What Is AnimeChain?

AnimeChain

TL;DR
AnimeChain is a new project that’s building an anime-focused specialist chain on Arbitrum, and aims to become a hub for Web3 anime activity, while onboarding users from Web2. Chiru Labs, the Weeb3 Foundation, and the Arbitrum Foundation are working together to build AnimeChain, but there is competition from Capsule House, which launched a token called ANIME, and from Anime Foundation, a project being built with the involvement of San FranTokyo and Animoca Brands.

If you were wondering what NFTs can do to grab some attention in the current meme coin-dominated phase of this crypto cycle, then take a look at AnimeChain, which is solving the problem by launching an entire new chain.

With some big names on board, AnimeChain looks promising, but is the timing right for an anime-focused, NFT-connected network? Let’s look at how AnimeChain is shaping up, what it has planned, and check in also on a couple of its competitors.

Who Is Making AnimeChain?

AnimeChain
Image credit: AnimeChain

AnimeChain includes as its collaborators Chiru Labs and the Weeb3 Foundation, along with the Arbitrum Foundation, so let’s run through exactly who all these partners are.

Chiru Labs is the outfit behind the Azuki NFT collections, and Azuki, which launched in January 2022, is one of the most successful and high profile projects from the NFT wave of 2021/22, and is considered the top anime-themed project. Like almost all Ethereum NFTs, it’s way down from its 2022 peak value, but the main PFP collection still maintains a floor price of, currently, around 4.2 ETH, and the Azuki community remains loyal.

AnimeChain
Image credit: Chiru Labs

Then we have the Weeb3 Foundation, which appears to have been a forerunner to AnimeChain, advertising plans for “an open anime universe” while also making reference to a future token launch by stating that it was “powered by $ANIME”. Weeb3 looks now like it has simply become a part of AnimeChain, although there’s currently a lack of clarity around how the two fit together.

And finally, there’s the Arbitrum Foundation, which is the organization governing Layer-2 network Arbitrum. Importantly, Arbitrum is the leading, most widely adopted Layer-2, and is becoming home to not only DeFi, but also to a growing number of gaming projects.

What’s the Plan for AnimeChain?

To be powered by its own custom token, AnimeChain is being built as an Orbit chain on Arbitrum, and it makes use of Arbitrum’s Stylus platform, which allows developers to code EVM-compatible smart contracts in familiar languages such as Rust and C++. This innovation can, potentially, open up blockchain projects (or AnimeChain specifically, in this case) to developers coming straight in from Web2 who may not have specialist blockchain experience.

AnimeChain
Image credit: Arbitrum

It seems like one aim for the project is to create a Web3 experience which is as easy to engage with as the UX that users are familiar with in Web2, with Azuki co-creator Location TBA (as he likes to be known) tweeting that,

“When it comes to matching how seamless the web2 experience is, Arbitrum brings us closer with custom gas tokens.”

That in mind, the project’s AnimeCoin will be used as a gas token during transactions on AnimeChain, and there is the capacity also for the token to be utilized in other ways–for example, as a native currency–when interacting on the network.

What’s more, that reference to the seamlessness of Web2 seems significant, as a sticking point for crypto and Web3 is the amount of friction involved in the user experience. Can AnimeChain be the project that finally cooks up a simple-to-use crypto product for mainstream adoption? We’ll have to wait and see, but anime seems like an area with a good shot at it, as AnimeCoin itself explained:

“Anime has transformed from a niche subculture to a dominant force in mainstream global pop culture. Across entertainment, fashion, sports, music, gaming, and art, anime’s growth has been meteoric, projected to reach $60B by 2030.”

AnimeChain

And as for what will actually happen on AnimeChain, we can get a good idea from AnimeCoin’s description of what Azuki has planned:

“Azuki will be launching its anime productions, games, and physical products on AnimeChain, providing a blueprint for other top-tier anime IP to be built onchain.”

Anime Points

There’s currently no better way for new crypto projects to garner engagement than points systems leading to airdrops, and AnimeChain looks set to follow this path, with its website linking to a points page. An earning system is not up and running yet, but you can link up your wallet and your Twitter, and start engaging.

Competition for AnimeChain

At the end of March, the anime-oriented NFT art project Capsule House jumped into the meme coin meta and unexpectedly launched a new coin called ANIME, which immediately pumped in price before correcting quickly back down.

However, don’t confuse Capsule House’s ANIME token, which dropped on Base, with the AnimeChain project on Arbitrum, as there is no connection between the two. Just to clarify though, Capsule House–which features the work of artists SeerLight and Kaejunni–is itself a well-respected OG outfit, so its ANIME coin might go on to stick around and make further gains.

AnimeChain

It may also be the case that Capsule House dropped its new coin in a stunt aimed at being deliberately disruptive to AnimeChain, but then, that kind of move is part of the entertainment in the chaotic crypto arena.

And on top of that, there’s also another major Web3 anime platform in the works, called Anime Foundation. That one is connected to the San FranTokyo NFT project, it’s being developed in partnership with Animoca Brands, has plans for a coin called MANGA, and looks like it will be directly competing with AnimeChain.

What Is AnimeChain? - - 2024

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What Is AnimeChain? - - 2024
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