Creative Frontier Launches 'Anicoin' ICO to Fund Anime Production
posted on by Jennifer Sherman
Tokyo-based contents company Creative Frontier announced on Monday that it will launch token sales for its initial coin offering (ICO) called "Anicoin" in February. The company plans to use the funds raised to produce visual novel PC game and anime film adaptations of its Idol Connect -Asterisk Live- smartphone game, as well as virtual YouTuber and anime projects for its tentatively titled "Indoor With Diva" project.
The company cited problems with the anime and game industry's production committee system for funding works. Creative Frontier stated that developers and studios typically have weak positions and earn small profits compared to the major investors who make up the production committees.
If the projects are funded, the company plans to sell DVDs and offer licenses to streaming services, and then use the profits to burn Anicoin, decreasing the amount on the market and increasing its value. The company stated that possible uses for Anicoin include the ability to purchase limited-edition merchandise, preferential tickets for events, voting for characters, and directly funding creators.
The Idol Connect -Asterisk Live- visual novel is planned for release in Japanese, English, and Chinese.
Creative Frontier launched the original Idol Connect -Asterisk Live- smartphone game in August 2016 and ended service soon after in November 2016. In the game's story, virtual reality is widespread, allowing anyone to become an idol and perform for people around the world. The player, who manages a small idol agency, works to turn nine ordinary girls into global stars.
Though the smartphone game ended service, the project has released several music CDs, the most recent of which shipped last August. A live concert event for 150 people who purchased the theme song CD was held in Akihabara, Tokyo in September. The company is also publishing original stories online.
Creative Frontier bills Anicoin as the world's first cryptocurrency for anime contents. Tokyo Otaku Mode announced last month that it was considering launching an ICO for a cryptocurrency called "Otaku Coin," which it similarly outlined as an alternative to the production committee.
The Japanese cryptocurrency exchange Coincheck recently suffered a major theft of the equivalent of US$530 million due to hackers. The Japanese government is now supervising the company's response to the hack, and the company stated that it will compensate approximately 260,000 individuals in yen for the loss of cryptocurrency.
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