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Nov 11

Why Oasys? Blockchain Gaming Infrastructure Brings New Experiences, Value and Investment Models

The following is an EN translation of an analysis report on Oasys created and published by HashHub Inc, a crypto asset and Web3 research company.


Premise

In this report, we will examine the current state of Oasys, a Layer 1 blockchain specifically designed for games, and explain what makes  Oasys an attractive and established brand  in the blockchain gaming industry.


Major game developers in Japan have already joined Oasys, and multiple blockchain games have been launched on the network, with the  Oasys ecosystem becoming more cohesive  and growing rapidly.


As the gaming population is on a trajectory  to reach  billions of players worldwide, games are increasingly competing with social media and short videos for disposable time. New games are not selling well, and the most popular games have remained the same for 10 years, with in-game items often getting lost or becoming unusable after service termination


Blockchain games (part of the broader GameFi segment) are attracting attention in the Web3 industry, but they have yet to reach mass adoption globally. This is due to several challenges, including saturation of the existing gaming market and  lack of game-specific user experiences on general-purpose blockchains. For blockchain games to be adopted by the general public, a paradigm shift is required to create  new values and experiences.


Oasys has gained a reputation not only in Japan but also globally for providing game-specific user experiences that are difficult to achieve with existing games and general-purpose blockchains, and for providing a mechanism for long-term use and utility of digital assets acquired in games. This approach emphasizes the value of the experience with Oasys providing a different appeal from traditional consumption-type entertainment.


In this report, we focus on the benefits of game developers on Oasys as well as deepening the current state of the Oasys ecosystem for readers interested in blockchain games.


From a macro perspective, Oasys is the best infrastructure to launch and engage with games based on the growth potential, investment trends in the blockchain gaming space and Oasys’ future outlook.


[Oasys Related Links]

Report Summary

  • This report covers Oasys’ strengths and growth potential in the context  of blockchain industry trends and gaming industry challenges, and highlights Oasys’ potential to establish itself as an infrastructure that meets current industry needs.

  • General-purpose blockchains are not optimized for games, making it difficult to develop specifically for each game. Additionally, it is difficult to sell new games and maintain user engagement in the mature game market, so building a sustainable business model is necessary.

  • Oasys runs more than 40 games and has a rapidly growing ecosystem with many Japanese companies and developers supporting the network as validators. It is in talks to list on major exchanges such as Binance in the future, which will increase the liquidity and visibility of the $OAS token.

  • Oasys plans to standardize common data standards and APIs, strengthen interoperability between Verses (Layer 2s), and build an infrastructure to seamlessly leverage digital assets across different games. Integrations with Arbitrum Orbit and enhanced DeFi capabilities will enable asset management within the ecosystem, further facilitating the effective use of digital assets.

  • An approach that naturally exposes Web2 users to Web3 elements and drives engagement is key to monetizing games. Champions Tactics and De: Lithe Last Memories are two games with  new revenue models in the mature game market that tokenize  assets through NFTsand expose users to immersive Web3 experiences. Oasys provides the right infrastructure for such play-to-earn and play-to-own models, with more  blockchain games to be deployed on Oasys in the future.


What is Oasys?

We provide a basic overview of Oasys in the linked  report below. It provides a more in-depth look at the current state and future of the ecosystem.



The following is a brief summary of the terminology you can expect to find in  this report.


Oasys Key Terms

  • Oasys: Layer 1 blockchain using EVM-compatible, game-specific Proof of Stake (PoS). Major game developers like BANDAI NAMCO, Sega, and Square Enix have joined the ecosystem. The second layer (Layer 2) is the foundation of the Verse layer where each blockchain game runs, providing data safety and strong security to optimize the gaming experience.

  • Verse: A Layer 2 with Oasys Hub serving as the layer 1 blockchain where each game developer and other third parties build and deploy their games. It has the flexibility to handle the high-speed processing required for gaming, a gasless experience, and the unique tokens specific to each project.

  • $OAS token: The key currency of the Oasys ecosystem, driving gas fees on Oasys, Verse development deposits, governance, and staking rewards.


The State of Oasys (Layer 1)

This section provides background and roadmap on why Oasys is able to provide a game-specific user experience.


The current map of Oasys validators shows several prominent names:


Credit: Oasys


The growth in the total unique active wallets, total transactions, and market capitalization of $OAS tokens from the launch of Oasys to the date of this report are as follows (from DappRadar):


  • Total unique active wallets: 41 million

  • Total transactions: 186 million


Market capitalization of $OAS tokens:


Data Availability Protects Your Digital Assets

Oasys data availability is an effort to take full advantage of the digital asset functionality that blockchain games bring.


