> For the complete documentation index, see [llms.txt](https://matsuri.gitbook.io/whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://matsuri.gitbook.io/whitepaper/en/matsuri-whitepaper-en.md).
# Matsuri Whitepaper (EN)
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## Matsuri: Vision
### Happiness to Everyone
Matsuri is a project that connects people around the world through events, culture, and communities, creating more places where people can enjoy themselves together, connect with one another, and share happiness.
Our goal is to spread the spirit of traditional Japanese “matsuri” around the world, deepen human connection, and fill the world with excitement.
A matsuri is not simply a gathering of people. There are people who watch, people who dance, people who carry, people who support, and people who cheer. People with different roles come together in the same place, share the same time, and everyone present becomes part of the matsuri. Matsuri Foundation aims to bring this kind of happiness to people around the world.
### Filling the World with Matsuri
We aim to fill the world with Matsuri. We will spread the sense of unity, celebration, excitement, and community that traditional Japanese matsuri carries. Across borders, languages, and cultures, we will create more places where people can laugh, dance, eat, cheer, and connect in the same space.
Somewhere in the world, someone is hosting a Matsuri.
Somewhere in the world, someone is using Matsuri Pay, joining an event, inviting a friend, and becoming part of a community.
Somewhere in the world, artists, cosplayers, KOLs, vendors, sponsors, and fans are creating the same space together.
Realizing this state is the goal of Matsuri Foundation.
### The Mission of Matsuri Foundation
Matsuri Foundation directly addresses the modern issues of isolation, lack of communication, and, more broadly, a lack of shared excitement.
People now have more ways to connect through social media and streaming. Yet opportunities to share real excitement in physical spaces have become increasingly rare.
Matsuri Foundation uses payment solutions, event operations, and sponsor partnerships to create a new form of Matsuri across both physical and digital spaces.
Matsuri Foundation has already demonstrated this vision in real-world settings through events such as Matsuri in Manila. Going forward, by combining Matsuri Pay, payments, card issuance, referrals, and token utility, we aim to ensure that the excitement of an event does not end in a single day, but instead develops into a continuing Matsuri economy.
## The Ambition of Matsuri Foundation
MATSURI in Manila 2026
### Not “Festival,” but “Matsuri”
Matsuri Foundation aims to make “Matsuri” a globally recognized word.
“Matsuri” does not merely mean an event. It carries the spirituality, unity, community, and excitement found in Japanese festivals.
We are committed to using the Japanese word “Matsuri” itself, rather than existing words such as “festival” or “carnival.” This reflects our desire to share the essence of Japanese culture with the world and promote cross-cultural understanding.
At the same time, Matsuri is not a one-way export of Japanese culture. The Philippines has its own Matsuri, Japan has its own Matsuri, and each region can create its own Matsuri by blending anime, music, food, and local culture.
Matsuri Foundation provides the brand, structure, payment experience, and community at the center of this movement.
By creating a world where people connect through the word “Matsuri,” respect each other’s cultures, and share joy together, Matsuri Foundation aims to contribute to world peace through the spirit of matsuri.
## Matsuri 3.0
Matsuri Foundation proposes “Matsuri 3.0,” an updated concept of traditional matsuri powered by Web3 technology.
Matsuri 1.0 refers to traditional, community-rooted festivals. These were supported across generations by shrines, local communities, and neighborhood associations.
Matsuri 2.0 refers to modern events. Music festivals, anime events, cosplay events, and streaming have created forms of participation that reach a much wider audience.
Matsuri 3.0 is a model that allows the excitement of real-world events to continue through payments, tokens, and communities. It designs the experience before, during, and after the event as one connected flow.
A system where participants, organizers, vendors, artists, sponsors, and token holders can all engage with the event experience from their own positions before and after the event — this is Matsuri 3.0.
Matsuri 3.0 does not fully depend on a centralized organizer. At the same time, it does not begin by simply claiming to be a formal DAO.
In the early stage, Matsuri Foundation will act as the driving force, building events, sponsor relationships, Matsuri Pay, MATSURI token utility, and partnerships. As the project matures, community participation will be gradually introduced into the operation.
Matsuri 3.0 aims to become an open platform where anyone can create, join, support, and enjoy Matsuri.
Matsuri events taking place simultaneously around the world, across online and offline spaces, with their excitement continuing through Matsuri Pay and the token economy — this is the state Matsuri 3.0 aims to achieve.
## Backstory
**A Very Interesting and Famous Video**\
\
Humanity and festivals are deeply connected.
Throughout human history, festivals have always played an important role. They expressed awe toward nature and faith, connected harvests and death with gods and local communities, and above all, served as places where people danced, celebrated, and shared joy together.
Festivals have changed their form across time and regions. Religious rituals, community traditions, urban festivals, music and anime events, and online movements all differ in form, but the essence of festivals remains the same.
People gather, excitement is born, and that excitement spreads. Those who were watching eventually become participants.
Festivals have always shortened the invisible distance between people.
Yet in modern society, due to technological progress, globalization, social maturity, urbanization, individualization, and many other factors, human connections are becoming weaker.
People can now connect with anyone online, but sharing the same time and place in the real world has become increasingly rare.
Matsuri Foundation redefines the value of festivals precisely because of this era. Festivals are not merely culture from the past. They are a mechanism that society needs more than ever. Festivals gather people, create excitement, cross language barriers, and turn observers into participants.
