Gaming Network Oasys Onboards Japan Conglomerate SoftBank as Network Validator

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Japanese conglomerate SoftBank will become an official network validator on Oasys and will explore further collaborations with the gaming blockchain, including the development of blockchain-based services, according to a release shared with CoinDesk.

SoftBank said Oasys' advanced technological capabilities served both users and intellectual property holders.

Bandai Namco Research, SEGA, Square Enix and Netmarble are among the 21 initial validators for Oasys. Softbank added alongside three more companies, taking the total to 25. Network validators are entities that verify transactions on any blockchain network, helping keep it secure.

Softbank was an active investor in crypto projects last year. In April it led a $16 million round into Community Gaming, which looks to bring crypto into eSports. It also backed a $300 million Web3 fund in conjunction with Deutsche Telekom in September.

In just over a year since its formation, Oasys has fully launched its mainnet blockchain protocol, with over a dozen playable games available. Oasys raised $21 million in a token sale that ended mid-December. On Jan. 31, it announced plans to list on the Japanese crypto exchange Bitbank.

In January Oasys announced a plan to gradually shift its Singapore-registered entity into a decentralized autonomous organization (DAO). This phased approach, the company said, will gradually delegate decision-making authority to Oasys tokenholders in a democratic and transparent manner, helping the firm avoid what it calls "centralization risk."

Oasys's OAS token was up 11% at 10 cents at the time of writing.

UPDATE (Feb. 16, 10:37 UTC): Updates throughout.