Oasys records game data for each Verse, and participating validators are responsible for verifying data availability. It’s dedicated to security and is the destination for data recorded for each Verse.


In traditional games, there is a risk that in-game items won by users will be lost if development is interrupted or services are terminated. In blockchain games, items are recorded as digital assets on the blockchain, so there is no risk of losing them, but some gamers may feel that they cannot fully capitalize on their value if there is no place to use them.


Oasys is synchronizing digital assets from Verse Layer to Oasys Hub (layer 1) to create an infrastructure that can be used across different games. This will make it easier for game developers to design for interoperability, and allow users to leverage the same digital assets across multiple games, thus providing more opportunities for an uninterrupted gaming experience.

Author


This is an essential technology to protect players who invested time and money in their games as the most important.


Enhance Verse Interoperability

Verses onboard multiple blockchain games for each theme. Oasys currently has 12 Verses, and is working  on enhancing the unique experience of blockchain gaming by allowing them to seamlessly interoperate across the blockchain.

Credit: Oasys


By adopting common data standards and standardizing APIs, it’s easy to transfer digital assets acquired in a game, even between different Verses.


Maximizing Ecosystem Scalability

Verses must be launched independently by blockchain game developers and individuals as third parties. Technical support is essential to facilitate the launch of Verses.


Oasys provides a developer kit (Oasys VDK) that allows game developers to focus on content development and launch Verses faster. Companies and development teams can launch a Verse with  pre-configured tools, significantly reducing technical and human capital requirements.


In addition, Oasys has partnered with the Arbitrum Foundation to integrate Arbitrum Orbit, a layer 2 creation and deployment tool. This allows developers to launch a Verse using Arbitrum Orbit.


Arbitrum is a liquid ecosystem that plugs into the mature DeFi segment, and the partnership between Oasys and Arbitrum opens up the possibility of increasing the liquidity of a Verse.



Technology Roadmap

Oasys has developed a technology roadmap to support new users and game developers while focusing on the stability and scalability of the existing ecosystem.


The roadmap released in July 2024 focuses on:


Short-term (within a year)

  • Standardize common data standards and APIs

  • Apply standardized digital assets to current games and create new use cases

  • Releasing the Oasys VDK


Mid-term (2-3 years)

  • Implement the ability to synchronize digital assets in Verse to Layer 1

  • Enable interoperability between Verses

  • Provide development tools that enable game developers to autonomously meet their unique needs


In order to optimize the user experience of games in the Oasys ecosystem, we also need to strengthen partnerships with wallets, DeFi protocols, and other platforms and products. In the short term, we will create an environment conducive to launching Verses, and in the medium term, we will expand on the foundation we have built.



To join as an Oasys validator, launch a Verse, and deploy games, you can contact us using this form.


The Potential of $OAS Tokens

$OAS is the key currency of the Oasys ecosystem and drives the  overall growth of the ecosystem. In this section, we will explore the relation of $OAS tokens  to the value of game tokens in the Oasys ecosystem.


We will also consider how this affects the value of tokens given that $OAS is not currently listed on major exchanges such as Binance or Coinbase.


Value relation between game tokens and $OAS

Oasys provides an environment where game developers can issue their own game tokens for their projects. These game tokens acquire value by means of  transactions between players and from in-game use.


As game tokens are widely used in the ecosystem and their value is accumulated, they contribute  to strengthening the economic foundation of the Oasys ecosystem as a whole. This process can play a role in supporting the value of $OAS.

Author


As game tokens and assets accumulate in the Oasys ecosystem, a mechanism is in place to stabilize the value of $OAS and strengthen the foundation that drives its growth.


The Impact and Potential of Being Unlisted on Binance and Coinbase

As of this writing, $OAS is not listed on Binance or Coinbase, two of the world’s most influential crypto exchanges. This signifies a liquidity constraint, which is one of the reasons for the undervaluation.


However, $OAS is listed on the global leading crypto exchange Upbit in South Korea, and  several crypto exchanges in Japan. At the time of the Upbit listing, $OAS was up 44% compared to the previous day. Consecutively, a listing  on Binance or Coinbase will bring a lot of liquidity to $OAS, increasing the possibility of further price increase.


Current status of key Verses

Oasys Verse currently has over 40 game titles already launched, some of which are made possible by collaboration with popular IPs in Japan.