## The Essential Value of Matsuri
We believe that matsuri has the following essential values.
### Passion: The Power of the Individual
Matsuri begins with the passion of each individual. The first person to stand up may be an experienced organizer. It may also be a shop owner, a creator, or a fan. Anyone can become the starting point.
One person’s desire to make something happen spreads to others, moves people, and eventually creates a larger place.
The diversity and energy of matsuri come from this individual power. One person’s passion can bring together friends, vendors, sponsors, visitors, and a community.
Matsuri Foundation believes in this power of the individual.
In Matsuri 3.0, everyone from initiators and participants to referrers, artists, sponsors, and token holders can be involved in their own way. Matsuri is not created only by large organizers. Individuals and small communities with passion can become the starting point of Matsuri.
### Excitement: The Power of the Collective
At the center of matsuri is collective excitement. The excitement of one individual spreads to the group, and the energy of the group spreads even further. The process is almost like a chain reaction.
When someone begins to dance amid music and cheers, the person next to them, who was only watching moments earlier, may naturally join in. Matsuri has the power to turn people into participants.
Matsuri Foundation will not let this excitement end in a single day.
Through Matsuri Pay, the excitement of the event remains in the app. Tickets, payments, card issuance, referrals, and token utility connect that excitement to the next participation.
Excitement should not end as a memory. It should connect to the next event, the next community, and the next economic activity.
### Communication Beyond Language
The magic of matsuri lies in its ability to connect people beyond language barriers.
Cheers, music, dance, costumes, food, and facial expressions. The excitement and joy experienced together do not require language.
Even when people speak different languages, they can move to the same music, love the same character, and cheer for the same stage.
Matsuri Foundation aims to expand this form of communication beyond language.
People from Asia and around the world gather under Matsuri, bring their own cultures, and understand one another. Matsuri is an experience that communicates before it is translated.
## Compatibility Between Matsuri and Internet Culture
The ‘Matsuri’ internet meme from around 2005
Matsuri is not only a word for real-world gatherings. It also has strong potential on the internet.
In Japanese internet culture, when an event becomes widely discussed or creates a wave of excitement, people often call it a “matsuri.” It is a familiar meme-like word in Japan.
Online matsuri has a structure similar to real-world matsuri. Someone creates the spark, people gather, reactions spread, and a single event turns into excitement across the entire community. This is the same kind of chain of excitement that Matsuri Foundation aims to create, not only in physical spaces but also in digital spaces.
Web3, social media, memes, streaming, fan communities, and other digital fields are highly compatible with Matsuri.
Matsuri Foundation values both real-world events and internet culture.
We create excitement through real events, spread it online, preserve the connection with participants through Matsuri Pay, and connect it to continued participation through tokens and referral programs. This movement between real and digital spaces is one of the key characteristics of Matsuri 3.0.
## Existing Challenges and Solutions
### The Fusion of Matsuri and Fintech
In practical terms, event planners and organizers face many challenges.
Event management, staff coordination, venue costs, setup costs, advertising expenses, payments to performers, vendor management, fundraising, and cash flow all create pressure. Many organizers are forced to invest their own money while accepting significant risk.
This becomes a barrier to ambitious event planning.
Matsuri Foundation will actively address this issue.
We provide a platform that combines event operations with fintech. Through participation in Matsuri Foundation, we aim to provide tools for fast fundraising, token sale support, advance event revenue, sponsor coordination, venue payments, vendor settlement, and user referral initiatives.
This will help reduce cash flow pressure for organizers and create an environment where they can focus on their original creative work.
We aim to create a world where organizers are free from financial anxiety and can plan bold, innovative events.
### The Problem of Relationships Ending After Events
At many events, the relationship with visitors ends on the day of the event.
Ticketing, payments, social media, and sponsorships often remain separate touchpoints that end on the day or remain isolated from one another, making it difficult for organizers to maintain long-term relationships with visitors.
Matsuri Foundation solves this fragmentation.
Matsuri Pay brings tickets, payments, virtual cards, physical cards, referrals, benefits, and token utility into one central app.
Users buy tickets before the event, pay with Matsuri Pay on the day, issue cards when needed, and continue to interact with event announcements, benefits, and token lock initiatives after the event.
Events will no longer be one-day consumption experiences. They become relationships that lead to the next event, the next payment, and the next participation.
### Visualizing Sponsor Value
For sponsors, event sponsorship is an attractive marketing channel. However, in conventional sponsorship, the impact can be difficult to see.
Traditional sponsorships often focus on day-of-event measures such as logo placement, booths, and sampling, making it difficult to develop ongoing relationships.
By introducing Matsuri Pay, sponsor initiatives become more practical.
With Matsuri Pay, campaigns linked to venue payments, in-app coupons, card issuance campaigns, artist and KOL promotions, and post-event in-app announcements can be designed as one connected flow.
Sponsors can maintain contact with users not only on the event day, but also after the event.
Matsuri Foundation positions sponsors not merely as financial supporters, but as partners who help create the Matsuri experience.
## Organizational Structure
### Matsuri Foundation
Matsuri Foundation functions as the initiator of the project.
Its main roles include supporting event organizers around the world, managing the Matsuri brand, hosting events, coordinating sponsor partnerships, supporting fundraising, planning and operating Matsuri Pay, designing token utility, and forming partnerships.
In the stage of launching and driving the project forward, we will act in a leading and centralized role.
