Axial Entertainment

Blockchain technology means the opening of decentralized world. Transaction is easy, and there is no regulation. This is the new kind of currency system under the 4th industrial revolution, used in anywhere as the alternative to cash. We can exchange faster through this technology, and can apply this for many fields. Many blockchain project however focuses on the decentralized technology only, and shows several limits in practical use. Axial Entertainment Coin (hereinafter referred to as AXL Coin) aims to open the new world with firm purpose, while overcoming these limits.

AXL Coin is an ERC-20-based coin, facilitating Ethereum through blockchain assets. AXL Coin is fully dispersed, and guarantees transparency and reliability. Its technology enables things through technology which had been impossible in the past. This will be perfectly used for the way of investment for domestic/foreign pop culture art and performance planning, and the way of consumption for the entertainment markets.

Entertainment Industry Economics (Harold Vogel, 2003) defines the entertainment industry as the cultural activity which brings joy to many people, and which provides related products or service.

The author, Harold Vogel, divided this entertainment industry as a dependent type and a live type. In detail, the former mainly involves media image fields such as movies, music and broadcasting. The latter involves the fields where the entertainment is connected to the specific site, which does not require a tool such as media.

Entertainment industry, becoming the top added value industry in the 21st century, is generally called as the culture contents industry. Within the advanced industry development, each individual is expected to have more interests in intellectual and artistic representation of the future-oriented entertainment industry including theater, movie, music and game, along with the change of perception as seeking quality in his/her life.

Conventional manufacture in the past had been the industry where there was excessive investment cost in the early stage with uniform and standardized production, and where the individual characteristic is ignored. Entertainment industry on the other hand is the high added value industry where the profit is made by fusing one’s desire and another’s capacity to create.

In the ‘strategic view on blockchain’, Boston Consulting Group analyzed that this can be more efficient in reducing the transaction cost compared to existing networks, adding that ‘Coase Therorem’, explaining the transaction cost in economics, can also be applied to the blockchain market. With this blockchain technology, AXL Coin aims to reduce the unnecessary costs in the entertainment markets, and to resolve many issues within.