Credit: Oasys


Oasys has multiple games in each of its Verse economies. In this section, we’ll take a look at the top 3 Verses with the most cumulative wallet addresses (accounts) in each Verse Explorer, and give you an overview of their current status and popular games.


Chain Verse

Chain Verse is a Verse operated by game developer ChainGuardians. More than 3 million accounts have participated in this Verse, making it the most popular Verse. Among them, Chain Arena is popular.


Chain Arena is a Web3 unattended RPG game. It combines RPG elements with a mechanism that allows players to progress without being active. Items and characters that can be earned as game rewards can be traded as NFTs.


In the last 1 month, the number of unique active wallets has exceeded 30,000, and activity has been on the rise since August 2024.



TCG Verse

TCG Verse is a trading card game based Verse that offers multiple card and casual games. More than 2.5 million accounts have participated in the game.


At the time of writing, OasChoice is a popular game in which players vote on whether OAS prices will rise or fall, and if they answer correctly, OAS will be distributed to those who answer correctly.


In the last 1 month, the number of unique active wallets has grown rapidly to over 50,000. The simple game experience and the sustainable system that is funded by validator rewards (managed by CryptoGames) are the reasons for its popularity.



Saakuru Verse

Saakuru Verse is a consumer-facing Verse based on the concept of bridging from Web2 to Web3. It offers development tools, including SDKs and APIs with services specifically designed for developers who want to incorporate Web3 functionality into their existing games. More than 1 million accounts have joined and are active on the Verse.


One of the most popular games is an educational Play to Earn game called GOGA. [LINK1]The concept is an AI-powered, blockchain-based platform that allows users to learn English in a fun way.


With more than 34,000 unique active wallets in the last 1 month, the company is trying to combine gaming and education in the context of blockchain to offer an approach to user retention and marketing through the token economy.


See: GOGA


SG Verse

SG Verse is a Verse developed by doublejump.tokyo as an official Altlayer partner with essential capabilities for  the gaming experience. SG Verse is a highly anticipated Verse, with several upcoming hit titles.


SG Verse will deploy an ecosystem token called SG Coin (SGC). SGC can be used for in-game currency purchases and in-game content – two functionalities that will be implemented in the future. As tokens are expected to be issued in the run-up to the launch, there is significant interest in and focus on the upcoming Airdrop.


The most notable game title to be launched on SG Verse is Kai Sangokushi – Battle of Three Kingdoms. Yasuhiro Nishiyama, the creator of the Sangokushi series, oversaw the project, and while leveraging the Sangokushi games series, the game will be re-imagined as a blockchain game to bring out the fun of the gameplay.


The title was developed with an IP license from the major gaming company Sega, giving fans of Sangokushi a lot to look forward to


The title’s X account already has more than 30,000 followers, and over 140,000 people join the Telegram channel every month. In addition, the pre-registration event launched  on October 10, 2024, and as of November 3, the game has accumulated over 158,000 users, with an average daily active user count of over 16,000. By playing the mini-game released at  the pre-registration event, users can earn Bravery Points (BP), which can be converted into SGC tokens and received after launch.


Currently, in the mini-game Story 1, users can earn BP through quests and tasks to increase their BP rewards by leveling up the castle. The basic strategy of Story 1 is to earn BP as you prepare to acquire powerful warrior cards by acquiring warrior letters. The mini game is available online and as a  Telegram Mini-App 


The story goes through three phases, so you can earn BP more efficiently by participating in advance. If you’re interested in the Battle of the Three Kingdoms, or if you’re anticipating the SGC token airdrop, you’ll gain an advantage by joining early.


You can join the pre-registration event mini-game here and use the invitation code to earn additional BP based  on the number of people.



Overall, each Verse has a different ecosystem and a distinctive  roster of games and applications. Users can choose and play games based on their favorite Verse theme, and developers can create games based on that theme. Users also have the option to launch their own Verse.


If you want to explore the  games on Oasys’ Verses, you can visit  Oasys Navi or check out the latest games and Dapps campaigns on VersePort.


Competitor  Blockchains vs. Oasys

In this section, we will take a look at Immutable and Ronin, two of Oasys ’ most prominent competitors, and compare them to Oasys.


Immutable

Immutable has developed and operates two blockchain gaming and NFT platforms, Immutable X (zkRollup provided by StarkWare) and Immutable zkEVM.


