Upbit Exchange Adds Oasys Token For Web3 Games

Upbit Listing Boosts Oasys (OAS) Token by 63%

South Korea's leading cryptocurrency exchange, Upbit, has added support for Oasys (OAS) with USDT and BTC market pairs, resulting in a substantial surge of over 63% in the token's value. Oasys, designed as a scalable smart contract platform for Web3 games, utilizes its native token, OAS, for transaction fees, validator staking, and governance participation. The platform has recently witnessed strategic developments including Ubisoft's entry into the blockchain gaming space on Oasys and the integration of popular games from South Korean game studio Com2uS. Additionally, the forthcoming Battle of Three Kingdoms game by Oasys founding consortium member, Double Jump.Tokyo, and the introduction of the Oasys Passport wallet further underscore the potential growth of the Oasys platform.

Key Takeaways

• Upbit, South Korea's largest crypto exchange, lists Oasys (OAS) for USDT and BTC markets.
• Oasys is a scalable smart contract platform for Web3 games, with a native token OAS that surged 63% in 24 hours.
• OAS is used for transaction fees, validator staking, and governance participation in the Oasys ecosystem.
• Oasys announces partnerships with Ubisoft, Com2uS, and Double Jump.Tokyo, leading to increased interest in OAS.
• Oasys Passport, a wallet purpose-built for the Oasys blockchain, to be released in open beta form in August 2023.

Analysis

The integration of Oasys (OAS) into Upbit, South Korea's leading cryptocurrency exchange, has resulted in a remarkable upsurge in the value of the token. This development serves as a testament to the growing enthusiasm for blockchain gaming and the potential of the Oasys platform. Involvement of major entities such as Ubisoft, Com2uS, and Double Jump.Tokyo in the Oasys ecosystem has significantly enhanced its visibility and credibility.

In the short term, this listing has led to a substantial increase in OAS's value, proving highly advantageous for holders and investors. Over the long term, it is likely to attract more developers and games to the Oasys platform, fostering a self-reinforcing cycle of growth and adoption. However, if the platform fails to deliver as promised, early adopters could face financial losses.

This development holds perks for entities such as Upbit, Oasys, and the participating game studios. Strong gaming industries in countries like South Korea might also experience positive spillover effects. Furthermore, financial instruments linked to Oasys, such as futures and options, may observe heightened volume and volatility.

Did You Know?

• Scalable smart contract platform: A blockchain platform capable of creating and deploying self-executing contracts with terms directly coded into it, that can handle a large number of transactions per second, ideal for high-traffic applications like Web3 games.
• Web3 games: Games utilizing blockchain technology to offer genuine digital ownership and decentralization, typically built on scalable smart contract platforms like Oasys and involving cryptocurrencies and non-fungible tokens (NFTs) for in-game transactions.
• Oasys (OAS): The native token of the Oasys blockchain, utilized for transaction fees, validator staking, and governance participation, with validators securing the blockchain and governing decisions by OAS holders affecting the Oasys ecosystem.