The Japanese and Singaporean start-up company Oasys recently announced it raised $20 million for its blockchain gaming developer platform. Unlike other traditional fundraising rounds, this funding came from a private token sale which “doesn’t dilute the equity of” the project and allows the organization to “reach a broader base of backers than a traditional equity fundraiser.”
Republic Capital led the raise. Additional participants include ump Crypto, Crypto.com, Huobi, Kucoin, Gate.io, Bitbank, and Mirana Ventures.
“The unequivocal backing we have received, by many of the leading institutions from both the crypto and gaming world, is a strong mandate for Oasys, as we embark on our mission to transform blockchain gaming experiences,” said Oasys Director Ryo Matsubara. “Beyond financial support, this vote of confidence from our valued investors also demonstrates to game developers and other ecosystem partners that our project is well-positioned to capitalize on future growth opportunities in the market.”
This money will allow Oasys to plan and strengthen its partnerships within the game developer, digital asset exchange, and crypto gaming spaces. These funds will go towards marketing, business development, and employee hiring. As of this writing, there are about 20 people currently employed by the company.
The end goal is for Oasys to allocate more governance power to its community, which will allow it to transition into a decentralized autonomous organization. DAOs have no central authority and often rely on blockchain-based smart contracts in order for decisions to be made.
(All information was provided by Crowdfund Insider and TechCrunch)
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