Axial Entertainment Coin
AXL cryptocurrency is a reverse ICO project that represents the ‘AXIAL ENTERTAINMENT CRYPTOCURRENCY’. AXL project aims to become a ‘key currency’ on global entertainment contents consumption market and recover the ticket market which infringes consumer’s right by ticket scalping which sums to the amount of 17.6 billion USD.
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-223-based coin (currently migrating to ERC-777), 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.
- Solution to the issues: AXL Wallet Application
“This has the user-friendly interface based on decentralized blockchain, and also enables entertainment investment with the payment method through PG (payment gateway) of impartial and transparent AXL coin. It further provides purchase service on entertainment/sports market contents, and on associated products. It conducts as the peer-to-peer platform, without irrational intermediary commission system.”
- AXL Wallet Application
“This is the integrated entertainment platform service, which supplements the issues in existing entertainment markets, and provides all the related services required by consumers, producers and creators in the culture contents market such as performance, sports, movies and exhibitions, into AXL.
- Entertainment market formation based on transparent data disclosure
AXL Wallet Application does not need the ticketing intermediary or the exchange, which worked as complexity in existing payment procedures. It resolves partial profit distribution and copyright violation issues between the contents creator and the distribution platform, using the transparent transaction verification through the smart contract out of blockchain technology. AXL Wallet Application is also in multiple languages, which lowers the entry barriers against the global fans, and which enables smooth interaction.
- Service cost reduction according to payment system integration
Through the payment system using PG (payment gateway) of impartial and transparent AXL, the process is easier and simpler, while satisfying desire to consume. It further works as the solution against: exchange rate commission due to different currency values per nation, and foreign-exchange loss of more than 8% according to the exchange rate differences.
Ticketing process in AXL Wallet Application is through the smart contract, and the blockchain technology records every step, so that the ticket cannot have a higher price or cannot be sold illegally. Since the price change is impossible, profit from the ticket therefore solely goes to the artist and the producer. Consumer also prevents unnecessary spending from illegal/expedient ticketing.
- Resolution of crowdfunding, using ‘AXL Wallet Application’
- Entertainment contents investment with high investment entry barrier for common people, can be conducted without having risks through AXL coin.
- It enables immediate estimation on investment profit, after completing the prioritized ticket reservation and related projects on created contents.
- Investment return can be maximized, without spending further cost for intermediary commission and estimation.
- Improvement against complexity and inconvenience from crowdfunding investment procedures - Intermediary no longer exists, and the related cost is reduced. Simplified procedures resolve inconvenience. - Payment is simplified through AXL coin, which makes improvement against complexity and inconvenience.
- Information disclosure based on technology - There is no intermediary intervention through blockchain distribution ledger technology. Every transaction record is transparently disclosed. Funding reliability is improved through real time estimation. - Intermediary no longer exists, and the related cost is reduced.
- Crowd funding through the smart contract - Automatic transfer can be set, so that the contract is fulfilled without having trouble once the contract condition is met. - Investor’s capital can be protected, since the capital is not shifted without meeting the condition. - Profit distribution process is simplified, due to no additional cost for monitoring, conducting and estimating the contract.
- 3Q: Concept
- Project concept organization
- Team member organization
- 1Q: Foundation
- Establishment of ABA LAB
- 2Q_AXL COIN Launching
- AXL COIN launching
- Conduct Private-Sale
- AXL Wallet Application 1.0 announcement
- 1Q: More Operational
- System stabilization verification
- Enter Point announcement
- Preparation for Main Net launching
- 2Q: Mainnet Launching
- Main Net launching (Scheduled)
- 3Q: Development
- AXL Wallet Application 3.0 announcement