Cryptocurrency “Otaku Coin” to Launch This Summer or Fall

Last May 9, the Otaku Coin Preparation Committee (OCPC) released a concept paper for its cryptocurrency Otaku Coin. The coin is slated to be issued this summer or fall with a voting platform scheduled for 2019.

The committee plans to release around 100 billion otaku coins and a specialty wallet at the same time. The concept of this cryptocurrency is proposed initially last December by Tokyo Otaku Mode, a popular Japanese hobby and shopping website. Both TOM and OCPC will work separately and will launch the tentative titled Otaku Coin Fund which functions as a “even more thoroughly decentralized organization” before launching it.

They said that its issuance is not an initial coin offering (ICO) which means they will not directly sell Otaku Coin at launch to raise funds. 61% of these issued coins will be “used for funding projects which will contribute to the development of otaku culture.” The remaining 39% will be given to the Otaku Coin Fund’s operative expenses (which covers the marketing, software development, personnel, activity costs, and so on.)

The concept paper revealed that the purposes for Otaku Coin are to allow anime fans to vote or fund projects, implement a reward system for “otaku activities” like purchasing legit products and watching anime, and best of all—removes fall foreign currency conversion fees.

Through the voting platform, those who have Otaku Coins will also be given voting tokens to fund projects. Other possible project including the follow: supporting otaku (and the related) content creators, funding anime productions, and expanding or creating otaku events and shops.

Source: Anime News Network