Blockchain Game Developer Oasys Raises $20M in Private Token Sale

Singapore-based blockchain game developer Oasys has completed a successful private token sale round of $20 million led by blockchain financing and investment platform, Republic Capital, with participation from Jump Crypto, Crypto.com, Huobi, Kucoin, Gate.io, Bitbank, and Mirana Ventures.

Going Through the Private Token Sale Route

According to a TechCrunch report from today, Daiki Moriyama, director at Oasys, said that Oasys's funding came from a private token sale rather than a traditional equity round. He added, "It doesn't dilute the equity of our project that we firmly believe in. It allows us to reach a broader base of backers than a traditional equity fundraiser will." The firm will use the funds to strengthen partnerships with new and established game developers, digital asset exchanges, and other companies within the gaming and crypto ecosystem. It will also be used to invest in new marketing and business development initiatives as well as increase its local headcount.

Strong Institutional Support

Oasys is also behind doublejump.tokyo, one of the most successful Web3 game developers from Japan with major game titles such as My Crypto Heroes and Brave Frontier Heroes, which were the top blockchain games in both daily active users and sales (over 27,000 worth of ETH sold) since their release in 2018, through to early 2020. The company also has strong institutional support and some of the initial validators on its blockchain include the likes of Bandai Namco Research, SEGA, Ubisoft, Netmarble, Wemade, Com2uS, and Yield Guild Games, one of Asia's most prominent play-to-earn gaming guilds.