In a strategic move, Ethereum Layer 2 network Arbitrum and NFT collection Azuki have partnered to introduce Japanese anime into the blockchain realm.
The Birth of AnimeChain:
Dubbed AnimeChain, this platform seeks to harness Azuki’s burgeoning anime ecosystem alongside Arbitrum’s substantial $4.3 billion market capitalization, rapid transaction speed, and extensive array of decentralized applications (dApps).
Partnership Vision:
Azuki expressed its enthusiasm for the collaboration through its social media channels, emphasizing the potential of a decentralized model to cultivate intellectual property (IP) growth on AnimeChain.
Market Response:
Following the announcement, ARB experienced a brief surge in value, climbing from $1.68 to $1.72 before settling at $1.64. Despite a positive trend in the broader crypto market over recent weeks, ARB had previously experienced a 13% decline.
Meanwhile, AZUKI’s floor price currently stands at 5.11 ETH, equivalent to approximately $17,735, according to data from Coingecko. Over the past week, AZUKI has witnessed a notable uptick, soaring by 38%, with a market capitalization of $179 million (or 51,120 ETH).
Future Prospects:
Azuki’s co-founder, locationtba, highlighted the potential for blockchain integration to enhance fan engagement within the anime community, envisioning streamlined operations with a mere click. They emphasized Arbitrum’s 250ms block times and the recent launch of Stylus, which offers EVM-compatibility and broader programming language support.
The Significance of Integrating Anime into Web3:
The integration of the anime community into Web3 represents a significant development, given the fervent enthusiasm exhibited by fans of the genre. Statistics reveal the massive global audience for anime, with over 100 million viewers worldwide, approximately 33% of whom reside in Japan. The industry boasts a market size of $26 billion, projected to expand to $62 billion by 2032, according to data from Yahoo Finance.