Immutable X is not EVM-compatible and does not directly use Ethereum’s common smart contracts, but you can develop games using its SDK. Still, there were technical hurdles, so Immutable zkEVM was developed for EVM support and smart contracts.


According to Immutable’s official website, there are over 300 games available at the time of writing. According to DappRadar, there are about 2 million unique active wallets in total.Related Report: Illuvium (ILV) | Overview of ImmutableX Distributed RPG Illuvium


Ronin

Ronin is an EVM-compatible blockchain gaming platform developed by Sky Mavis, the company behind Axie Infinity. After the Ronin Bridge was hacked in 2022 for over 70 billion yen, the company issued a security update and continues to operate as a blockchain gaming platform.


Ronin zkEVM is currently under  development and running on a test net. In the future, each game will be able to deploy its own chain on Ronin. At the time of writing, there are 15 games in the Ronin ecosystem (20 or so before launch), mostly used by Axie Infinity, Pixels and other titles.


At the time of writing, the total number of unique active wallets is around 430 million, according to DappRadar.



The Advantages of Oasys

While Immutable is a dominant platform in terms of the number of games and Ronin in terms of the number of unique active wallets, Oasys boasts similar strengths and potential.


Immutable doesn’t allow you to create your own game-specific blockchain

Immutable offers two environments, Immutable X and Immutable zkEVM, but it doesn’t offer the ability to create a game-specific blockchain. Smart contracts are freely customizable, but they must adhere to the constraints of Immutable’s platform environment, and it can be difficult to achieve flexibility that uniquely fits a particular gaming ecosystem.


Oasys allows game developers to build on the Verses (Layer 2s) that already exist for each theme, or create their own Verses for their own games. This level of flexibility deeply reflects the unique economies and mechanisms that are specific to games.


Additionally, as  the Verses can work with each other, the ecosystem built for each Verse are interoperable , and players can  move digital assets without constraints , with the potential for seamless  and diverse player experiences.


Ronin Focuses  Users on a Few Games, Disadvantaging Latecomers

Ronin’s active users are primarily focused on Axie Infinity and Pixels. New games are also on the rise, but given the relatively small number of games available, it is difficult for latecomers to attract  users while some games hold the majority of the user base.


Oasys creates  a game economy around each Verse, and even for newcomers, it is easy to reach potential users because there are Verses for each theme.


Ronin zkEVM will allow each game to launch its own blockchain, but development is still ongoing, while  Oasys is ready to take the lead and grow this model.


Oasys Prospects Based on the Current Status of Games in the Web3 Ecosystem

In this section, we will look at the growth of games in the Web3 ecosystem, and the opportunities Oasys can take advantage of.


Gaming is a Growth-Driving Area in the Web3 Ecosystem

Based on the average number of daily unique active wallets per month by industry in Web3, gaming is following an upward trajectory along with AI. It is at 4.4 million daily active wallets, up about 20% from Q2 2024.


This growth trend can be attributed to the increasing number of cases in which traditional game companies have successfully improved profitability and user engagement by providing experiences that deploy  blockchain as an infrastructure. For example, game developer Ubisoft launched its first blockchain game in 2024.


Web3 entry success story finding a way in the game market with the inclusion of  Web3 elements


Champions Tactics

Champions Tactics launched on Home Verse in October 2024. Prior to the game launch, in December 2023, the company released a free NFT collection of 9,999 NFTs, and the rights to mint in-game characters.


As a result, even though the NFT collection was issued for free, at the time of writing it was trading at 0.03ETH (approximately ¥12,000), and the total volume of transactions has grown to over 3,300ETH (approximately ¥1.34 billion). The collection provides secondary sellers with up to 5% creator revenue (revenue for  NFT collection creators) per transaction. While some marketplaces offer 0 creator revenue, NFT trading has the potential to be a promising source of revenue depending on the collection and digital assets.



It is highly likely  that this success is driving not only higher NFT prices and transaction volumes, but also qualitative changes in user engagement. In addition to enjoying the game more, token holders also enjoy the experience of trading and collecting items that increase their value. This  promotes active engagement with the game and creates a user base that is more loyal than traditional users.


De:Lithe Last Memories

A second noteworthy use  case is that of De: Lithe Last Memories, a rogue-like action RPG that sold out 220 NFT Land plots and 1,000 NFT Dolls at the NFT Public Sale in July 2024. The success of the sale suggests that the key to monetization is to gradually transition Web2 users to Web2.5 users (users who have been exposed to Web3 elements such as NFTs and marketplaces) and then convert them to Web3 users.[LINK1]


De: Lithe Last Memories has an exhilarating and strategic appeal in addition to supporting  in-game purchases and a  collection of valuable NFT items. All elements are linked, creating a cycle in which players “Charge for fun and find future value in the items you get.” This creates a flow in which players go beyond simple consumption to acquire a sense of ownership of the item, and then make additional purchases in order to enhance it or acquire rare items.


