Update March 27, 12:20 pm UTC: This article has been updated to add comments from San FranTokyo head David Taing and Moca Network project lead Kenneth Shek.

Sony’s Soneium blockchain partnered with Animoca Brands to boost anime culture in Web3 by integrating anime artwork in decentralized digital identities. 

On March 27, the companies announced a collaboration that targets global anime and manga fans to boost user engagement in Web3. 

With the partnership, Animoca’s digital identity infrastructure platform, Moca Network, will create an identity layer on the Soneium blockchain, starting with Anime ID, a decentralized identifier and reputation layer.

Anime ID is spearheaded by San FranTokyo, an initiative to integrate traditional anime and manga culture with decentralized technologies. 

Anime-themed experiences are coming to Web3

The partnership integrates Moca Network’s Account, Identity and Reputation Software Development Kit (AIR SDK) into the Soneium blockchain. This allows users to maintain embedded accounts with unique identities and credentials as they use different decentralized applications (DApps) on the network. 

San FranTokyo’s Anime ID will be the first to adopt the AIR SDK, enhancing anime fan engagement on Soneium. In addition, San FranTokyo will collaborate with Animoca Brands to launch anime-inspired cultural campaigns on Soneium to onboard anime fans to the Soneium blockchain and connect with new anime-themed experiences.

San FranTokyo head David Taing told Cointelegraph that Anime ID makes blockchain engagement feel “more natural” for anime and manga fans. Shek told Cointelegraph: 

“Currently, navigating the Web3 space can be overwhelming due to the need for multiple wallets, platforms and accounts. Anime ID simplifies this experience by offering fans one simple identity to use across all aspects of their fandom.”

Taing said the first initiative would be the Anime Art Festival on Soneium, which is designed to spotlight anime-focused intellectual properties, creators and Web3 projects. 

“We are excited to kick things off with the globally acclaimed Solo Leveling in collaboration with the Otherworld team,” Taing told Cointelegraph. 

Meanwhile, Moca Network project lead Kenneth Shek told Cointelegraph that anime is a “core part” of modern-day entertainment culture, and the partnership is just the beginning. 

“Starting with anime, we foresee many other entertainment-related applications to participate in the network, and further enrich the user-owned identity and data,” Shek added. 

Sony Block Solutions Labs (Sony BSL) launched the blockchain’s public testnet on Aug. 28, 2024. The layer-2 network aims to foster a fan community centered on creators who connect diverse values through the blockchain. 

On Jan. 14, the blockchain’s mainnet went live amid backlash from community members. Pump.fun’s Alon slammed the network for blacklisting specific memecoins and “nuking everyone’s position to 0.”

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Ghibli-inspired memecoins flood the crypto market

On March 25, OpenAI launched image generation for its ChatGPT-4o mode. This was met with social media users generating images in the art style of Studio Ghibli, a company known for its anime films. Following the surge, a Ghibli-inspired memecoin reached a market capitalization of $20 million. Since then, at least 20 other Ghibli-related memecoins have been created in the market. 

While the news may be great for Web3 and anime fans, anime and crypto may not always work in favor of men seeking relationships. On Aug. 26, women ranked anime as the third-most unattractive hobby for a man, while crypto took the number two spot. 

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European banks and financial institutions may be significantly underestimating the demand for cryptocurrency services, with fewer than one in five offering digital asset products, according to a new survey by crypto investment platform Bitpanda.

The study, which surveyed 10,000 retail and business investors across 13 European countries, found that more than 40% of business investors already hold cryptocurrencies, with another 18% planning to invest in the near future.

Yet, only 19% of surveyed financial institutions said their clients showed strong demand for crypto products — suggesting a 30% gap between actual investor adoption and perceived interest.

Crypto investments of EU private investors by country. Source: Bitpanda

Moreover, only 19% of surveyed European financial institutions are offering crypto services, while over 80% of institutions acknowledge crypto’s growing importance.

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Still, some European banks are recognizing the growing demand for digital assets, with 18% of surveyed financial institutions planning to expand their crypto service offering, particularly offerings related to crypto transfers.

“Financial institutions in Europe know that crypto is here to stay, but most are still not offering services that match investor demand,” according to Lukas Enzersdorfer-Konrad, deputy CEO of Bitpanda.

The main barriers to adoption aren’t external issues such as regulation but internal, like a “lack of resource or knowledge,” he told Cointelegraph, adding:

“These can be overcome, and the challenge to financial institutions is clear: go and check your revenue outflows. You can see where customers are moving their money; you can see just how real the demand for crypto is.”

Partner preferences of private investors regarding crypto investments. Source: Bitpanda

More crypto products from banks may increase European crypto adoption, considering that 27% of the survey’s respondents would prefer to invest in cryptocurrencies through a traditional bank, while only 14% would choose a crypto exchange.

In comparison, 36% of business investors choose to invest through an exchange, while traditional banks were only the third most popular option with 27%.

Related: Security concerns slow crypto payment adoption worldwide — Survey

Financial institutions with no crypto integration risk losing revenue

Banks and financial institutions without cryptocurrency integrations risk losing significant revenue share from both businesses and retail investors, according to Enzersdorfer-Konrad.

“Financial institutions that delay integrating crypto services risk losing revenue to their competition or crypto native companies. With the EU’s Markets in Crypto-Assets Regulation (MiCA) providing regulatory clarity, the time to act is now,” he added.

Crypto sentiment among European financial institutions. Source: Bitpanda

Moreover, 28% of surveyed institutions said they expect crypto to become more relevant within the next three years.

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South Korea’s Ethics Commission revealed that high-ranking public officials in the country hold an average of 35.1 million won ($24,000) in crypto assets. 

On March 27, the country’s Ethics Commission for Government Officials reportedly disclosed that more than 20% of the surveyed public officials hold 14.4 billion won ($9.8 million) in crypto. This means 411 of the 2,047 officials subjected to the country’s disclosure requirements hold crypto assets. 

The highest amount disclosed was 1.76 billion won ($1.2 million) belonging to Seoul City Councilor Kim Hye-young. 

The officials held different crypto assets, including Bitcoin (BTC), Ether (ETH), XRP (XRP), Dogecoin (DOGE), Luna Classic (LUNC) and others. 

South Korean public officials disclosed crypto holdings

The disclosure of public officials’ crypto assets follows calls for transparency from its prime minister.

In 2023, South Korean Prime Minister Han Deok-soo said in a news conference that high-ranking government officials must include crypto in their property disclosures. The official said crypto should be treated similarly to other assets like precious metals.

On May 25, 2023, South Korea passed a bill mandating public officials to include crypto in their public asset disclosures. The new system granted South Koreans access to the crypto holdings of at least 5,800 public officials starting in 2024. 

In June 2024, crypto exchanges in the country launched information provision systems to simplify the registration of information about crypto holdings. 

Related: South Korea temporarily lifts Upbit’s 3-month ban on serving new clients

Lawmaker controversy spurred crypto disclosure laws

The new law was created in response to the controversy involving South Korean lawmaker Kim Nam-kuk, who was accused of liquidating crypto assets and concealing holdings of around $4.5 million before lawmakers in the country enforced the Financial Action Task Force’s (FATF) “Travel Rule.”

Kim departed from the Democratic Party at the height of the controversial lawsuit to relieve party members of the burden of the lawsuit.

While prosecutors requested a six-month prison sentence for Kim, the lawmaker was eventually acquitted after a judge ruled that crypto assets were not subject to public disclosures at the time Kim made the transactions. 

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