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Cosplay: 45-billion-USD Industry on the Blockchain
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Cosplay is a hugely popular hobby in which participants create and wear costumes to represent fantasy characters of their choosing. These characters can come from a variety of different places, such as games, anime, TV shows, comics and films.
Cosplay as a market has grown rapidly – with the industry now worth about 45 billion USD, with many stars, influencers and hobbyists within the cosplay space able to make a living doing what they love.
Pushing for progress within cosplay
Cosplay has exploded over the last few years and revenue has increased across the board thanks to social media, and also the growth of Twitch, Steam and Comic-con.
The Cosplay Token (COT) strives to become the currency of choice within the cosplay ecosystem so that cosplayers can receive tips for their work when they do not have access to conventional online payment methods.
There are a number of challenges within 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.
COT puts the power back in the cosplayers’ hands. Payments, tips, copyright protection, incentives and reputations are all features of the platform.
COT is built on Distributed Ledger Technology that allows for complete transparency throughout the cosplay scene — increasing identification, evaluation and trust between community members.
A new dawn for cosplayers
The team behind COT use the Bancor Protocol for the Cure WorldCosplay Platform, which allows participants to create their own custom COT currency. This mean players can easily monetize themselves by creating their own personalized Cosplay Player Coins to be used within their own ecosystem.
These coins can be created by individuals if they lock up a certain amount of their own COT in a reserve. The newly created personalized coins derive value based on how many are bought, and they can be freely traded back for COT.
The COT ecosystem will provide the cosplay community with globalized information, increasing the transparency substantially. Smart contracts are used to improve revenue distribution and management. Participants are also able to receive valuable feedback and market insights that will help them improve their work.
Cure WorldCosplay has a huge market, and has its own social network with around 700,000 users from across the globe, sharing millions of images between them. The platform has more than 400,000 social media followers in total across Facebook, Weibo and Twitter, and the Cosplay Token project has over 200,000 telegram members.
We are excited to list the Cosplay Token on Liquid.