Matsuri Pay, card issuance, peso deposits and withdrawals, sponsor coordination, token lock initiatives, and referral programs require practical coordination and responsibility. For this reason, Matsuri Foundation will play a central role in the early phase.
However, Matsuri does not belong only to the Foundation.
Organizers, vendors, artists, KOLs, token holders, and many other participants will help Matsuri grow.
As Matsuri expands, we aim to gradually transition toward more community-participatory operations.
### Cosplay Token Project（COT）
COT is a project with strengths in cosplay, anime, manga, and otaku culture.
Matsuri Foundation and COT became aligned in their vision, making COT the first partner of Matsuri Foundation.
COT deeply understands the power and potential of matsuri. Through its experience with anime and cosplay events, it will help embody the vision of Matsuri.
COT has knowledge in anime and cosplay, community operations, event planning, exchange-related operations, and related fields.
COT is the first partner of Matsuri and an early strategic partner.
Regarding community integration, we will respect the uniqueness of COT and the voice of its community while gradually moving toward integration.
## Matsuri Partnerships
### First Partner: Cosplay Token Project（COT）
Matsuri Foundation and COT became aligned in their vision, making COT the first partner of Matsuri Foundation.
COT is an important cultural field that Matsuri should connect with first: anime, cosplay, and otaku culture.
Anime and cosplay originated from Japanese culture, but they are already loved around the world. In the Philippines and many other countries, cosplay events, anime events, and fan communities already exist.
Matsuri Foundation will use this field as the starting point to expand Matsuri globally.
COT supports Matsuri’s early proof of concept through its knowledge in community operations, event partnerships, Web3, token operations, global expansion, and potential expansion into the Japanese market.
Matsuri Foundation will build the foundation of the Matsuri economy with COT as its first partner.
### Future Partnerships
Using COT as an initial success case, Matsuri Foundation will continue to collaborate with partners across entertainment, music, anime, cosplay, regional events, IP, sponsorship, payments, card issuance, Web3 projects, and other fields.
Matsuri Foundation will form the Matsuri Alliance.
The Matsuri Alliance is a network of partners involved in Matsuri. It may include event organizers, sponsors, IP holders, artists, KOLs, cosplayers, vendors, payment partners, card issuance partners, Web3 projects, exchanges, and regional organizations.
Matsuri Foundation alone cannot create Matsuri around the world. Cooperation with local partners, cultural leaders, and event organizers is essential.
Through the Matsuri Alliance, Matsuri Foundation will connect events, communities, sponsors, IP, and payments around the world.
## Matsuri in Manila
### Matsuri in Manila 2025
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On May 10–11, 2025, we hosted the large-scale offline event “Matsuri in Manila 2025” in Manila, Philippines.
More than 25,000 participants from around the world attended the event, which concluded with great success.
The venue, Rizal Park, is one of the largest urban parks in the Philippines and is named after José Rizal, the national hero of Philippine independence. It is a symbolic place where diverse cultures, food, and music intersect, making it a fitting location for Matsuri’s first large-scale proof of concept.
At the venue, many programs, stage events, international food stalls, cosplay, music, anime, and food culture came together, allowing visitors to experience the atmosphere of Matsuri in their own way.
Matsuri in Manila 2025 was the first major attempt to turn Matsuri Foundation’s vision of “a festival that connects the world” into a real-world event.
It showed that Matsuri is not merely a concept or online community, but a project with the power to gather people in the real world.
Matsuri Foundation expresses its gratitude to all participants, partners, sponsors, and everyone involved.
### Matsuri in Manila 2026
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Building on the success of 2025, Matsuri in Manila 2026 became an even broader event.
The expansion of sponsors, exhibitors, participating communities, and visitors shows that Matsuri is not a one-time event, but a sustainable brand.
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Event posters and venue images featuring major sponsors such as TOYOTA and ITO EN are important materials showing that Matsuri is a project that involves real companies, brands, and users.
After Matsuri in Manila 2026, Matsuri Foundation has already begun preparing for the next stage. Visitors will buy tickets, pay at the venue, issue cards, and continue to connect with Matsuri through the app after the event. By realizing this flow through Matsuri Pay, Matsuri will evolve from a one-time event into a continuing economy.
## Matsuri Pay
### What Is Matsuri Pay?
Matsuri Pay is the central app of the Matsuri economy.
Matsuri Pay aims to bring together event payments, wallets, tickets, card issuance, crypto integration, fiat deposits and withdrawals, referral programs, and token staking.
Before the event, users can purchase tickets and join campaigns. On the day of the event, they can make venue payments and use cards. After the event, they can receive benefits, referrals, future event announcements, and token utility. By integrating this flow into one app, Matsuri Pay keeps the relationship with event visitors alive.
Matsuri Pay is not created for the sake of building a financial app. Its purpose is to keep the Matsuri experience continuous.
Visitors remain in the app after the event, vendors receive digital payments, sponsors can maintain contact with users, artists can stay connected with fans, and token holders can remain connected to the economy. Matsuri Pay brings all of these together.
### Event Payments
Matsuri Pay supports payments at event venues.
Visitors can use Matsuri Pay for vendors, merchandise, and services within the venue. Vendors can manage sales and settlements more easily. Sponsors can run payment-linked campaigns.
Controlling payments at event venues is important for the Matsuri economy because it gives visitors, vendors, and sponsors reasons to use the app.
### Wallet and Crypto Integration
Matsuri Pay aims to be an app that is easy to use for both event participants and general users.
