In March 2023, the cryptocurrency exchange “coinbook” announced that it would implement an IEO, start a trading service on the exchange, and hold a campaign to open an account.
The operating company, coinbook Co., Ltd., is a startup company that aims to build a new economic zone in the Japanese entertainment market with blockchain technology, with the theme of “Bringing a new wind to the blockchain market”.
In this article, we will introduce in detail the overview of coinbook, which has newly started trading services, service contents, and scheduled events.
- table of contents
- What is the crypto asset exchange “coinbook”?
- Services provided by coinbook
- Events and campaigns conducted by coinbook
- Will coinbook bring a breath of fresh air to the entertainment industry?
1. What is the crypto asset exchange “coinbook”?
coinbook is an exchange that started physical trading services for crypto assets in March 2023.
As of April 2021, the exchange had already been registered as a crypto asset exchange business, but until now it had only accepted account openings and did not support actual transactions. Now, we have started offering full-scale services.
The company profile of coinbook Co., Ltd., which operates the exchange, is as follows.
|Date of establishment
|May 18, 2018
|Akasaka ST Building 2F, 2-18-14 Akasaka, Minato-ku, Tokyo
|1,252 million yen (including capital reserve)
|Blockchain technology consulting
Selling NFT Trading Cards
Operation of crypto asset exchange
The company, which aims to develop a new market and service called “entertainment x blockchain”, aims to operate a highly convenient exchange in order to make blockchain technology more accessible. With the full-scale launch of the spot trading service, we can say that we have taken a big step towards achieving that goal.
The company also provides the NFT marketplace “NFTex”. NFTex is a platform that uses the Solana chain, and you can purchase NFT collections (digital content such as still images, videos, and sounds) of idol groups such as “SKE48”. There are two methods of purchasing: “Fixed Price Purchase” and “Auction Purchase”.
2. Services offered by coinbook
Next, we will introduce more detailed information about the services provided by the crypto asset exchange coinbook.
2-1. Basic information of the exchange
As mentioned above, the spot trading service will be available from March 2023. The coinbook exchange allows users to trade physical crypto assets with other users.
As of March 2023, the stocks handled are as follows.
|Trading start date
|March 16, 2023
|NIDT (Nippon Idol Token)
|April 26, 2023
In addition, the exchange is attractive for the safety of managing all customer assets offline, the simple and easy-to-use trading system, and the low threshold for opening an account in as little as one day.
2-2.Deposit and withdrawal fees for Japanese yen or crypto assets
Coinbook’s deposit and withdrawal conditions are at the same level as major exchanges. Let’s introduce the methods and fees separately for Japanese yen and crypto assets.
Japanese yen deposits and withdrawals:
|Deposit and withdrawal methods
|Free (excluding bank transfer fees)
|660 yen (tax included)
Deposits and withdrawals of crypto assets:
|Deposit and withdrawal methods
|Deposit through blockchain
|Withdrawal through blockchain
|Free (excluding fees incurred by the remittance side)
|ADA: 1 ADA (about 44 yen as of March 2023)
NIDT: 200 NIDT
All deposits and withdrawals can be accepted 24 hours a day, 365 days a year except during maintenance, and it is possible to respond with the same sense of speed as major exchanges.
coinbook plans to hold IEOs irregularly.
An IEO is a token sale through an exchange, mainly for project operators to raise funds. It is an event that attracts a lot of attention from investors as it will be an opportunity to purchase new tokens.
As of March 2023, the IEO of the idol project token “NIDT”, which will be described later, will be held.
coinbook also offers an “OTC trading” service. OTC trading is a negotiated transaction for large investors that does not go through an exchange or market, and coinbook allows you to trade crypto assets equivalent to 5 million yen or more at a time.
For coinbook OTC transactions, safe transactions are realized by using the escrow trust of “Escrow Agent Japan Trust Co., Ltd.”, which operates an escrow business that guarantees the reliability of financial transactions.
To start using it, you need to open a dedicated account, and you can apply from the “OTC transaction application request form” on the official website. There are three types of currency pairs available for OTC trading: BTC/JPY, ETH/JPY, and ADA/JPY.
3. Events and campaigns conducted by coinbook
In addition, from March to April 2023, coinbook is planning an IEO for a crypto asset called “NIDT (Nippon Idol Token)”. We are also holding a campaign to commemorate the implementation of the IEO and the start of the spot trading service.
In this chapter, we will explain the details of IEOs and campaigns.
3-1.NIDT (Nippon Idol Token) IEO
Coinbook plans to start accepting applications for IEO purchase of NIDT (Nippon Idol Token) from 12:00 on March 29th.
NIDT is a “token for idols that support idol culture”, and is a crypto asset that is used to build a series of ecosystems that utilize the Metaverse, from the formation of new female idol groups to their activities.
This is the fourth IEO to be implemented in Japan, and the issuer is the entertainment company Obers Co., Ltd.
In addition to expectations for a new idol that integrates blockchain technology, Yasushi Akimoto has been appointed as the general producer of the project, which is attracting attention.
The NIDT IEO is scheduled to be held according to the following schedule.
- March 29th 12:00: Purchase application start
- April 19th 12:00: Purchase application ends
- April 20-24: Lottery, delivery of NIDT
In order to apply for an IEO purchase, it is necessary to open a coinbook account, verify your identity, and complete the payment. If you want to participate in the IEO, please complete those procedures by 12:00 on April 19th, when the application closes.
3-2.Two types of campaigns are also being held
Also, as of March 2023, coinbook is holding two types of campaigns.
🎊IEO Commemorative Campaign🎊
Follow & retweet to get NIDT worth up to 10,000 yen🎁
📢 Click here for the campaign page https://t.co/wjXVVkcPfQ
March 13, 2023 11:00 to March 28, 23:59
— coinbook Inc. (@coinbook_tw) March 13, 2023
Details of both campaigns are below.
|Account opening campaign
|Follow & Retweet Campaign
|Individuals opening an account for the first time
|coinbook account holders
|12:00 on March 16th
March 28 23:59
|March 13th 11:00～
March 28 23:59
|Follow coinbook on Twitter
Retweeting campaign posts
|NIDT equivalent to 1,000 yen (given to all eligible people)
|NIDT equivalent to 10,000 yen (10 people by lottery)
If you open an account with the IEO implementation as a trigger, you can also participate in the above campaign at the same time. Since the hurdles to apply for both are low, it can be said that it is attractive to participate casually.
4. Will coinbook bring a breath of fresh air to the entertainment industry?
Coinbook started spot trading in March and started full-scale service as a crypto asset exchange. As a cryptocurrency exchange, we are a latecomer, so we will build a sophisticated service based on the service content, management system, and failure examples of the preceding exchanges.
Expectations are high for how coinbook will utilize blockchain technology to change the Japanese entertainment industry. If you are interested in the exchange’s efforts and IEO, why not consider opening an account?