What Is Curecos (COT)? Complete Guide & Review About Curecos

What Is Curecos?

Curecos is the worldʼs first and largest platform that connects cosplayers and their fans
by leveraging blockchain technology. They strive for the creation of a cosplay ecosystem
where cosplayers and their supporters can gather as a community and connect with each
other by using NFTs. The evolved from World Cosplay, a website for sharing cosplay
photos with 1 million registered users in 180 countries. The platform boasts some of the
most famous, popular cosplayers in Japan and abroad.

World Cosplay Coin has been supported by a large number of cosplayers and their fans since
its launch in 2017, and has become the largest platform in the cosplay industry as of
2021 with over 110,000 cosplayers and 1 million fans. Cosplayers on World Cosplay
range from amature cosplay photographers to full-time professional cosplayers. In World
Cosplay, cosplayers and fans can connect through “social tipping” (i.e., giving money to
favorite livestreamers etc. on the Internet – called nagesen in Japanese).

Flexible Price

The live Coplay Token price today is $0.193963 USD with a 24-hour trading volume of $75,654.18 USD. They update COT to USD price in real-time. Coplay Token is down 1.79% in the last 24 hours. The current CoinMarketCap ranking is #4535, with a live market cap of not available. The circulating supply is not available and a max. supply of 1,000,000,000 COT coins.

If you would like to know where to buy Coplay Token at the current rate, the top cryptocurrency exchanges for trading in Coplay Token stock are currently Uniswap (V3), and Uniswap (V2). You can find others listed on crypto exchanges page.

Vision

The Curecos industry has seen explosive growth in recent years, with many enthusiasts spending significant amounts of money as a hobby. According to a study by China Research and Intelligence (CRI), the amount of money spent on cosplay wigs and costumes reached $17.8 billion in 2017 (including the costs of makeup and materials).

However, when other costs associated with event tickets, photo shoots, accommodation, transportation, etc. are taken into account, the actual amount spent is expected to be much higher. Furthermore, according to EventBrite, 59% of attendees in cosplay events purchase between $100 and $500 worth of merchandise per event, with 10% of them willing to spend even more.

Through COT, they aim to establish a “market” for the cosplay industry and significantly increase its market value, with the ultimate goal of multiplying the current value by a factor of 5. By providing the community with convenient payment methods while protecting copyrights and enhancing transparency of the relevant data, they can ensure that players are properly rewarded for their services, with the cosplay market functioning almost as a decentralized autonomous organization (DAO) in a sustainable fashion.

Challenges of the Cosplay Industry and How to Solve Them

Curecos Coin Despite its significant growth potential, the cosplay industry faces many challenges. Since the launch of World Cosplay, they have been working with players from all over the world to address the following issues.

Lack of Access to Financial System

Many players are not compensated for their work because their access to the financial system is often limited. In addition, they are usually young in their 10ʼs or 20ʼs and do not own a credit card. Although they could use PayPal to facilitate those payments, the service is not available in some jurisdictions. Coupled with the inconvenience of micropayments and currency risks, traditional payment solutions do not offer enough safety and convenience for social tipping.

Solution

The Cosplay Token (COT) can be sent across borders and there is no currency conversion involved. It can be exchanged with other crypto assets as well. In addition, they have also seen a nation state adopt Bitcoin as a legal tender. We believe this will offer a solution to financial inclusion, with the implication being that everyone in the world will eventually have equal access to crypto assets. COT builds on the same idea and offers those who do not have a bank account the opportunity to enjoy the world of cosplay

Allocation of Profits to Content Creators

While the global market for digital cosplay is growing, the problems around copyright and revenue sharing prevent it from seeing a material growth, with players not being paid properly.

Solution

Through the token economy built around COT, they construct a mechanism that distributes revenues to cosplayers in a more equitable fashion. They also aim to design smart contract functionalities to equally distribute profits to all users involved, including content copyright holders, photographers, etc.

Token Model

Let’s say a user wants to tip $1,000 to Cosplayer A. Then, 0.5 ETH is purchased with 50,000 JPY (1 ETH = $1,000), with the remaining $500 spent to buy 500 COT ($1,000 = 1,000 COT).

The user then offers 0.5 ETH and 500 COT as liquidity to Uniswap and receives the Uniswap LP token as a proof of the liquidity they have provided. Here, the LP token allows its holder to receive ETH and COT deposited to Uniswap on a pro-rata basis.

The user sends tips to Cosplayer A in the form of the LP token.

Cosplayer A can bulk withdraw the LP tokens when he/she wants to (e.g. after aggregating rankings data)

If the user tips an amount that exceeds a certain threshold, they will receive exclusive NFTs from Cosplayer A (please see below for more details on NFTs)

This process will increase the liquidity of COT on Uniswap and enhance the usability of COT.

The Value of COT

World Cosplay, the predecessor to Curecos, currently receives a portion of the tips provided on the platform as a fee for the further development of the platform. However, in order for the system to grow as a universal platform for the cosplay industry, they need support from cosplayers, users, COT holders, etc.. In turn, those stakeholders who believe in the future of Curecos and support the growth of the platform will be rewarded with a share of the profits generated on the platform in the following manner.