For users, what matters is that the app works, is easy to understand, offers benefits, and gives them a sense of participating in Matsuri. It should not feel complicated. Matsuri Pay prioritizes this experience.
### Virtual and Physical Card Issuance
Matsuri Pay plans to offer both virtual and physical card issuance.
Cards are a feature within Matsuri Pay. They are not offered as a separate independent brand, but as part of the Matsuri Pay experience.
Users can issue cards through Matsuri Pay and use them for payments at event venues and in everyday life.
A card is both a payment method and a proof of participation in Matsuri.
In the future, card designs and statuses may be expanded based on usage, event participation, community participation, token lock status, campaign participation, and other factors.
Limited design cards and special participation programs for artists, KOLs, cosplayers, and early participants are also under consideration.
However, these features will be introduced in stages. Rather than building complicated card ranks or benefits from the beginning, the priority is to first provide card issuance and payment experiences that actually work.
### Peso Deposits and Withdrawals
Matsuri Pay aims to introduce peso deposits and withdrawals in the Philippine market.
Creating a system where users can deposit Philippine pesos and use them for event venue payments and card payments will greatly increase the practicality of Matsuri Pay.
Matsuri Foundation will implement peso deposits and withdrawals, card issuance, and payment functions in cooperation with licensed partners, in accordance with the regulations and payment infrastructure of each country.
Peso deposits and withdrawals are an important function for Matsuri Pay to expand in the Philippine market.
Users can deposit in pesos, vendors can receive sales in pesos, and payments to artists and vendors can be linked with sponsor initiatives. This will allow Matsuri Pay to become an app that is actually used at event venues.
Matsuri Foundation positions the Philippines as the first proof-of-concept market for Matsuri Pay. By establishing models for peso deposits and withdrawals, venue payments, card issuance, and vendor settlement in the Philippines, Matsuri Foundation will use that knowledge to expand Matsuri Pay into other countries in accordance with local regulations and payment infrastructure.
### Ticket and Event Integration
Matsuri Pay also connects with ticket purchases and event benefits.
Users can purchase event tickets through Matsuri Pay, pay at the venue, and receive benefits and future event announcements after the event.
For event organizers, the benefit is being able to design ticket sales, visitor management, payments, and sponsor initiatives as one connected flow.
Tickets are the pre-event touchpoint, payments are the event-day touchpoint, and benefits and referrals are the post-event touchpoints. Matsuri Pay connects these three.
## The Matsuri Economy
### Creating the Matsuri Economy
Matsuri Foundation is building the Matsuri economy.
The Matsuri economy is a system where events, Matsuri Pay, tokens, sponsors, vendors, artists, and users are connected as one.
First, Matsuri Foundation hosts events. Visitors gather at those events, and visitors use Matsuri Pay. Within Matsuri Pay, payments, tickets, card issuance, referrals, benefits, and token lock initiatives are provided.
Payments occur at the venue, vendors receive sales, sponsors gain contact points with visitors, and users remain in the app after the event.
This flow prevents events from ending as one-day experiences.
Matsuri Foundation preserves the excitement of events within Matsuri Pay, and through Matsuri Pay connects that excitement to the next event, the next payment, and the next participation.
### The Circulation of the Matsuri Economy
The Matsuri economy begins with events hosted and supported by Matsuri Foundation, then connects to visitor use of Matsuri Pay, ticketing, venue payments, card issuance, referrals, sponsor and vendor touchpoints, token utility, and token lock initiatives.
As users return to future events and in-app initiatives, both the Matsuri brand and Matsuri Pay user base grow.
Creating this circulation is the core of Matsuri V2.
This section is intended to be visualized as a flywheel diagram showing the circulation among events, Matsuri Pay, tokens, sponsors, and participants.
### How MATSURI Token Value Is Formed
The value formation of MATSURI token within the Matsuri economy is supported not by short-term speculation, but by a combination of past achievements, future expectations, external trust, and monetization through Matsuri Pay.
First, Matsuri Foundation has a track record through Matsuri in Manila. The success of two real-world events, COT’s activity record, and sponsor relationships demonstrate that Matsuri is not merely a concept, but a project capable of gathering people and involving companies and communities in the real world.
Second, Matsuri Pay is the central app responsible for monetizing the Matsuri economy. By implementing event payments, card issuance, referral programs, fiat deposits and withdrawals, and ticket integration, Matsuri will move from relying only on event revenue to becoming a project with ongoing economic activity.
Third, external trust is important. Partnerships with global festivals, regional events, artists, creators, event organizers, and sponsor companies strengthen the credibility of Matsuri. By connecting with events that create excitement around the world, such as Nebuta, fire dance, music events, and cosplay events, Matsuri will become recognized not as the organizer of a single event, but as a brand that supports events around the world.
Matsuri Foundation will connect these achievements and expectations to Matsuri Pay, MATSURI token, sponsorships, and fundraising, aiming to expand the Matsuri economy.
### Circulation Between MATSURI Token and Matsuri Pay Revenue
Matsuri Foundation is considering using part of the revenue generated by Matsuri Pay to strengthen the MATSURI token economy.
Specifically, revenues from Matsuri Pay payments, card-related revenue, sponsor revenue, referral program revenue, and event-related revenue may be used for MATSURI token buybacks, liquidity enhancement, marketing, community incentives, staking reward reserves, and event support.
