SoftBank Joins Oasys’ Blockchain Gaming Validator Network

Quick take:

• SoftBank has joined Oasys’ blockchain game validation network.
• The investment conglomerate joins a list of gaming giants including Square Enix, Netmarble and SEGA that are node validators.
• Node validators verify transactions on the blockchain by issuing tokens.

Japanese investment conglomerate SoftBank has joined a growing list of Asia-based companies on Oasys Network’s validator network. Japan-based gaming and entertainment giants SEGA, Square Enix and Bandai NAMCO are all node validators on Oasys, as is South Korea’s mobile game publisher Netmarble, which joined the now 25-member validator network last March.

Other notable validators on the network include French video game publisher, Ubisoft and a16z-backed play-to-earn game studio, Yield Guild Games.

SoftBank has been one of the most active venture investors in the web3 space supporting both blockchain games and infrastructure projects through the Vision 2 Fund. This partnership is the beginning of a larger collaboration with the proof-of-stake blockchain network as it seeks to expand its presence in the industry.

SoftBank praised Oasys’ blockchain technology for serving both users and intellectual property holders, adding that the two companies will work together “to explore the development of blockchain-based services for the gaming industry,” said Keiichi Makizono, senior vice president and CIO of SoftBank. a press release on Thursday.

SoftBank is particularly looking to help Oasys advance “Web3’s social implementation and solve social problems,” Makizono added.

A validator is a computer that verifies transactions on the blockchain and keeps the network safe and secure. Entities become node validators by staking their tokens.

Oasys is a Japan-based web3 startup created by the same team behind the popular web3 game project DoubleJump.tokyo. Oasys raised $21 million via a token sale that closed last December and now boasts over a dozen games after launching its blockchain mainnet protocol.

SoftBank’s decision to join the validator network is seen as a big boost for the crypto industry after last year’s market downturn.

Oasys is taking steps to shift from a centralized private entity to adopting a decentralized autonomous organization (DAO) model. A DAO gives members of the community ownership of the project by issuing the project’s governance token.

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