Arbitrum, which is an Ethereum Layer 2 network, teams up with NFT collection Azuki to introduce Japanese animation series, anime, within the blockchain universe.
With the name AnimeChain, the platform aims to leverage Arbitrum’s market capitalization of $4.3 billion, Azuki’s expanding anime ecosystem, rapidity, and extensive application base.
With Azuki’s anime productions, video games, and physical products at their disposal, they hope to demonstrate the efficacy of a decentralized prototype for AnimeChain’s IP expansion.
ARB experienced a transient surge in price from $1.68 to $1.72 and is currently trading at $1.64. Amidst the expansion of the cryptocurrency market, ARB has declined by 13%.
Per Coingecko, the reduced price of AZUKI is 5.11 ETH, or approximately $17,735. Its market capitalization has increased by 38% in the week preceding this, reaching $179 million, or 51,120 ETH.
The utilization of the blockchain for product development throughout the anime process is merely one of several functions that can be executed with a single click. From their perspective, the possibility of increased spectator participation has been present for a considerable period of time. This pertains to the release of Stylus, which offers enhanced support for programming languages and the option for EVM adaptability.
Anime is viewed by an audience of over 100 million, of which approximately 42.5 million are citizens of Japan, according to cybercrew. The market size of the industry is presently valued at $26 billion and is projected to increase to $62 billion by 2032.
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