Through this design, the expansion of Matsuri Pay usage can lead to stronger MATSURI token utility, and as the number of MATSURI token holders grows, recognition of Matsuri Pay and Matsuri events can also increase.
The circulation Matsuri Foundation aims to create is as follows.
Recognition of Matsuri Pay increases, and the number of users grows.
Matsuri Pay revenue increases.
A portion of that revenue is reinvested into the MATSURI token economy.
MATSURI token utility and holding motivation increase.
MATSURI token holders participate in Matsuri Pay and events.
Recognition of the Matsuri brand increases further.
By creating this circulation, Matsuri Foundation aims to build a structure where events, payments, tokens, and communities grow together.
However, buybacks, staking rewards, and incentive designs will be implemented only after confirming legal regulations, tax treatment, securities considerations, financial conditions, and partner requirements. They do not guarantee future revenue, price appreciation, or profit distribution.
### Purchase and Staking Flow Through LP / Campaign Pages
Matsuri Foundation will develop landing pages and campaign pages to promote MATSURI token purchases and staking.
The LP will clearly present Matsuri Foundation’s past achievements, the success of Matsuri in Manila, sponsor exposure, partnership with COT, the concept of Matsuri Pay, MATSURI token utility, and staking plans.
Users will be able to understand the world of Matsuri through the LP and move toward purchasing MATSURI token and participating in staking.
This flow is important for increasing participation in the MATSURI economy even before the release of Matsuri Pay. After Matsuri Pay is released, the LP and in-app flow will be connected so that event participation, card issuance, referral programs, and staking can be designed as one integrated experience.
Matsuri Foundation positions MATSURI token purchases and staking not as mere financial actions, but as participation in the Matsuri economy.
### Fundraising and External Trust
Matsuri Foundation will conduct fundraising as necessary to expand Matsuri Pay, event development, sponsorships, and MATSURI token utility.
Fundraising is not only for covering development and operating costs. The involvement of external investors, companies, sponsors, and partners also strengthens the credibility of the project.
Having major companies, well-known brands, influential artists, creators, and event organizers use Matsuri strengthens the trustworthiness of Matsuri. This is not merely advertising; it shows that Matsuri is being used within real events, companies, and culture.
Matsuri Foundation will build social credibility by expanding relationships with sponsors, investors, event organizers, artists, and creators.
### Operational Efficiency and Incentive Resources
Matsuri Foundation emphasizes efficiency in development, management, marketing, and back-office operations.
With the development of AI technology, the costs required for development and back-office operations have dropped significantly compared with several years ago. Matsuri Foundation will use this environmental shift to build an organization capable of operating a large business with a small team.
If personnel and operating costs can be kept under control, more resources can be allocated to marketing, event support, MATSURI token incentives, sponsor initiatives, and Matsuri Pay development.
Matsuri Foundation will also supplement expertise across development, finance, events, sponsorship, Web3, and legal matters through board members, advisors, and partners with the necessary knowledge.
Matsuri Foundation aims to avoid excessive fixed costs and reinvest revenue and funds into the growth of the Matsuri economy.
### Open to Both Investors and Non-Investors
Matsuri is not a project only for investors. At the same time, it does not exclude investors.
Event participants, vendors, sponsors, artists, Matsuri Pay users, and token holders can all participate in Matsuri from different positions.
Matsuri Pay becomes the entry point.
People who simply enjoy events, people who use cards, people who invite friends, and people who hold tokens long-term and become deeply involved in the economy can all participate at different levels.
## Philippines First Strategy
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Matsuri Foundation positions the Philippines as its first priority market.
The Philippines has the track record of Matsuri in Manila. It also has relationships with COT and sponsors, a young population, and strong compatibility with events, music, anime, cosplay, and social media.
The Philippines has the key elements needed to prove Matsuri Pay: events, visitors, sponsors, the potential for peso deposits and withdrawals, and room to combine cards with payments.
Matsuri Foundation aims to establish the Matsuri Pay model in the Philippines and then expand to other regions.
### What We Will Implement in the Philippines
In the Philippine market, Matsuri Foundation aims to implement Matsuri Pay, peso deposits and withdrawals, event venue payments, virtual and physical card issuance, ticket integration, vendor settlement, referral programs, and token utility.
It is not necessary to implement all of these at once.
Matsuri Foundation will begin with simple functions. The priority is to make Matsuri Pay work as a payment app actually used at events.
After that, card issuance, referrals, token utility, and sponsor initiatives will be added in stages.
### Partner Integration
Matsuri Foundation will work with licensed partners in accordance with each country’s financial regulations.
For card issuance, payments, peso deposits and withdrawals, KYC, AML, and other functions, we will use external partner infrastructure when necessary.
What Matsuri Foundation prioritizes is the user experience.
From the user’s point of view, it should feel natural to open Matsuri Pay, deposit funds, make payments, use cards, and receive benefits.
The financial infrastructure behind the scenes will be built according to the regulations and partner structures of each country.
## Matsuri Token（$MATSURI）
Ticker: MATSURI
Maximum Supply: 100 billion
Chain: Ethereum Mainnet
Listed on: BTSE
Matsuri Token（$MATSURI）is the core utility token of the Matsuri economy.
MATSURI aims to connect with Matsuri Pay, events, referral programs, lock initiatives, sponsor initiatives, and community incentives.
The token is not merely a token to be held. It is designed to be used within the Matsuri economy and connected to participation conditions, benefits, and incentives.
