Arbitrum and Azuki join forces to launch anime-based web3 network

Quick Take

In a newly announced collaboration, Arbitrum Foundation, Azuki and Weeb3 Foundation are teaming up to launch a blockchain-powered anime network.
Dubbed AnimeChain, the new project aims to onboard fans of anime to web3 with a mix of content, games, merchandise, and NFTs.

Looking to broaden its interests even further, Arbitrum ARB -1.50% Foundation has announced it is teaming up with both the popular NFT brand Azuki and Weeb3 Foundation in an effort to create a web3 network that appeals to fans of anime.

Through the collaboration, the three organizations aim "to usher in the next era of anime fandom by leveraging web3 technology to enhance the anime experience for millions worldwide, encompassing first-party and third-party anime content, games, merch, and NFTs," according to a statement. The new project has been christened AnimeChain.

"With the most advanced blockchain scaling technology in the industry, Arbitrum will empower AnimeChain to redefine the anime experience for fans and creators worldwide," Nina Rong, Arbitrum Foundation's head of ecosystem development, said in the statement.

Earlier this month, Arbitrum Foundation announced plans to invest 200 million ARB (currently $344 million) to promote gaming projects on its blockchain over a two-year period. Arbitrum Foundation also said, in February, it will finance a feature-length film produced by Oscar-winner Shane Boris.

Arbitrum Foundation supports the Ethereum Layer 2 network Arbitrum.

Capturing the growing anime market

In the statement, the three organizations stated that anime fans in web3 have so far suffered from a "fragmented experience." They also said that globally the anime market is "projected to exceed $60 billion by 2030" making it "one of the fastest growing verticals in the global entertainment industry."

"We are proud to be the first launch partner on AnimeChain, which will provide an opportunity for a new approach to create and consume anime IP," Azuki CEO Zagabond said in the statement.

Azuki was created by the Los Angeles-based tech company Chiru Labs. Weeb3 Foundation was cited as the developer of AnimeChain.

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About Author

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.