Oasys, a Web3, EVM-compatible, gamefi-focused blockchain project, launched the first phase of its mainnet on October 25th. The company, which has gathered support from AAA gaming companies such as Sega, Ubisoft, and Bandai Namco, will start validating blocks from all nodes in preparation for its definitive activation slated to happen on November 8th.
Oasys Launches Mainnet Operations
Oasys, a blockchain project that aims to serve gaming companies by offering fast transactions with zero fees, has taken its first step towards being fully operational. The company recently announced that it has launched the first phase of the activation of its mainnet, with validators in the network already talking to nodes and testing the main functions of the chain.
The validator set of the chain is composed of 21 companies, including AAA names like Sega, Bandai Namco, Square Enix, and Ubisoft. The full mainnet launch is predicted to happen on November 8th, when the chain will begin integrating the essential components of the system with the larger ecosystem.
Daiki Moriyama, director at Oasys, stated:
The Mainnet launch is a significant step forward in creating a fully-functional, public-led gaming blockchain that will transform the gaming future and give extensive value to players and game developers alike.
This launch comes after the company received an audit from Quantstamp, a smart security auditing company, certifying its smart contracts system works as intended. Oasys raised $20 million in a private token sale in July, with the participation of Republic Capital, Jump Crypto, Crypto.com, Huobi, Kucoin, and Gate.io. However, the company is still working to make its token available for general investors on several exchanges.
Oasys is looking to forge itself a place in the growing gamefi (the intersection of gaming and finance) market by offering a gamer-friendly chain that is promoted as ecological and fast, also taking the fees problem out of the equation. The sector is valued at $8 billion currently and is expected to grow exponentially, reaching a valuation of more than $50 billion by 2025.
Several companies have already partnered with Oasys to use its upcoming network as the basis for their Web3-involved projects. Among these is Sega, which will launch its first licensed blockchain game, to be developed by Double Jump Tokyo, using Oasys’ services to integrate Web3 elements.
Square Enix, another AAA gaming company, will also explore the development of blockchain-based games as part of a partnership with Oasys.
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