TCOM Global (TCOM) in-depth research report: Paradigm shift in decentralized IP governance
—— The on-chain creation revolution starting from the IP universe of Osamu Tezuka
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1. Project background and core vision
TCOM Global is the world's first blockchain protocol focusing on decentralized IP governance, using 65 classic IPs of Japan's 'God of Manga' Osamu Tezuka (such as (Astro Boy)(Black Jack)) as initial assets to build an ecosystem that integrates creation, authorization, and value distribution. Its core goal is to address the three major pain points of the traditional IP derivative market through blockchain technology:
1. High barrier to entry for creation: Ordinary users find it difficult to participate in secondary creation of IP;
2. Complex authorization process: The profit-sharing mechanism between copyright holders and creators is opaque;
3. Value capture imbalance: Intermediate links erode most profits.
The project achieves 'community co-governance' of IP through on-chain voting, task incentives, and decentralized governance, allowing creators to directly share derivative value of their works.
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2. Analysis of token economic model
1. Token allocation and circulation
- Total supply: 1 billion tokens, initial circulation 9.2% (92 million tokens);
- Project party holdings: 6.7% (long-term locked, gradually released);
- Long-term ecological incentives: 0.5% (for community tasks and activities);
- Initial selling pressure chips: 2% (mainly for exchange market-making demand).
«Note: No private placement financing, no private round airdrop, token distribution is highly transparent, significantly reducing early selling pressure risk.»
2. Core functions of the token
TCOM token is the hub for value circulation within the ecosystem, possessing three roles:
- Governance credentials: Holders participate in on-chain voting for IP derivative works, deciding the direction of official authorization;
- Task incentives: Users earn points through creation, voting, and other activities, redeeming TCOM tokens;
- Revenue distribution anchor: Income from authorized works is automatically distributed to contributors based on on-chain recorded proportions.
3. Highlights of economic mechanism design
- Gas consumption is non-profit: Voting requires Gas (on BNB chain), but fees are allocated to the network rather than the project party, ensuring fairness;
- Points-token two-way bridge: Task points can be exchanged for TCOM according to rules, converting community participation into long-term governance rights;
- On-chain copyright distribution: Smart contracts automatically execute royalty distribution, reducing disputes (e.g., 30% of secondary creation revenue goes to the original author).
Table: Initial distribution structure of TCOM token
| Category | Ratio | Description |
|----------------|----------|------------------------------|
| Initial circulation | 9.2% | Circulation portion at exchange listing |
| Project party reserves | 6.7% | Phase-wise unlocking for ecological development |
| Long-term ecological incentives | 0.5% | Community task and activity rewards |
| Remaining unreleased | 83.6% | Gradually released through governance (e.g., DAO voting)|
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3. Market opportunities and competitive landscape
1. Trillion-dollar potential of the IP derivative market
The global anime IP derivative market exceeds $300 billion, but traditional centralized platforms (like Disney) have authorization processes that take months, and profit-sharing ratios are opaque. TCOM shortens the authorization cycle to within 72 hours through on-chain rapid voting and automatic distribution, increasing the profit-sharing ratio for creators to 50%-70% (traditional platforms only 15%-30%).
2. First-mover advantage: Osamu Tezuka IP matrix
The project has obtained official authorization from Osamu Tezuka's production company, covering 65 classic IPs that reach hundreds of millions of fans worldwide. The first activity will focus on (Astro Boy) and launch an on-chain creation competition, with winning works eligible for airdrops and entry into the official derivative merchandise library.
3. Competitive barriers: Binance ecosystem empowerment
- MVB Accelerator endorsement: Selected for Binance's 9th season MVB program (500 candidates for 16 spots), receiving technical, token model, and financing support;
- BNB chain infrastructure: Low Gas costs (about $0.1 per transaction) adapt to high-frequency creation interactions and benefit from Binance traffic entry;
- Alpha launch effect: The first batch of TCOM launched on the Binance Alpha platform attracts both early speculation and ecological participation funds.
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4. Risk and challenge assessment
1. Copyright compliance risk:
The legal boundaries of secondary creation must comply with regulations in various countries, and the project needs to establish a content review mechanism (e.g., community reporting + copyright holder final review).
2. Sustainability of token economics:
If ecological creation activity is insufficient, the token may fall into a 'governance-incentive' deadlock, requiring continuous attraction of quality IP to join.
3. Market competition intensifies:
Similar projects like AnimeCoin (supported by Sony) may capture market share; TCOM needs to accelerate the expansion of IP cooperation matrix (e.g., negotiating with Shueisha for IP).
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5. Investment strategy suggestions
1. Short-term trading opportunities (1-3 months)
- Initial volatility arbitrage: Gate.io and MEXC will launch on August 15 at 21:00 (UTC+8), with Binance Alpha opening simultaneously, expecting a liquidity siphoning effect, and attention may be paid to price differences between exchanges;
- Airdrop expectation game: If the project party releases a 2% token airdrop (unconfirmed), early users participating in on-chain voting/creation may gain excess returns.
2. Medium to long-term value layout (6 months+)
- Key indicators tracking:
- Transaction volume of IP derivatives: On-chain authorized merchandise sales exceeding one million dollars are a healthy signal for the ecosystem;
- DAO governance participation rate: A voting rate >20% indicates the community's activity level meets standards;
- Position management suggestion:
Initial allocation not exceeding 3% of total position, to be increased to 5% once ecological TVL (Total Value Locked) exceeds $5 million.
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6. Conclusion: An experiment coexisting with innovation and risk
TCOM Global attempts to reconstruct the IP industry value chain through blockchain, with its core innovation being:
✅ Transfer IP governance rights from the company to the community, achieving creator autonomy through token economics;
✅ Use smart contracts to replace intermediaries, improving efficiency and reducing costs;
✅ Activate the potential value of the long tail market with classic IP + on-chain creation.
Risk warning: The project's success heavily relies on community activity and IP expansion progress. If on-chain voting participation remains below 5%, the model's sustainability is in doubt. Investors are advised to participate in ecological development with small positions (such as creation voting) to capture both token appreciation and governance dividends.
«We are not selling NFTs, but building a new world of IP democratization.”
—— Core declaration of TCOM Global white paper»