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Arbitrum Collaborates with NFT Collection Azuki to Bring Japanese Animation to Blockchain
Arbitrum, a prominent Ethereum Layer 2 network, has joined forces with the NFT collection Azuki to introduce Japanese anime series to the realm of blockchain technology. This collaboration has led to the creation of AnimeChain, a platform that aims to capitalize on Arbitrum’s $4.3 billion market capitalization and Azuki’s growing anime ecosystem, speed, and wide range of applications.
Through Azuki’s array of anime productions, video games, and physical products, the partners aim to showcase the effectiveness of a decentralized model for expanding AnimeChain’s intellectual property footprint. This innovative approach has already garnered attention, with ARB experiencing a brief price surge from $1.68 to $1.72 before settling at $1.64. Despite the overall growth of the cryptocurrency market, ARB has witnessed a 13% decline in value.
According to Coingecko, the current price of AZUKI stands at 5.11 ETH, translating to approximately $17,735. Furthermore, the market capitalization of AZUKI has seen a substantial 38% increase in the week leading up to this announcement, reaching $179 million or 51,120 ETH.
The Future of Anime on the Blockchain
Integrating blockchain technology into the anime production process represents just one facet of the capabilities that can be unlocked with a simple click. The potential for enhanced viewer engagement has long been recognized by industry players, particularly with the introduction of Stylus. This tool provides advanced support for various programming languages and enables adaptability to the Ethereum Virtual Machine (EVM).
With a global audience exceeding 100 million viewers, including around 42.5 million in Japan alone, anime holds a significant market presence. The industry is currently valued at $26 billion, with forecasts predicting a surge to $62 billion by 2032, as reported by cybercrew.
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