 By providing Web2 users with the opportunity to naturally interact with Web3 elements as the game progresses, players develop a sense of ownership and attachment to the item, and as a result, higher billing rates and engagement are expected. De: Lithe Last Memories has become a popular game with more than 700,000 participants at the pre-registration stage due to its new revenue model utilizing NFTs. This is an example of how the gradual transition of users to Web3 can result in  high levels of commitment and contribute to higher revenues.


Companies that have been providing high-quality games for a long time are beginning to find a way to stand out in the saturated game market by using blockchain to provide new user experiences.


These  success stories suggest that the adoption of blockchain as an infrastructure is not just a temporary trend, but is becoming recognized as a profitable growth strategy in the game industry. This indicates a sign of change that will accelerate the trend  of more traditional game companies using blockchain as an infrastructure.


As new platforms emerge, such as Tap To Earn, a game that can be played on Telegram, the number of users is expected to increase as competition intensifies.



Furthermore, in Q3 2024, game platforms and infrastructure accounted for about 80% of the total investment in the blockchain game and metaverse sector, rather than individual games, indicating that infrastructure development is being emphasized.


In the future, there will be an even greater demand for game content that attracts a large number of users and an infrastructure that can flexibly design them.


Oasys Prospects Establish Unique Value as a Game Infrastructure That Does Not End with Consumption

As a game-specific blockchain, Oasys has the strength to enhance interoperability between Verses and provide a seamless user experience at the infrastructure level. This makes it easier to adapt to the current trend in the blockchain gaming industry, where the number of users increases and infrastructure is paramount, and to meet the long-term demand for game-specific infrastructure that is expected to grow.


In recent years, attention acquisition using tokens has become a trend in blockchain games, but many of these face sustainability challenges. For example, models such as Tap To Earn tend to be structured in a way that users spend time and effort but get a temporary reward, which erodes the original fun of gameplay and the value of digital assets. For this reason, we believe that there will be an increasing demand for gaming experiences that provide long-term value and do not end at mere consumption.


Oasys is a platform that is highly reliable in terms of security and sustainability, with major Japanese companies participating as validators.Oasys is thus able to retain and utilize digital assets acquired in games while supporting the growth of the ecosystem. This enables a new value experience and provides users with long-term asset value, unlike traditional short-term consumption entertainment. This value will bring out the inherent appeal of games, especially for the Web3 gaming audience, and will also contribute to user loyalty.


Blockchain games are a growing segment of the Web3 ecosystem globally. As a game-specific blockchain infrastructure, Oasys has helped traditional game developers enter Web3 for the first time, creating success stories like Champions Tactics. According to DappRadar, Oasys and its current Verses have amassed  150,000 unique active wallets and more than 3 million transactions in the last 1 month.


Another notable title, Battle of Three Kingdoms, has the potential to reach even more users due to SG Verse’s token-issuing expectations and collaboration with large IPs. In addition, more than 20 game titles are expected to be deployed on Oasys in the future.


Apart from game content, Oasys is also strengthening and augmenting DeFi. In September 2024, we launched Palmy Finance, a lending protocol, with  an opportunity to earn stable interest-based income using $OAS and other services. In TealSwap, Oasys ’ DEX, there is room for liquidity from the Arbitrum ecosystem through the Arbitrum Orbit integration, and there is potential for even more liquidity in DeFi Verse for DeFi traders and players. [LINK1]This way, the ecosystem is strengthening the environment where users can make efficient use of the profits generated from their digital assets on the blockchain.


Given that $OAS is not yet listed on major exchanges such as the globally influential Binance, we can expect further increases in global visibility and liquidity through such listings.


Therefore, Oasys is likely to gain traction not only in Japan but also globally, and establish a strong and unique position in the blockchain gaming industry.


Summary

In this report, we have looked at the current status of Oasys and explained how  Oasys is making a name for itself  in the blockchain game industry.


There may be multiple avenues for so-called mass adoption, but games remain one of the most likely options. As the leading infrastructure of choice for that component, Oasys will command even more attention in the blockchain gaming space.


Click on the links below to find more information on Oasys and join the ecosystem.


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