Original Author: HashHub Inc., a research company focused on crypto assets and Web3.
Introduction
Oasys is an L1 blockchain designed specifically for gaming. This report analyzes the current development status of the chain and explains how it has grown into a prominent and mature brand in the blockchain gaming sector.
Several top Japanese game developers have joined the Oasys network, launching a series of blockchain games. The cohesion of the Oasys ecosystem is continuously strengthening, with rapid growth momentum.
The number of global gamers has reached billions, and the gaming industry is competing with social media and short video platforms for user time. However, new game sales are sluggish, and the most popular games have been around for a decade, with in-game items often lost or unusable due to server shutdowns.
As a part of the broader GameFi ecosystem, blockchain gaming has garnered significant attention in the Web3 industry but has yet to achieve widespread global adoption. Challenges include market saturation and the lack of user experiences specifically designed for gaming on general-purpose blockchains. To bring blockchain games to the masses, a paradigm shift is necessary to create entirely new value and experiences.
Oasys offers a unique gaming experience that existing games and general-purpose blockchains find hard to match, establishing mechanisms that ensure the long-term utility of in-game digital assets, thus earning a good reputation in Japan and globally. This product strategy highlights the value of experience, providing an appeal distinct from traditional consumer entertainment.
This report is aimed at readers interested in the blockchain gaming market, focusing on the advantages of developing games on Oasys and examining the current development status of the Oasys ecosystem.
From a macro perspective, considering growth potential, investment trends in the blockchain gaming sector, and future outlook, Oasys is undoubtedly an ideal infrastructure for deploying and participating in games.
[Oasys Related Links]
· Official Website: https://www.oasys.games/
· White Paper: https://docs.oasys.games/docs/whitepaper/intro
· Explorer: https://explorer.oasys.games/
· X: https://x.com/oasys_games
· Discord: https://discord.com/invite/oasysgames
Report Summary
· This report analyzes Oasys's advantages and growth potential against the backdrop of trends in the blockchain industry and challenges in the gaming industry, highlighting Oasys's potential to meet industry demands as an infrastructure.
· General-purpose blockchains are not optimized for gaming, making it difficult to develop specifically for each game. Additionally, promoting new games and maintaining player enthusiasm in a mature gaming market poses challenges, necessitating the establishment of sustainable business models.
· Over 40 games have been deployed on Oasys, and the ecosystem is rapidly expanding, with numerous Japanese companies and developers supporting the network as validators. Oasys is negotiating future token listings with leading exchanges like Binance, which will enhance the liquidity and visibility of the $OAS token.
· Oasys plans to advance the standardization of general data standards and APIs to enhance interoperability between different Verses (Oasys L2 layers) and build infrastructure for the seamless transfer of digital assets across different games. Integration with Arbitrum Orbit and enhanced DeFi functionalities will support asset management within the ecosystem, further promoting the effective use of digital assets.
· Oasys facilitates Web2 users' exposure to Web3 elements through natural integration, driving user participation, which is key to monetizing games. For example, products like "Champions Tactics" and "De: Lithe Last Memories," both established in the mature gaming market, tokenize assets through NFTs, providing new revenue models and immersive Web3 user experiences. Oasys provides the appropriate infrastructure for such "play-to-earn" and "play-to-own" models, with expectations for more blockchain games to be deployed on Oasys in the future.
Overview of Oasys
The report linked below provides a basic overview of Oasys and delves into the current status and future development of the ecosystem.
Related Report: Overview of GameFi Blockchain Oasys (OAS)
Below is a brief explanation of the terms used in the report.
Key Terms of Oasys
· Oasys: An L1 blockchain that uses a PoS mechanism compatible with EVM, specifically tailored for gaming. Renowned game developers such as Bandai Namco, Sega, and Square Enix have joined this ecosystem. The L2 layer serves as the foundation for the Verse layer, where each blockchain game operates, providing data assurance and robust security to optimize the gaming experience.
· Verse: The L2 layer based on Oasys Hub as the L1 layer. Game developers and third parties can build and deploy games on the Verse. It is highly flexible, equipped with the high-speed processing capabilities and gas-free experience required for gaming, allowing each project to create its own dedicated token.
· $OAS Token: As a key token in the Oasys ecosystem, the uses of $OAS include paying for Oasys's gas fees, Verse development deposits, participating in governance, and distributing staking rewards.
Current Status of Oasys (L1)
This section explains how Oasys provides a user experience specifically designed for gaming through background information and a roadmap.
Among the current validators of Oasys are several well-known brands:
Source: Oasys
From the launch of Oasys to the publication of this report, the growth of the total number of independent active wallets, total transaction volume, and market capitalization of the $OAS token is as follows (data source: DappRadar):
· Total Independent Active Wallets: 41 million
· Total Transaction Volume: 186 million
Market Capitalization of $OAS Token:
https://www.coingecko.com/en/coins/oasys as of 2024/10/28
Data Availability Protects Your Digital Assets' Security
Oasys's data availability is dedicated to fully unleashing the potential of blockchain digital assets in gaming.
Oasys records game data for each Verse layer, with validators responsible for verifying data availability. It is committed to ensuring security, forming the repository for data recorded in each Verse layer.
In traditional games, in-game items obtained by players may disappear due to development interruptions or service terminations; however, in blockchain games, items are recorded on the chain as digital assets, eliminating the risk of loss. Yet, some players may feel that without places to use these assets, their value cannot be fully realized.
Oasys is synchronizing digital assets from the Verse layer to Oasys Hub (L1) to create infrastructure that can be used across games. This will enable game developers to more easily build interoperability designs, allowing users to leverage the same digital assets across different games, providing a more coherent gaming experience.
This technology is crucial for protecting the rights of players who have invested time and money.
Enhancing Verse Interoperability
Each themed Verse gathers multiple blockchain games. Oasys currently has 12 Verses, aiming to achieve seamless interoperability between them to enhance the unique experience of blockchain games.
Source: Oasys
By adopting universal data standards and standardized APIs, in-game digital assets can be easily transferred between different Verses.
Maximizing Ecosystem Scalability
Verses need to be independently initiated by game developers or third-party individuals, with technical support being essential in this process.
Oasys provides a Developer Kit (Oasys VDK), enabling game developers to focus on content creation and accelerate the launch process of Verses. Companies and development teams can utilize these pre-configured tools to launch Verses, significantly lowering the technical and human resource barriers.
Additionally, Oasys has partnered with the Arbitrum Foundation to integrate tools for creating and deploying L2s, Arbitrum Orbit, allowing developers to directly use Arbitrum Orbit to launch Verses.
Arbitrum is a liquidity ecosystem that connects the mature DeFi sector, and Oasys's collaboration with Arbitrum opens new possibilities for enhancing Verse liquidity.
Reference: Oasys Expands to Arbitrum, Adopting the Orbit Stack on the Verse Layer
Technical Roadmap
Oasys has established a technical roadmap to support new users and game developers while focusing on the stability and scalability of the existing ecosystem.
This roadmap, released in July 2024, emphasizes:
Short-term Goals (within one year)
· Standardization of general data standards and APIs
· Application of standardized digital assets to current games and creation of new use cases
· Release of Oasys VDK
Mid-term Goals (2-3 years)
· Achieve synchronization of digital assets in the Verse to the L1 layer
· Enable interoperability between Verses
· Provide development tools that allow game developers to independently meet various unique needs
To optimize the gaming experience within the Oasys ecosystem, it is also necessary to strengthen collaborations with wallets, DeFi protocols, and other platforms and products. In the short term, an environment conducive to launching Verses will be created, while in the mid-term, expansions will be made on the existing foundation.
Reference: Building the Future of Gaming: Oasys Technology Roadmap - From Consumption to Investment
Individuals interested in joining the Oasys validator network, launching Verses, and deploying games can contact us using this form.
Potential of the $OAS Token
As the core token of the Oasys ecosystem, $OAS is designed to drive the growth of the entire ecosystem. This section will explore the relationship between the $OAS token and the value of game tokens within the Oasys ecosystem.
We will also consider how this will affect token value, especially since $OAS has not yet been listed on major exchanges like Binance or Coinbase.
Value Relationship Between Game Tokens and $OAS
Oasys provides an environment for game developers to issue their own game tokens. These tokens gain value through player transactions and in-game usage.
As game tokens circulate widely within the Oasys ecosystem, their value gradually accumulates, thereby solidifying the economic foundation of the entire Oasys ecosystem. This mechanism will also support the value of $OAS.
With the continuous accumulation of game tokens and assets in the Oasys ecosystem, corresponding mechanisms will stabilize the value of $OAS, reinforcing its growth foundation.
Significance and Potential of Not Being Listed on Binance and Coinbase
As of the writing of this report, $OAS has not been listed on major global exchanges like Binance or Coinbase. This situation limits the token's liquidity and is one of the reasons for the undervaluation of $OAS.
However, $OAS has been listed on Upbit, a leading global exchange in South Korea, as well as several exchanges in Japan. On its first day of trading on Upbit, $OAS rose by 44% compared to the previous day. Therefore, if it can be listed on Binance or Coinbase in the future, it is expected to bring significant liquidity improvements to $OAS, enhancing its potential for further price increases.
Current Status of Major Verses
Oasys Verse has launched over 40 games, including collaborations with well-known Japanese IPs.
Source: Oasys
Each Verse in Oasys's economy features multiple games. This section will introduce the top three Verses with the most accumulated wallet addresses (accounts) in their respective Verse browsers, along with a brief overview of their status and popular games.
Chain Verse
Chain Verse is operated by the game development company ChainGuardians and has attracted over 3 million accounts, making it the most popular Verse currently. Among its offerings, “Chain Arena” is particularly favored by players.
This is a Web3 role-playing game (RPG) that cleverly combines RPG elements with a mechanism that allows progression without requiring players to be continuously online. Items and characters earned as game rewards can be traded as NFTs.
In the past month, the number of independent active wallets has exceeded 30,000, with activity steadily increasing since August 2024.
See: ChainArena-PentagonGames EXP
TCG Verse
TCG Verse focuses on the card trading game sector, offering a variety of card and casual games, with over 2.5 million participating accounts.
“OasChoice” is a popular game within TCG Verse, where players can vote to predict the rise and fall of OAS prices, with correct predictions earning OAS rewards.
In the past month, the number of independent active wallets has surged, now exceeding 50,000. The simple gaming experience and a sustainable system supported by validator rewards managed by CryptoGames are reasons for its popularity.
See: OasChoice
Saakuru Verse
As a consumer-oriented Verse, Saakuru Verse is dedicated to building a bridge from Web2 to Web3. It provides development tools such as SDKs and APIs, specifically designed for developers looking to integrate Web3 functionalities into existing games. This Verse has already attracted over a million accounts.
One of the most popular games is the educational play-to-earn game GOGA[link1]. This is an AI-driven, blockchain-based platform that helps users learn English in a fun way.
In the past month, the number of independent active wallets for this game has exceeded 34,000. The company aims to combine gaming and education within a blockchain context, promoting user retention and marketing through token economics.
See: GOGA
SG Verse
SG Verse is developed by doublejump.tokyo, an official partner of Altlayer, and possesses the key features required for a gaming experience. SG Verse is highly anticipated, with several popular games set to launch soon.
SG Verse will introduce an ecosystem token, SG Coin (SGC). SGC can be used for in-game currency purchases and content consumption in upcoming games. The token is expected to be released before the game launches, and the upcoming airdrop has generated significant interest.
