Japanese gaming blockchain Oasys has partnered with Metabora SG, the Web3 gaming division of South Korean internet giant Kakao, to support the game publisher's expansion into the Japanese market.
"Metabora SG brings its expertise in creating immersive gaming experiences, which, along with Oasys' green technology, should appeal to Japanese gamers," Oasys said in a statement Thursday.
The partnership is part of Oasys' Dragon Update, which is the company's core strategy for 2024. It aims to focus on expanding the gaming blockchain through greater interoperability and linking with content creators, it said the company.
Last week, Oasys announced a partnership with another South Korean game developer, Com2uS, which plans to bring its games to the Oasys blockchain. Many South Korean Web3 game developers have been seeking the global release of blockchain-based games since local rules prohibited their domestic release.
Oasys, which offers Ethereum-based Layer-1 and Layer-2 networks for game developers, counts gaming heavyweights Sega, Ubisoft, and Yield Guild Games as network validators.
Regulatory renewal
Japan has recently begun restructuring regulations in favor of the local cryptocurrency and Web3 industry. In December, the Japanese cabinet approved a review of the tax regime that would exempt companies from paying taxes on unrealized crypto profits. Last week, the country's cabinet approved a proposal that allow venture capital to invest directly in crypto startups.
Oasys said on Wednesday in an mail who participated in a discussion with the ruling political party's Web3 team about the current regulatory landscape and ways to boost the global competitiveness of the local Web3 gaming industry.
"I made a presentation to the ruling party and government on the importance of liquidity for Web3 gaming projects," said Ryo Matsubara, director of Oasys. wrote at X. “The cryptocurrency market in Japan is running out of liquidity after several incidents and strict regulation. If Japan regains its liquidity, it will be the most attractive market since we have a lot of attractive content.”
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