of utility this token is going to have on the platform, the prospect of the COT token sale becomes really interesting.
Normally in crypto you get projects with advisors. Cure WorldCosplay have advisors, of course, but they also have ambassadors who are themselves famous cosplayers. The combined social reach of these personalities is huge. Across Instagram, Twitter, Facebook and various other social networks, their audiences are in the millions — and they’re all supporting the Cosplay Token sale.
The ambassadors are already part of the community and the platform. They will be using the Cosplay Token in themselves. The utility of the token is immense.
The team and advisors are also solid and I recommend you do a bit of research into the people behind this project and the potential impact it’s going to have on this behemoth of an industry.
What’s in it for the investor? Obviously you can participate in activities on the platform, but beyond that, if the platform grows as intended and increasing numbers of cosplayers start to use it to get compensated for their efforts, there’s likely to be a natural demand for the token. That can only be a good thing for all involved.
We have both the private sale and the ICO for the Cosplay Token on QRYPTOS. I haven’t been this excited about an ICO we’ve hosted since we did the QASH token sale. I know a lot of people will initially scoff at the idea of a cosplay use case, but give it a chance and you might just discover a little gem.
Doing my own research into the project reignited my passion for anime and brought back fond memories of Comic Con. I love it when crypto goes slightly offbeat and into new territory like this.
I also got to enjoy this photos of when my colleagues went to the Cosplay Token office: