Revitalized Oasys Gaming Chain Makes OAS Token One to Watch

In 2023, blockchain gaming has rallied, with hotly anticipated new titles seeing the light of day and new monetization models emerging. While the sector still can’t seem to settle on a name for itself (is GameFi in or out?), it’s clear that web3 games are here to stay. They’ve found their place within the broader gaming industry, and in Oasys, they may have found their chain.

The blockchain for games, as it’s billed, Oasys provides the sort of speed and scalability that web3 gaming demands, allowing events to be recorded onchain without incurring latency or fees. A “zero-gas-fee blockchain gaming experience” is promised on Oasys – but there is a token (OAS) and it has significant utility built in.

As Oasys forges new partnerships, onboards game developers, and demand for OAS grows, what effect will this have on the token price? Will technicals follow fundamentals, in other words, and what clues are there as to where Oasys and its native token are headed next?

OAS: The Story So Far

There are actually multiple tokens within the Oasys ecosystem including specific tokens designed to support games, dApps, and metaverse respectively. This decision was made to allow game and verse developers to create their own independent ecosystems without being bound by OAS. At the top of it all sits OAS, which is used for verse building deposits, decentralized governance, staking rewards, payments and much more.

OAS is a 10 billion supply token, around 10% of which is currently in circulation. It’s presently trading at $0.04 per token, which places it flat for the year to date. When measured against the broader market, which has been a story of decline through Q3 of 2023, OAS is holding up better than most assets. With a market cap of $43 million, placing it in the top 400 cryptocurrencies, there’s certainly room for growth, even if the FDV admittedly would take OAS to a $400M cap.

By way of comparison, SAND has 13x the mcap of OAS, AXS 11x, and GALA 8x. These are all GameFi tokens that provide similar functionality to OAS but are valued much higher. There are reasons for that, which we’ll get to shortly, but before we address Oasys’ fundamentals, let’s talk TA. Trading volume for OAS is relatively low just now, but this is reflective of the market mood as 2023 prepares to wind up: it’s the same story for virtually all assets outside of the top 10.

In its favor, OAS boasts good liquidity thanks to markets on Bitget, Bybit, OKX, KuCoin, HTX, and Bithumb – and that’s just the tier-1s. In Q1 2023, OAS posted strong growth, appreciating by 66% during this period, but has since given back most of those gains as the crypto market has drifted. While the industry awaits a spark of life – likely a Bitcoin ETF – everyone’s in “wait and see” mode. There are reasons to be bullish on Oasys and GameFi as a whole moving into 2024, however, with a number of catalysts that could work in OAS’ favor.

Buy/Sell Oasys

Web3 Gaming Comes of Age

From a fundamental perspective, Q1 2024 is expected to see an upturn in trading volumes and prices throughout the market, buoyed by Bitcoin’s impending halving and the near certainty that an ETF will have been approved by then. Various regulatory matters that have been rumbling on, adding a fog of uncertainty and doubt, should also have been resolved by then. Barring any black swan events, crypto ought to be sitting prettier come the turn of the year.

But what about GameFi? It looks on course to end 2023 with a bang, culminating in the return of the GAM3 Awards on December 14, celebrating the best web3 games of the year. There’s a lot to look forward to including Shrapnel, awarded Most Anticipated Game at the inaugural 2022 awards, which is now preparing for its public playtest. Oasys for its part has been busy too, teaming up with AGLD DAO to promote the expansion of Autonomous Worlds, arranging a gaming hackathon in Singapore, and collaborating with GroundX to integrate a digital asset wallet backed by its parent company Kakao.

If there’s one single event that’s going to send demand for OAS soaring, however, it’s less likely to be hackathons and partnerships, useful as these are, and far likelier to be a killer game released on Oasys’ chain. With Oasys currently throwing everything at making this a reality, and rumors of several juicy titles under development, there’s an odds-on chance of this happening.

What is clear is that multiple games are actively being developed on Oasys as we speak by a range of web3 gaming studios. With the OAS token expected to feature within the game mechanics, the stage is set for Oasys to show what it’s made of. 2022 was the hype year for GameFi. 2023 has proven the consolidation year. And 2024 is shaping up to be the breakthrough year when web3 gaming finally meets the world.