OtaCute Philippines Inc. launches OtaCute DAO with COT (Cosplay Token) as Governance Token

OtaCute Philippines Inc., which hosts otaku events mainly in the Philippines and operates the cosplay community app Otasuke! launched OtaCute Event DAO with the slogan:

“Together, Let Us Spark the World's Passion.”

This Decentralized Autonomous Organization (DAO) can freely exchange event ideas in Discord, while COT (Cosplay Token cryptocurrency) holders can propose suggestions and vote using Snapshot.

In the past, events were activities someone would organize and have people attend and participate, but recently, based on our interaction with attendees, there seems to be a lot more people coming to these events who want to be involved more with the organizing side as well.

This being the case, Otacute Event DAO was launched. It aims to create a 2-way system that allows people to both attend events and participate in organizing them.

From the idea ‘More satisfaction, less exploitation’, we focused our efforts creating a mechanism that will provide fair rewards to DAO members according to the degree of their activity and participation.

These rewards will use the Governance Token COT (Cosplay Token).

First, in 2023 we will hold a cosplay event in the Philippines by means of a 1000 member DAO initiative, proactively and continually introduce COT by trading in the booth and through ticket sales.

Booth Opening in Japan Fiesta as Commemoration for DAO

On February 18-19, The Japanese Embassy and the Japan National Tourism Organization (Manila Office) held the ‘Japan Fiesta 2023’ in the Philippines’ financial commercial center, Makati City. It aimed to promote better Japanese and Philippine ties.

In the event, a booth was opened to commemorate the launch of OtaCute Event DAO. More than 100 attendees joined the DAO Discord, and created their COT virtual wallets there.

Over 20,000 people attended the 2 day event. A finals round of a cosplay performance contest was held on-stage during the event and was watched by an enthusiastic audience. An elimination round was done weeks before, within the Otasuke app to choose the final contestants.

Winners received their prize as Cosplay Tokens (COT)

COT Functionality in Otasuke App Currently Under Development 

The Otasuke cosplay community app is currently developing a system that gives COTs to the users of the app by considering activities in the app (such as contest participation, likes, postings, following, comments, etc.) and rewarding them with COTs. This planned app functionality update is for a late March 2023 release.

Through this initiative, COT will be circulated and become a familiar currency. And by increasing the number of places where it can be used in the Philippines, such as anime goods shops, photo studios, and event ticket sales, COT will become a common currency for cosplayers and cosplay fans.

Links
COT(Cosplay Token) : https://cot.curecos.com/
OtaCute DAO : https://otacutedao.events/
Otasuke APP : https://www.otasukejp.com/