Gaming blockchain developer Oasys secures $20M in private token sale

Gaming blockchain developer Oasys secures $20M in private token sale

Oasys, a gaming startup based out of Japan and Singapore that is developing a blockchain for the gaming community, has reportedly raised $20 million in a round led by Republic Capital. The round also saw participation from Jump Crypto, Huobi,, Kucoin, Bitbank, Mirana Ventures, and

Daiki Moriyama, director at Oasys, stated that instead of a standard equity round, the investment was raised with the help of a private token sale, which will not dilute the equity of its project, which the firm fully believes in, while allowing Oasys to reach out to a wider range of backers than a conventional equity fundraiser can.

As per the executive, although the founding team has strong ties to the Japanese game sector, Singapore was chosen as the company's second location because Japan had regulatory concerns involving crypto assets.

For the uninitiated, over the recent years, Singapore has emerged as Asia's crypto hub.

Presently, high gas fees, the costs involved when a transaction is incorporated into a blockchain, and slow transactions are among the main challenges faced by blockchain-based applications. Infrastructure developers such as Solana, Polygon, and Avalanche are attempting to increase the scalability of blockchain services.

The five-month-old Oasys has the same objective. According to Moriyama, the majority of games need to be extremely scalable, have quick transaction times, and charge consumers little to no gas fees in order to be considered fun or good in the blockchain.

With the additional funding, Oasys intends to fortify its alliances with game producers, digital asset exchanges, and other players in the gaming and cryptocurrency industries.

Additionally, Oasys will use the funds for employment, company development, and marketing. The firm has around 20 staff across Japan, Singapore, the US, and South Korea.

In the long run, Oasys wants to become a decentralized autonomous organization or DAO and give its community more control over governance. A DAO has no central authority as well as it relies on smart contracts built on the blockchain to carry out decisions approved by the community, as compared to a traditional corporation, which has a board of directors who determine the company's direction.

Oasys is working diligently to list its tokens on several cryptocurrency exchanges.

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Omkar Patwardhan started his professional career in the hospitality industry. Having nurtured a deep-sated passion for words however, he found his way into content writing and now pens down articles for numerous websites, including News Origins, spanning the sectors of business, finance, and technology.