The most anticipated game in SG Verse is “Koi - Romance of the Three Kingdoms.” This project is supervised by Yasuhiro Nishiyama, the creator of the Romance of the Three Kingdoms series, and will reinterpret the fun of the Romance of the Three Kingdoms games on-chain.
The game has received IP authorization from the well-known game company Sega, and fans of the Romance of the Three Kingdoms are eagerly looking forward to it.
https://prtimes.jp/main/html/rd/p/000000163.000034671.html
The game's X account has attracted over 30,000 followers, with more than 140,000 joining its Telegram channel each month. Since the pre-registration event launched on October 10, 2024, the game has accumulated over 158,000 users as of November 3, with an average daily active user count exceeding 16,000. Through mini-games released during the pre-registration event, users can earn bravery points (BP), which can be exchanged for SGC tokens once the game goes live.
Currently, in the mini-game "Story 1," users can earn BP by completing tasks and increase BP rewards by upgrading their castles. The basic strategy of "Story 1" is to collect general letters to obtain powerful general cards, thereby earning BP. This mini-game is a Telegram mini-program that can be played online.
https://lp.kai-sangokushi-taisen.games/pre-guidebook
The game story is divided into three stages, and early participation allows you to earn BP more efficiently. If you are interested in "Koi - Romance of the Three Kingdoms," or looking forward to the SGC token airdrop, joining early will give you an advantage.
https://lp.kai-sangokushi-taisen.games/pre-guidebook
You can participate in the pre-registration mini-game here and use the invitation code to earn more BP (the more you invite, the more you earn).
Overall, each Verse has a different ecosystem and a unique lineup of games and applications. Users can choose games from their favorite Verse themes, and developers can create games around those themes. Users can also choose to create their own Verse.
If you want to explore games on Oasys Verse, you can visit Oasys Navi or check out the latest games and Dapp activities on VersePort.
Competitive Blockchains vs. Oasys
This section will introduce Oasys's two main competitors, Immutable and Ronin, and compare them with Oasys.
Immutable
Immutable develops and operates two blockchain game and NFT platforms: Immutable X (which uses StarkWare's zkRollup technology) and Immutable zkEVM.
Immutable X is not EVM-compatible and cannot directly use Ethereum's universal smart contracts, but developers can use its SDK to develop games. Nevertheless, the technical barrier remains high, prompting Immutable to launch Immutable zkEVM, which supports EVM and smart contracts.
According to Immutable's official website, as of the writing of this report, over 300 games have been launched. DappRadar data shows that the total number of independent active wallets for these games is approximately 2 million.
Related report: Illuvium (ILV) | Overview of ImmutableX Distributed RPG Illuvium
Ronin
Ronin is an EVM-compatible blockchain game platform developed by Sky Mavis, the company behind "Axie Infinity." In 2022, the Ronin Bridge suffered a hack, resulting in a loss of over 70 billion yen (source), after which Ronin implemented security updates and continued to operate as a blockchain game platform.
Ronin zkEVM is currently in the development and testnet phase. In the future, each game will be able to deploy its own chain on Ronin. Currently, the Ronin ecosystem has launched 15 games (with about 20 more pending), with "Axie Infinity," "Pixels," and others dominating.
DappRadar data shows that the total number of independent active wallets is approximately 430 million.
Related report: Axie Infinity Overview – A Blockchain Game Project with DeFi Elements
Advantages of Oasys
Although Immutable has an advantage in the number of games, and Ronin leads in the number of independent active wallets, Oasys also demonstrates similar advantages and potential.
Immutable does not allow developers to create their own game chains
Immutable offers two environments, Immutable X and Immutable zkEVM, but it does not support the creation of custom game chains. Smart contracts can be freely customized, but they must adhere to the constraints of the Immutable platform environment, limiting flexibility in aligning with specific game ecosystems.