### Listing Track Record
MATSURI token has met exchange listing criteria and is already listed on BTSE.
This shows that the token has gone through an external exchange review process and has market access.
However, exchange listing does not guarantee future price, liquidity, safety, or profitability.
### Event Support and Participation
MATSURI token will connect with events, communities, and cultural projects supported by Matsuri Foundation.
Matsuri Foundation aims to integrate MATSURI token into various touchpoints within Matsuri Pay, such as event benefits, priority access, campaign participation, card designs, sponsor initiatives, and referral programs.
This allows MATSURI token holders to participate more deeply in the Matsuri economy.
### Utility Within Matsuri Pay
MATSURI token will demonstrate its true value through the release of Matsuri Pay.
Potential use cases include use within Matsuri Pay, event benefits, participation requirements, MATSURI token lock initiatives, referral programs, community incentives, sponsor campaigns, and integration with limited cards and special programs.
We will not allow MATSURI token utility to rely only on speculative use cases. Instead, we will grow it as a utility used within events hosted and supported by Matsuri and inside Matsuri Pay.
### MATSURI Token Lock and Staking Concept
Matsuri Foundation is considering incentive designs for long-term MATSURI token holders and participants who remain involved in the Matsuri economy.
For example, participants who lock MATSURI tokens for a certain period may receive event benefits, in-app advantages within Matsuri Pay, limited card designs, sponsor campaigns, or access to community programs.
A portion of revenue from Matsuri events, Matsuri Pay-related revenue, sponsor revenue, and other sources may also be used as resources for ecosystem incentives.
Specific conditions, periods, amounts, eligible participants, funding sources, and distribution methods will be determined after confirming legal regulations, tax treatment, securities considerations, and terms of use in each jurisdiction.
Matsuri Foundation values simple ideas and simple implementation. We aim to create a system that is easy for users to understand and sustainable for operations.
### Benefits
Depending on MATSURI token holdings, holding period, lock status, Matsuri Pay usage, event participation, and other factors, users may receive priority access, limited benefits, card designs, sponsor campaigns, and other opportunities for events hosted or supported by Matsuri Foundation.
However, these benefits may change depending on legal regulations, operational conditions, and partner requirements.
## Referral / Affiliate Program
Matsuri Pay plans to introduce a referral program.
Both Matsuri and events spread when people invite other people. A friend’s invitation, an appearance by a favorite artist, or a recommendation from a KOL can all become natural motivations. Matsuri Pay incorporates these motivations into its system.
Referrers may receive MATSURI tokens or in-app benefits depending on the Matsuri Pay usage of the users they invite.
For example, when an invited user purchases a ticket, makes a venue payment, or uses a card, the referrer may receive incentives based on that usage.
This allows Matsuri Pay to grow through the community without relying too heavily on advertising costs.
The referral program may include limits, conditions, eligible regions, campaign periods, and eligible functions. The system may change depending on legal regulations and operational conditions.
### Ongoing Referral Incentives
Matsuri’s referral program is not limited to one-time campaigns.
The design under consideration allows referrers to benefit as invited users continue using Matsuri Pay, rather than ending with a single invitation.
Through this structure, referrers have a reason to spread Matsuri Pay. Users join Matsuri with their friends. Events bring people, and people bring more people.
The specific conditions and continuity of referral incentives will be designed flexibly based on legal regulations, operational conditions, and revenue structure.
## Revenue & Ecosystem Flywheel
Matsuri Foundation is preparing multiple revenue opportunities within the Matsuri economy.
These may include event revenue, ticket revenue, vendor fees, merchandise revenue, sponsor revenue, Matsuri Pay payment fees, card-related revenue opportunities, referral program revenue, partner initiatives, token project support, and community initiatives.
These revenues will be reinvested into Matsuri Pay development, event expansion, sponsor initiatives, MATSURI token utility, community incentives, liquidity support, partner acquisition, and global expansion.
Matsuri Foundation is considering using part of Matsuri Pay profits and related business revenue to strengthen the MATSURI token economy. This may include MATSURI token buybacks, staking reward reserves, marketing, liquidity enhancement, event support, and sponsor initiatives.
Recognition of Matsuri Pay increases, and users grow.
As users grow, payment and card-related revenue opportunities increase.
A portion of revenue is reinvested into the MATSURI token economy.
MATSURI token utility increases, and holders grow.
Holders participate in Matsuri Pay and events, further expanding recognition of the Matsuri brand.
Matsuri Foundation designs this circulation as the central structure of the Matsuri economy.
By expanding events, sponsors, partners, and regions, improving Matsuri Pay features and MATSURI token utility, and returning incentives to the community, a cycle is created toward the next visitors, payments, and sponsors.
Matsuri aims to transform events from one-time experiences into continuous circulation.
## Brand Strategy
Matsuri Foundation benchmarks Red Bull as it seeks to grow Matsuri into a global brand.
Red Bull did not become a global brand through beverages alone. It turned the brand itself into an experience through sports, music, events, athletes, video content, and culture.
Matsuri aims to move in the same direction.
With Matsuri Pay as the central product, the event axis includes festivals, music, anime, and cosplay. Ambassadors include artists, KOLs, cosplayers, and creators. Matsuri integrates these into one brand experience.
Matsuri Foundation will become a sponsor of events that create excitement around the world. This is not limited to its own events. Music events, anime events, cosplay events, regional festivals, fire dance, traditional festivals such as Nebuta, and any place that creates excitement can become part of Matsuri’s field.
