Japanese Telecom Carrier KDDI Joins Oasys Gaming Blockchain

(Bloomberg) -- Japanese telecom KDDI Corp. has joined gaming blockchain network Oasys, aligning itself with companies such as Square Enix Holdings Co. and Sega Sammy Holdings Inc. that are exploring the so-called metaverse.

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KDDI, which earlier this month launched streaming, virtual shopping, music and a digital asset wallet, will become a validator for Oasys, it said in a statement. Validators are users that help to secure and verify transactions on blockchains. The carrier will also work with Oasys in gaming and entertainment areas, it said.

The move makes KDDI the second Japanese telecom operator to join Oasys over the past month, following a similar move by rival SoftBank Corp. in February.

Japan’s tech and gaming companies are moving to embrace the next mooted iteration of the internet known as the metaverse, as Prime Minister Fumio Kishida’s administration aims to grow the crypto industry as part of his economic policy. The country’s push to facilitate crypto business includes measures making it easier to list tokens on exchanges.

Oasys, a proof-of-stake public gaming blockchain, was launched in February 2022 and has so far partnered with 21 firms including gaming firms Square Enix Holdings Co. and SEGA, which are also validators on the network, according to the statement.

--With assistance from Vlad Savov.

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