Japanese Internet conglomerate SoftBank will partner with Oasys game blockchain to verify network data
Japanese holding company SoftBank will become the validator of the Oasys game blockchain. This is reported by TechCrunch, citing an announcement from the venture capital giant. Details of the deal remain unclear, but SoftBank Vice President Keiichi Makizono said that the parties "will engage in the development of blockchain products for the gaming industry." What exactly is meant by blockchain products is not specified.
In addition to SoftBank, Oasys blockchain validators are Japanese gaming giants Bandai Namco Research, SEGA, Square Enix and others. Whether SoftBank plans to buy OAS tokens to act as the network validator is unclear.
The Oasys blockchain is based on a proof-of-stake algorithm (for example, the same one is deployed in the Ethereum network). This means that validators are needed to verify data, not miners, as in the case of the Bitcoin blockchain. To become a validator, you need to store a certain minimum of tokens and deploy software to verify blockchain data.
Amid the news, OAS quotations in the OAS/USDT trading pair jumped more than 12% to $0.1, according to CoinMarketCap. The token's diluted market capitalization rose to $1 billion.
In the summer of 2022, Oasys raised $20 million in an investment round from Republic Capital involving Jump Crypto, Crypto.com, Huobi, Kucoin, Gate.io, Bitbank and Mirana Ventures. Instead of a traditional private equity investment round, the capital came in the form of a private token sale. Oasys CEO Daiki Moriyama argued that this method of investment "allows it to reach a broader base of supporters than traditional fundraising."
In December 2022, Oasys announced two card-based video games on its blockchain: ChainArena and ChainGunnies. However, the games themselves do not differ much from their existing counterparts, except for an overemphasis on monetization of in-game experiences, as well as support for non-exchangeable tokens (NFT).