Matsuri Foundation will not simply spend budget on online advertising. Instead, it will participate as a sponsor in real places where people gather and excitement is born. By supporting artists, creators, and event organizers, Matsuri connects that excitement to the Matsuri brand and Matsuri Pay.
Through this, Matsuri will evolve from “a project that hosts events” into “a brand that supports events around the world.”
### Collaboration with Artists, KOLs, and Cosplayers
Matsuri Foundation values collaboration with artists, KOLs, cosplayers, and creators.
They are not merely advertising figures; they are the people who shape the atmosphere of Matsuri.
Fans go to events, install apps, want the same cards, and join the same communities because people they love are participating and using them.
Matsuri Foundation values this emotion.
People use Matsuri Pay and join Matsuri events not only because the functions are convenient, but because they want to participate, because they love it, and because they want to be in the same place. This emotion is the connection point between Matsuri Pay and Matsuri events.
## Community and Governance
Matsuri Foundation welcomes existing organizations to participate, and also encourages new organizations that will emerge in the future to join.
Even if Matsuri Foundation demonstrates strong leadership, sustainable operations cannot be achieved if that leadership becomes overly forceful or self-centered.
As the first step toward gradual transition to community-led governance, we operate the Matsuri Community.
### Matsuri Community
The community that previously operated as the COT Project Community has been expanded into the Matsuri Community.
COT and Matsuri share the same destination. While respecting the uniqueness of the COT community, Matsuri Foundation will form a broader Matsuri Community.
The Matsuri Community will serve as a place for event planning, information sharing, partner coordination, campaigns, artist and KOL initiatives, and the promotion of Matsuri Pay.
Matsuri Foundation places community at the center of Matsuri.
## Hyperliquid Listing Strategy
Matsuri Foundation aims to list MATSURI token on Hyperliquid in the future in order to increase liquidity and global access.
Hyperliquid is one of the trading platforms used by crypto users around the world, and it is an important candidate for expanding touchpoints with Web3-native users. Making MATSURI token tradable on Hyperliquid would be a major step in bringing the Matsuri economy to a broader user base.
For a Hyperliquid listing, acquiring a listing slot through a Dutch auction format is expected. Matsuri Foundation will prepare for listing at the appropriate timing while confirming the necessary funds, community support, market environment, and legal, tax, and regulatory considerations.
MATSURI token is a utility token connected to Matsuri Pay, events, sponsor initiatives, referral programs, and staking concepts. Aiming for a Hyperliquid listing is not simply about increasing the number of trading venues. It is a strategy to connect Matsuri Pay adoption, the global expansion of Matsuri events, and broader recognition of MATSURI token.
Matsuri Foundation will build on its Matsuri in Manila track record, collaboration with COT, sponsor relationships, Matsuri Pay development, and global event expansion as it seeks broader access to major trading environments, including Hyperliquid.
However, a Hyperliquid listing depends on the auction result, market environment, technical requirements, legal regulations, financial conditions, community support, and other factors. Matsuri Foundation will proceed in stages while making the necessary confirmations.
Matsuri Foundation intends to allocate the funds it raises in 2026 to costs related to the Hyperliquid listing and related initiatives.
### Preparation Areas for Listing
In aiming for a Hyperliquid listing, Matsuri Foundation will work on MATSURI token awareness, liquidity, community formation, LP and campaign pages, Matsuri Pay integration flows, staking concepts, sponsor initiatives, and communication of event achievements.
The listing of MATSURI token should proceed in connection with the expansion of the Matsuri economy. Rather than simply expanding exchange access, we will strengthen the foundation supporting MATSURI token value by increasing the reasons for it to be used in Matsuri Pay and events.
Matsuri Foundation will first prove the Matsuri Pay and event integration model in the Philippines, and based on that track record, aim to expand into global markets including Hyperliquid.
## Roadmap
Matsuri Foundation will proceed according to the following flow.
### Foundation Phase（Completed）
Matsuri Foundation is established, and the vision, brand, token, and initial partnerships are organized.
Collaboration with COT begins, and Matsuri conducts proof-of-concept activities in anime, cosplay, and Web3 as the first strategic partner of Matsuri.
### Event Proof Phase（In Progress）
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Matsuri builds a real-world event track record centered on Matsuri in Manila.
By creating a place where visitors, sponsors, vendors, artists, cosplayers, and communities participate, Matsuri demonstrates that the brand can function in the real world.
Through event images, sponsor exposure, visitor numbers, and venue experiences, Matsuri builds social credibility.
Here as well, Matsuri inherits the knowledge COT has built through operating a cosplay sharing site and embodies the sharing economy of Matsuri.
### Matsuri Pay Design Phase（In Progress）
Matsuri Foundation defines the requirements for Matsuri Pay.
Payments, wallets, tickets, card issuance, peso deposits and withdrawals, referral programs, MATSURI token lock initiatives, and sponsor campaigns are organized, and implementation priorities are determined.
In this phase, Matsuri Foundation begins with simple functions. Rather than building complicated financial products or excessive features from the start, the priority is to make Matsuri Pay work as a payment app actually used at events.
### Partner Infrastructure Phase（In Progress）
Cure Holdings Limited, the operating entity behind COT, has signed a partnership with Reap, a Card-as-a-Service provider, and has already completed preparations for issuing Visa cards.
