Gaming blockchain Oasys officially announces their South Korean arm, expanding its operations into the East Asian region with a planned second phase.
In a recent press release, the Animoca Brands-backed firm has established its new arm in order to expand its operations into the Korean region. One of the company’s partners “with deep expertise in the Korean market,” which will be tasked with operating the chain in Korea.
“The establishment of Oasys Korea is more than a corporate announcement. It is a defining moment that sets the tone for Oasys Phase 2, where real-world value meets scalable blockchain infrastructure,” wrote the company.
The firm’s expansion into the Korea marks a shift into what it calls the second phase of its blockchain evolutionary growth. It plans to do more with its web3 infrastructure beyond simply gaming, aiming to focus on sectors that include entertainment, tourism, shopping and healthcare.
In fact, Oasys plans to take advantage of the vibrant entertainment scene in South Korea by tokenizing real-world assets through the blockchain for content ranging from K-pop, wellness tourism and performance rights. The company also plans to implement tokenization of healthcare data to help the sector.
In order to achieve this goal, the gaming firm plans to upscale the foundation for their RWA infrastructure with scalable tools used to help companies and institutions into the ecosystem. The firm wants to combine blockchain with AI technology, digital identity systems, and DeFi to build composable digital economy.
In the near future, the firm plans to launch a string of tokenization pilots focused on land ownership, entertainment rights, and medical records, ensuring transparent provenance and equitable revenue sharing through the initiative. It also plans to collaborate with major Asian financial institutions interested in entering the web3 space.
According to the release, Oasys has cultivated ties with major Korean blockchain and gaming firms such as Netmarble, Com2uS, Nexon, NHN and Wemix. In fact, the ecosystem’s native token OAS, is already listed on major Korean exchanges including Upbit, Bithumb, Korbit and Coinone.
Most recently, South Korea has been expanding its crypto and web3 industry with new advancements from a regulatory standpoint.
Earlier today, eight of South Korea’s major banks have reportedly banded together to build a stablecoin venture. The joint venture will be supported by the Open Blockchain and DID Association and the Financial Settlement Institute. The report comes ahead of the Financial Services Commission’s release of a new roadmap for stablecoins and crypto ETFs.
