Blockchain gaming startup Oasys scores funds from SBI Holdings

As a seasoned crypto investor with over two decades of experience in traditional finance, I’ve witnessed the evolution of technology and its impact on various industries. The latest SBI Holdings’ investment in Oasys is an intriguing move that underscores the growing convergence between old-school finance and next-generation gaming.


The latest deal in the blockchain space will mesh old-school finance with next-generation gaming.

SBI backs Oasys

Established back in 1999, SBI Holdings Inc. has made a name for itself as one of the leading financial groups in Japan. The company offers a variety of financial services, manages assets, delves into biotechnology, and invests in ventures.

For several years now, the company has been gradually merging blockchain technology with conventional finance systems. They have also established their own digital currency trading platform known as SBI Virtual Currency Trade.

Starting from August 29th, there will be a fresh addition to their collection through a collaboration with the Oasys blockchain network – gaming content.

The Tokyo-headquartered company has secretly put money into Oasys, pledging to boost collaboration between their operations and the gaming tokens on the blockchain network.

“Right from the start, some highly recognized international game development giants served as initial testers for [Oasys], according to SBI CEO Yoshitaka Kitao in a recent blog post.”

Previously this year, SBI and Oasys collaborated on a project involving Non-Fungible Tokens (NFTs). However, it’s important to mention that the value of these NFTs has been significantly decreasing.

Instead, Oasys appears more promising as it’s making connections within the gaming industry, particularly with well-known companies such as Sega and Ubisoft.

In February, Oasys collaborated with Com2uS to connect multiple game series such as ‘Summoners War: Chronicle’ and ‘The Walking Dead: All Stars’ to the Oasys platform.

As a crypto investor, I’m thrilled about our recent partnership with SBIHOLDING. This strategic alliance not only brings us additional funding but also solidifies their backing, which will undoubtedly fuel the expansion and growth of our ecosystem.

— Oasys | Blockchain for Games (@oasys_games) August 30, 2024

Since its launch in 2021, I’ve been fortunate to be part of the team at Singapore-based Oasys, a company that has managed to secure a total of $20 million across three funding rounds so far.

Besides SBI, another investor – Hyperithm, a digital asset financial service company based in Tokyo and Seoul, with backing from Coinbase, Samsung, Kakao, and Hashed – has also put in an unspecified sum of money.

Tradfi’s new territory

This isn’t the first time SBI has expressed interest in digital tokens or blockchain technology.

Back in 2016, State Bank of India established a subsidiary known as SBI Ripple Asia. This company played a significant role in promoting the adoption of Ripple (XRP) services across China, Korea, Japan, and Taiwan. Additionally, it was one of the founding members that kick-started the R3 blockchain project.

And SBI is just one of many old-school finance firms dipping their toes in the sector.

JPMorgan Chase continues to be dedicated to the growth of their Onyx division, aiming to more seamlessly incorporate blockchain technology into conventional financial systems. Meanwhile, BlackRock and Fidelity are providing investors with opportunities to explore cryptocurrencies, offering products such as Bitcoin ETFs and digital asset funds.

These actions signify a wider shift towards institutional acceptance, fueled by the promise that blockchain technology can boost transparency, safety, and effectiveness within the financial sector.

SBI’s Oasys investment is unique in that video games play a prominent role in the partnership.

As per Deloitte’s 2024 banking forecast, stablecoins (blockchain-based and backed by real-world currencies) are predicted to become more prevalent in everyday transactions or consumer payments.

With traditional finance gradually blending into the realm of cryptocurrency and blockchain technology, the distinction between conventional and digital finance is growing less clear, fostering a more integrated and forward-thinking financial landscape.

By investing in Oasys, SBI Holdings is seemingly looking to stay ahead of the curve.

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2024-09-01 23:14