DMM Bitcoin and coinbook to start IEO purchase application for “Nippon Idol Token” on March 29

IEO with coinbook and DMM

Overs Co., Ltd. announced that it will start accepting applications for IEO (Initial Exchange Offering) purchase of the crypto asset (virtual currency) “Nippon Idol Token (NIDT)” from 12:00 on the 29th.

NIDT is a utility token issued on the Ethereum blockchain. Issued in the “New Idol Group Creation Project” being prepared through coinbook Co., Ltd. and DMM Bitcoin. Yasushi Akimoto, who is known for producing the AKB48 group Sakamichi series, is expected to be appointed as the “general producer” who plans the basic concept and activity policy.

IEO is a means of raising funds by issuing new tokens through a crypto asset exchange. The total issued number is 1 billion, and the IEO sales volume is 300 million. The entire sales volume sold at the IEO will be distributed in the market without a lockup, but the project reward (excluding development costs, etc.) and the team’s self-owned portion will be locked up, and will be phased in after the IEO. release the lockup.

Financing use

Funds for the target business will be raised through the IEO, and the funds will be used to form and develop new idol groups. Aiming to form a unique ecosystem between idols, idol activities, and fan communities centering on NIDT.

Its mission is to “expand the scope of its activities using blockchain technology and the Metaverse”, and in addition to conventional real-world performances and events, activities include concert venues and studio stores in the Metaverse (virtual space) developed by a consignment company. Prospect new areas.

Talent management and label operations will be outsourced to major music-related production companies with extensive experience and achievements.

As a future roadmap, we will raise funds through IEO from March to April this year, and start auditions for idol groups in April. Candidates are expected to be decided in August or September after the final screening.