In contrast, Oasys allows game developers to develop based on existing themed Verses (L2) or create their own unique game Verse. This flexibility can profoundly reflect the unique economic models and mechanisms of the games.
Additionally, Verses can collaborate with each other, and the ecosystems built within each Verse can achieve interoperability, allowing players to freely transfer digital assets, which is expected to bring a seamless and diverse player experience.
Ronin focuses on a few games, which is disadvantageous for newcomers
Ronin's active users are primarily concentrated in “Axie Infinity” and “Pixels”. Although new games are continuously added, the limited playable games mean that a few titles dominate most of the user base, making it difficult for new games to attract user participation.
Oasys has built a gaming economy around each Verse, allowing new games to more easily reach potential users, as each theme has a corresponding Verse.
Ronin zkEVM will eventually allow each game to launch its own chain, but development is still ongoing, while Oasys is already prepared to lead the development of this model.
Looking Ahead to Oasys's Prospects from the Current State of Games in the Web3 Ecosystem
This section will analyze the growth trends of games in the Web3 ecosystem and the opportunities that Oasys can seize.
Games are the driving force behind the growth of the Web3 ecosystem
According to the average daily independent active wallet numbers across various sectors in Web3, the activity in the gaming and AI sectors is on the rise. Currently, the number of daily active wallets in gaming has reached 4.4 million, which is an increase of approximately 20% compared to the second quarter of 2024 (source).
https://dappradar.com/blog/state-of-blockchain-gaming-in-q3-2024
This growth momentum can be attributed to an increasing number of traditional game companies successfully enhancing profitability and user engagement by integrating blockchain as infrastructure to provide on-chain experiences. For example, renowned game developer Ubisoft launched its first blockchain game in 2024.
Successful Case of Web3 Entry: Integrating Web3 Elements to Find a Path in the Gaming Market
Champions Tactics
"Champions Tactics" launched in October 2024 on Home Verse. Before the game's release in December 2023, the company launched a free NFT series consisting of 9,999 NFTs, granting rights to mint in-game characters.
As a result, although the NFTs were issued for free, the current trading price has reached 0.03 ETH, with total trading volume exceeding 3,300 ETH. The series provides secondary sellers with up to 5% creator royalties for each transaction. While some trading markets offer 0% creator royalties, NFT trading still holds significant potential as a source of income.
Refer to: Dune - Champions Tactics
This success not only boosted NFT prices and trading volumes but also brought about a leap in user engagement. Token holders can not only enjoy the fun of the game itself but also experience the excitement of trading and collecting valuable items. This enhances player engagement, cultivating a more loyal user base than traditional users.
"De:Lithe Final Memories"
Another notable game is "De: Lithe Final Memories," an action RPG roguelike game that successfully sold 220 NFT plots and 1,000 NFT dolls during its NFT public sale in July 2024. This successful sale indicates that the key to profitability lies in gradually transitioning Web2 users to Web2.5 users (i.e., users who have been exposed to Web3 elements such as NFTs and trading markets), and then converting them into Web3 users [link1].
In addition to supporting in-game purchases and collecting valuable NFT collectibles, "De: Lithe Final Memories" offers exciting strategic gameplay. All elements in the game are interconnected, allowing players to "pay for fun and find future value through the items they acquire." This fluid model allows players to transcend mere consumption behavior, fostering a sense of ownership over items, which encourages them to make further purchases to enhance item value or acquire rare items.
By naturally integrating Web3 elements into the game for Web2 users, players gradually develop a sense of ownership and emotional investment in the items, thereby increasing their willingness to pay and engagement. Thanks to the new profit model brought by NFTs, "De: Lithe Final Memories" has become a popular game, attracting over 700,000 participants during the pre-registration phase. This demonstrates that gradually guiding users toward Web3 can enhance user loyalty and drive revenue growth.
Companies that have long provided high-quality games are now beginning to stand out in the competitive gaming market through the novel user experiences brought by blockchain technology.
