Oasys, a gamefi-focused blockchain, aims to take use of its position as a Japan-based project to provide resources for foreign game developers to access this sizable gaming market. "Gamefi" is simply the junction of gaming and finance. On Nov. 2, the business unveiled a relationship with the gaming guild YGG that will enable products created utilizing Oasys' services to benefit from specialized marketing and promotional assistance to boost their performance in Japan.
Oasys' objective is to expand the blockchain gaming industry in Japan, one of the world's top gaming markets. Japan is presently the third-largest market in the world for gaming income, after China and the United States, according to the "Global Markets Report 2021" published by Newzoo. In 2021, the gaming industry reported $22.9 billion in revenues, with 75.62 million players actively partaking in these activities.
The CEO and founder of Oasys, Daiki Moriyama, emphasized the significance of Japan for the development of blockchain gaming in the future. In response, he said:
"As the third largest gaming market in the world, Japan’s gaming credentials are well-established. With the government continuing to invest in building the local Web3 infrastructure, there is now tremendous potential for blockchain gaming to grow globally with Japan serving as a launchpad."
Challenges in Breaking Into the Japanese Gaming Market
Oasys hopes to profit from the challenges faced by foreign businesses trying to join the Japanese market. In spite of the enormous revenue generated, only 15% of the games played in Japan are from elsewhere. This is due to the fact that localization involves more than just language translation and sometimes involves modifying games to more effectively appeal to the Japanese user base.
Co-founder of YGG Japan Tetsuya Fujiwara is optimistic about what YGG can provide to developers outside of Japan through this cooperation. According to Fujiwara, YGG will use its expertise in gaming to assist international developers in overcoming the challenges the market provides. He declared:
"With these barriers to entry reduced, we can bring more users into the blockchain gaming space and enhance the ecosystem for all. Our partnership with Oasys will help us to reach even more developers that are building compelling blockchain games of the future."
After Oasys stated it would launch phase one of its mainnet on October 25 with assistance from businesses including Bandai Namco, Square Enix, Ubisoft, and Sega, this partnership followed.
