Oasys is a gaming-centric blockchain that has been quietly rising into a position of strength for some time. Now, Oasys has completed a strategic funding round and public token sale that will propel them forward in 2023.
I first identified Oasys as a potentially important part of blockchain gaming at the start of 2022 upon seeing their founding team. There were a lot of technical pieces in place that also showed promise and so I have been following them ever since. This year we have seen Oasys partner with all manner of gaming titans such as Square Enix, Sega, BANDAI NAMCO, and more.
Oasys is certainly not the most famous of the blockchains focused on gaming — they’re someway down the list when judged on public perception alone. However, that is no indication of their weight and potential. In fact, Oasys has had one of the strongest 12 months of any major chain in what has been a more than a challenging year.
In an announcement this week, Oasys made public the success of a strategic funding round with participation from South Korean games publisher, Nexon, as well as one of the most active VCs in Web3 gaming, Galaxy Interactive. I focused on Galaxy Interactive several times in 2021 as they raised hundreds of millions of dollars and made many investments in companies in the space. As of the time of writing this article, Galaxy Interactive’s investment in the Web3 gaming sector is north of $800 million.
Oasys shares our vision to increase mainstream adoption of blockchain gaming, through its public L1 and private L2 solution built for game developers and users. We’re thrilled to join the Oasys community, and work alongside passionate publishers, developers, and crypto-native partners to bring legacy gaming IPs on-chain and execute this vision.
— Richard Kim, General Partner at Galaxy Interactive
Although it is the objective of many chains and ecosystems in Web3 to onboard gaming’s movers and shakers, 2022 has done little to instill confidence in gamers and companies outside of crypto. Many of the major gaming organizations are already working on utilizing blockchain technology, whether they have made the information public or not, but blockchains are now having to go further to demonstrate security. Interestingly, this was a focal point of Daiki Moriyama, Director at Oasys:
The wake of the recent incidents in the Web3 industry have emphasized the importance of building a decentralized and robust business — one premised on creating quality games and gaming content. Through the support and valuable expertise of leading game developers, the largest institutional backers in Web 3, and individual investors from all over the world, we will bring about a new breed of blockchain games with the gameplay and unparalleled experience the community desires.
— Daiki Moriyama, Director at Oasys
Oasys is certainly one to watch in 2023 and will be featured in my article on that very subject. This investment round, paired with the public token sale which hit its funding goal in just 12 hours, indicates that Oasys is on a full-court press while many others are trying to run down the clock until this crypto winter subsides.