SoftBank joins gaming-focused blockchain Oasys as validator • TechCrunch

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As many observers question what real value blockchain can bring to video games, a conglomerate is filling the space. SoftBank Corp, the telecom operator arm of SoftBank Group, has joined Oasys, a blockchain designed for video games, as a validator.

A validator is a node or computer that helps verify transactions added to a blockchain, keeping the decentralized network stable and secure. In return, it receives tokens for its work. It is also allowed to participate in management decisions of the network.

Similar to the popular Ethereum network, Oasys uses the proof-of-stake method to validate transactions, which requires network participants to “stake” their tokens. That’s a contrast to Bitcoin’s proof-of-work mechanism, which consumes computing power and is criticized for its environmental impact.

To date, over a dozen games are available on Oasys. A blockchain game can include elements of blockchain technologies such as cryptocurrencies and non-fungible tokens that allow users to own and trade in-game assets on the blockchain, which is often the point of contention in the gaming world: Why do you need to have your in-game assets on the blockchain?

The announcement of the collaboration is vaguely worded, saying only that SoftBank and Oasys “will work together to explore the development of blockchain-based services for the gaming industry.” Keiichi Makizono, senior vice president and CIO of SoftBank, adds that the company “see[s] looking forward to working with Oasys to advance Web3’s social implementation and solve social problems.”

Nevertheless, it is a vote of confidence from the Japanese telecoms giant in an industry that has been plagued by market turbulence over the past year.

SoftBank joins a pool of 21 validators for Oasys, including Square Enix, developer of the Final Fantasy series; Bandai Namco Research, a research arm of the Japanese entertainment conglomerate; SEGA, a Japanese console giant; French gaming group Ubisoft; and Yield Guild Games, an a16z-backed play-to-earn game studio.

In the long term, Oasys plans to make its network more decentralized by “enabling public participation through a council and removing the limit on the number of validator seats as long as the necessary requirements are met,” the announcement said.