OAS token price skyrocketed last week after South Korea’s largest crypto exchange, Upbit, listed the coin associated with Japanese gaming blockchain Oasys. Upbit joins the ranks of other exchanges listing the native token, including Crypto.com, OKX, HTX, among others.
Founded in Japan and Singapore, Oasys is a decentralized platform supported by major players in the gaming industry, including Ubisoft and SEGA.
With its gaming-focused features, Oasys distinguishes itself in the crowded space through its architecture, which includes a primary layer-1 blockchain and an Ethereum-compatible layer-2 scaling solution. The platform's capabilities also enable each individual game to create its own unique version, or "Verse”.
In exclusive comments to Investing.com, Oasys shared that major game developers building on their platform is a game-changer. "The decision of major game developers to build on Oasys is transformative, paving the way for mass adoption of blockchain games by incorporating high-quality and popular IP titles," said Daiki Moriyama, Director at Oasys.
The move represents a major transition towards more scalable and user-friendly blockchain solutions in the gaming industry, he added.
By using Oasys's ecosystem, these games can benefit from faster transaction speeds and lower fees, upgrading the overall user experience.
"Integrating large-scale games increases the volume of transactions, which not only tests but also strengthens our ecosystem's capacity and stability," Daiki further explains.
Oasys is also optimistic about the upcoming listing of their tokens on Upbit.
"We are confident that the listing on Upbit reflects the expansion of the Oasys ecosystem and signifies medium to long-term growth expectations for the brand, driven by the future onboarding of major games, rather than mere speculation," they said.
This listing is expected to improve the liquidity of $OAS, making it more accessible to Korean investors.
OAS is the utility token of Oasys, offering staking as one of its primary functions. By staking their OAS tokens through Oasys Hub, users can earn rewards in the form of additional OAS tokens and other rewards from validator-run campaigns. Moreover, OAS holders can participate in the platform's decentralized governance system.
Oasys was created to address two major issues in the blockchain world: high gas fees and slow transaction speeds. Despite being a relatively new player in the market, Oasys shares its goals with infrastructure developers like Solana, Avalanche, and Polygon, all striving for a scalable blockchain ecosystem.