The company will now be one of the operators in responsibility of verifying transactions on the Oasys Network and joining metaverse news.
SoftBank, a Japanese investment company, has joined Oasys Network’s validator network. This makes the number of Asian businesses on the network grow. Japan’s SEGA, Square Enix, and Bandai NAMCO are all node validators on Oasys. So is Netmarble, a mobile game publisher from South Korea. Netmarble joined the network of validators, which now has 25 members, in March of last year.
The French video game publisher Ubisoft and the play-to-earn games studio Yield Guild Games, which is backed by a16z, are also important validators on the network.
SoftBank has been one of the most active venture investors in the web3 space. Through its Vision 2 Fund, it has backed both blockchain gaming projects and infrastructure projects. The proof-of-stake blockchain network wants to grow its presence in the industry, and this collaboration is the start of a bigger collaboration with it.
In a press release on Thursday, SoftBank’s senior vice president and CIO, Keiichi Makizono, praised Oasys’ blockchain technology for being useful for both users and owners of intellectual property. He also said that the two firms will work together “to explore the development of blockchain-based services for the gaming industry.”
A validator is a computer that verifies transactions on the blockchain to keep the network safe and secure. When entities stake their tokens, they become node validators.
Oasys is a web3 firm founded in Japan by the same team that launched the popular web3 gaming project DoubleJump.tokyo. Oasys has more than a dozen games after launching its blockchain mainnet protocol and raising $21 million during a token sale that ended in December last year.
Following last year’s market decline, SoftBank’s decision to join the validator network is considered as a major boost for the crypto business.
Oasys is taking steps to shift from a centralised private entity to adopt a decentralised autonomous organisation (DAO) model. By staking the project’s governance token, members of the community gain ownership of the project.
Cover Image Source: decrypt.co
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