These success stories show that the trend of using blockchain as infrastructure is not a fleeting phenomenon but is seen by the gaming industry as a sustainable profit growth strategy. This shift will accelerate the trend of traditional gaming companies adopting blockchain as infrastructure.
As new platforms emerge, such as Tap To Earn games that can be played on Telegram, competition continues to intensify and is expected to further expand the user base.
Related report: Overview of Leading Tap to Earn Game Hamster Kombat and the Potential of New Monetization Models
Additionally, data from the third quarter of 2024 shows that platform and infrastructure investments (as opposed to individual games) account for about 80% of total investments in the blockchain gaming and metaverse industry, indicating that infrastructure development is receiving significant attention.
https://dappradar.com/blog/state-of-blockchain-gaming-in-q3-2024
In the future, the demand for game content that can attract a large number of users and the infrastructure needed to support flexible design of that content will continue to grow.
Oasys Outlook: Creating Unique Value Through Game Infrastructure Beyond Consumption
As a chain designed specifically for gaming, Oasys's advantages lie in its strong interoperability between various Verses and its ability to provide a seamless user experience at the infrastructure level. This allows Oasys to better adapt to the current trend of user base growth in the blockchain gaming industry, where infrastructure is crucial, and to meet the increasing long-term demand for game-specific infrastructure.
In recent years, acquiring attention through tokens has become a trend in blockchain gaming, but many of these face sustainability challenges. For example, models like Tap To Earn often require users to invest time and effort but only yield temporary rewards, which can erode the original enjoyment of the game and the value of digital assets. Therefore, we believe that the market demand for game experiences that provide long-term value and go beyond mere consumption is expected to grow.
Oasys is highly reliable in terms of security and sustainability, with several major Japanese companies serving as its validators. Therefore, while supporting ecosystem growth, Oasys can help users safeguard and effectively utilize their in-game digital assets. This brings a new value experience, providing users with long-term asset value, in stark contrast to traditional short-term consumption entertainment. This value experience will stimulate the intrinsic appeal of games, especially for the Web3 gaming audience, and help improve user loyalty.
Blockchain gaming is a rapidly growing sector within the global Web3 ecosystem. Oasys, as a blockchain infrastructure dedicated to gaming, helps traditional game developers make their first foray into the Web3 space, creating successful cases like "Champions Tactics." According to DappRadar, in the past month, Oasys and its existing Verse layer have accumulated 150,000 independent active wallets and over 3 million transactions.
Another highly anticipated game, "Romance of the Three Kingdoms," is expected to cover more users based on the anticipated token issuance in SG Verse and collaborations with major IPs. In the future, Oasys is expected to deploy over 20 more games.
In addition to game content, Oasys is also actively strengthening and expanding its DeFi ecosystem. In September 2024, Oasys launched the lending protocol Palmy Finance, providing users with opportunities to earn stable interest income using $OAS and other assets. As Oasys's decentralized exchange (DEX), TealSwap has gained liquidity support from the Arbitrum ecosystem by integrating Arbitrum Orbit. Meanwhile, DeFi Verse offers more liquidity potential for DeFi traders and players [link1]. Through these ecosystem enhancements, users can more efficiently utilize the earnings generated from on-chain digital assets.
Given that $OAS has not yet been listed on major global exchanges like Binance, we can expect subsequent listing activities to further increase its global visibility and liquidity.
Therefore, Oasys is expected to gain greater influence globally (not limited to Japan) and establish its unique and powerful position in the blockchain gaming industry.
Conclusion
This report analyzes the current state of Oasys and explains how Oasys is gaining prominence in the blockchain gaming industry.
Among the many paths to "mass adoption," gaming remains one of the most promising. As the preferred infrastructure for this sector, Oasys is sure to attract more attention in the blockchain gaming field.
Please click the following links to learn more about Oasys and join the ecosystem.
oRyo Manzoku | double jump.tokyo | Oasys
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