Anime is a rapidly expanding industry with annual revenues estimated to be in the billions of dollars. However, while the industry is thriving, the artists who create the well-known graphics are struggling. Working conditions in this industry are poor, leading to many artists burning out, abandoning their dreams, or succumbing to severe depression.
Currently, most artists on these teams are freelancers or entry-level animators who are tasked with creating individual drawings from top-level directors who create the storyboards. These animators are thought to make less than $2 per drawing, or as little as $200 per month.
Only a few drawings can be made per day because each artwork causes meticulous attention to detail. Even as the popularity of anime grows, the artists who create it receive little to no compensation. Instead, any expansion has widened the gap between the profits generated and the pitiful wages paid to artists, making it difficult to position an interest in anime and manga as a dream job.
Under normal circumstances, increased competition for talent should cause prices to rise in the industry. Currently, this is not the case for manga and anime creators.
There had been no solution in sight for years. That is until blockchain and nonfungible tokens are invented (NFTs). Luffy was born because of this technology, with the goal of creating an NFT marketplace that would allow starving artists to reap the full benefits of their creations while also earning a living wage.
Purchasers can use NFTs to verify the authenticity and source of digital art, allowing profits to be attributed to the artist. As a result, many artists may recoup some of their work's value when it is sold to collectors.
Luffy is a community-driven token that runs on the Ethereum (ETH) network and is part of a larger metaverse that includes an NFT marketplace, a decentralized exchange (DEX) platform, and several interactive games.
Built on the foundation of transparency,
To sum up their efforts, one of their team members says,
"The NFT protocol LUFFY INU disrupts the anime and manga industries. Luffy helps artists monetize their artwork through collectible NFTs on the blockchain by gamifying popular Japanese games."
Luffy was founded on the principles of transparency, community, and open communication on Aug. 4, 2021, and the dream began there. Users can expect full control of the token to be in the hands of the holder from day one, thanks to token burning.
The team has begun their NFT releases with the release of 10,000 digital assets in October 2021. Any profits made were then put toward burns, marketing, and platform development.
Luffy is positioning his coin to become cult-like in the future, allowing it to be used with anyone, anywhere, in creating a community of passionate manga and anime fans. This is because of the team's carefully crafted tokenomics (The study of the economics of crypto tokens or cryptocurrencies is called tokenomics. It involves studying the factors that affect the demand and supply of tokens. The factors include quality, distribution and production of crypto tokens), which include a 3% reward distribution from each transaction, over $100,000 per month spent on marketing initiatives (2%) and another 2% on liquidity to prevent manipulation, as well as a 2% burn rate.
Poised for success
In the last three months, the team has reported over 10,000 holders, as well as a growing community and a slew of prominent social groups. A glance at the team's roadmap reveals several upcoming releases, marketing initiatives, and listings.
On their mission to become a serious token with real-world utility, the team operates with unmatched determination. The NFT marketplace is the most obvious example; however, future goals include NFT farming and monthly airdrops based on the holder's level.
The team states they will not give up in their efforts to achieve this, though their timeline may change to accommodate additional needs. Along with the NFT hype, the team expresses their confidence in the Luffy project's ability to open doors to a new cryptocurrency capital.
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