The veterans are from the gaming world. The trend appears irreversible at least for now, as investment keeps pouring into the industry, even if they do it out of a fear of missing out.
Oasys, a startup based in Japan and Singapore, has just raised 20 million dollars. The round was led by Republic Capital with participation from a number of companies.
Instead of a traditional equity round, the capital came in a private token sale, which allows us to reach a broader base of backers than a traditional equity raise will.
Singapore was chosen as the firm's other home because of Japan's regulatory issues withcryptocurrencies, an executive says. In the last few years, Singapore has emerged as a hub for digital currency.
Slow transactions and high gas fees are some of the biggest obstacles faced by applications that use a distributed ledger. The developers of infrastructure are trying to make the services more stable.
The same goal is shared by Oasys, just five months old. In order for games to be fun or good, they need to be fast and cheap to use.
A list of household names in the gaming world have been enlisted to be "validators" on the Oasys'Blockchain. The "proof-of-stake" consensus mechanism is an alternative to the "proof-of-work" method. In PoS, a validatorstakes its token in the network to make sure the data is valid.
Japanese entertainment conglomerate Bandai Namco Research, a research arm of the company, is one of the early validators.
Oasys hopes to allocate more governance power to its community in order to transition to a Decentralized Organization. A DAO has no central authority and relies on smart contracts to execute decisions agreed upon by the community.
Oasys plans to strengthen partnerships with game developers, digital asset exchanges, and others as a result of the new financial injection. The money will be spent on marketing and business development. There are 20 staff in Singapore, Japan, South Korea, and the US.
The fact that the investment team deems us worth investing in is likely to be highly valued by the listing team.
Oasys is trying to list its token on more than one exchange.
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