In accordance with the regulations of each country, Matsuri Foundation will work with payment providers, card issuance infrastructure providers, banks and BaaS providers, exchanges, and legal and tax professionals.
### Matsuri Pay Launch Phase（Preparing）
Matsuri Foundation will launch the initial version of Matsuri Pay.
The first implementation will focus on event integration, including tickets, payments, card issuance, referral programs, and basic MATSURI token utility.
The priority is to create a state where visitors actually use it, vendors actually receive payments, and sponsors can actually run initiatives.
### Ecosystem Expansion Phase（Planned）
Matsuri Foundation will increase Matsuri Pay users and expand the Matsuri economy.
It will expand to additional events, additional sponsors, additional partners, and additional regions.
MATSURI token utility will be expanded through token lock initiatives, referral programs, limited cards, event benefits, and community incentives in stages.
### Japan and Global Expansion Phase（Planned）
Based on the proof of concept in the Philippines, Matsuri Foundation will consider expansion into Japan and other countries and regions.
In the Japanese market, Matsuri Foundation will explore opportunities centered on anime, cosplay, regional events, inbound tourism, and IP partnerships by leveraging COT’s knowledge.
In global markets, Matsuri Foundation will work with partners in each country to create Matsuri experiences adapted to local cultures.
## Closing
「踊る阿呆に見る阿呆 同じ阿呆なら踊らにゃ損々」("The dancing fool and the watching fool—if we're all fools, we might as well dance!") — A famous chant from Japanese Matsuri.
Matsuri Foundation will spread Matsuri not as a mere event name, but as a place where people gather, share excitement, and create the next connection.
At Matsuri in Manila, many visitors gathered in the same venue and experienced Matsuri through food, music, cosplay, and stage performances in their own ways. What we aim to create is a state where this excitement does not end in one day, but continues into the next event, the next community, and the next challenge.
Matsuri Pay and MATSURI token are the mechanisms for that purpose.
People around the world will host, support, and enjoy Matsuri within their own regions and cultures. Matsuri Foundation will connect events, payments, communities, and tokens to realize that future.
Matsuri Foundation welcomes your participation.
## Links
Official Site: [https://matsuri.pay](https://matsuri.pay/)
Event: [https://fest.matsuri.top](https://fest.matsuri.top/)
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## Disclaimer
Please read the following disclaimer carefully regarding the whitepaper issued by Matsuri Foundation（hereinafter referred to as “Matsuri”）.
This whitepaper is for informational purposes only, and its contents may be changed.
The whitepaper contains forward-looking statements based on the current status of Matsuri. These statements may include expressions such as “may,” “believe,” “expect,” “aim,” “estimate,” “hope,” “plan,” “seek,” “strongly believe,” “possible,” “continue,” and “highly likely.”
These forward-looking statements involve risks and uncertainties. Therefore, Matsuri’s actual platform, Matsuri Pay, MATSURI token-related initiatives, and future results may differ significantly from what is described in this whitepaper.
This whitepaper does not guarantee the accuracy of the information or results described herein.
Matsuri makes no express or implied warranties, including but not limited to the following, and disclaims them:
* Warranty of merchantability, fitness for a particular purpose, description, or non-infringement
* Warranty that the contents of the document are accurate and free from error
* Warranty that the contents do not infringe the rights of third parties
Matsuri shall not be liable for any damages arising from the use of, reference to, or reliance on the contents of this whitepaper.
This whitepaper may include references to third-party data or industry publications. To the best of Matsuri’s knowledge, the reproduced facts are accurate and the assumptions or estimates are reasonable, but their accuracy cannot be guaranteed.
This whitepaper may contain information or guidance that could be interpreted as recommendations. However, it should not be construed as an offer of securities, investment solicitation, or solicitation to sell financial products.
MATSURI token does not represent shares, equity, ownership, debt, revenue rights, or dividend rights in Matsuri Foundation or any related company. MATSURI token does not grant rights to Matsuri’s capital or income. It also does not guarantee management rights, control rights, or legal governance rights over Matsuri.
MATSURI token is designed as a utility token used within the Matsuri economy. However, acquiring, holding, using, and trading MATSURI token involves many risks. Market prices may fluctuate, and listing on an exchange does not guarantee liquidity, price, safety, or profitability.
Payments, card issuance, peso deposits and withdrawals, referral programs, MATSURI token lock initiatives, and other functions in Matsuri Pay will be provided in accordance with regulations and partner structures in each jurisdiction. They are not guaranteed to be available in all regions or to all users.
Matsuri Pay functions may be changed or discontinued depending on development status, partner review, financial regulations, KYC, AML, laws, tax treatment, and market conditions.
MATSURI token lock initiatives, staking concepts, referral rewards, and incentive designs will be implemented after confirming laws, tax treatment, securities considerations, and terms of use in each jurisdiction. They do not guarantee future revenue, distribution, price appreciation, or profit.
If you are considering acquiring or using MATSURI token, you should confirm the laws, regulations, and tax treatment in your country of residence and consult professionals as necessary.
If you do not accept the platform and token risks, you should not consider acquiring MATSURI token.
Matsuri Foundation aims to spread Matsuri around the world under the vision of Happiness to Everyone. However, it does not guarantee future results, revenue, price, number of users, listings, partnerships, or regulatory approval.
In the event of any difference between language versions, the English version shall prevail. The latest version of this whitepaper shall always prevail.