Phantom of the Kill (OSHI) Research Report

Phantom of the Kill's Positioning and Significance

Phantom of the Kill -Alternative Imitation- (OSHI) is a Web3-integrated tactical RPG that blends traditional gaming with blockchain technology. Launched as a spin-off of the original "Phantom of the Kill" mobile game series developed by Studio FgG, this project introduces GameFi elements that allow players to earn crypto assets while engaging in strategic gameplay.

As a blockchain-based gaming platform, OSHI serves as a bridge between conventional mobile gaming and decentralized finance, enabling players to own, trade, and monetize in-game assets as NFTs. The project operates on the Polygon network, facilitating low-cost transactions and swift asset transfers.

As of December 24, 2025, OSHI maintains a market capitalization of approximately $4.36 million with a fully diluted valuation of $30.1 million, ranking #1616 in the cryptocurrency market. The token has attracted 1,261 holders and continues to build its gaming community.

This report provides a comprehensive analysis of OSHI's architecture, market performance, and strategic positioning within the GameFi ecosystem.

Origins and Development Trajectory

Background and Genesis

Phantom of the Kill -Alternative Imitation- originated from the immense success of the original "Phantom of the Kill" mobile game, which has been downloaded over 6 million times. The original game, a tactical RPG developed by Studio FgG, featured strategic gameplay, dramatic storytelling, and deep character progression systems centered around girls bearing legendary weapon names.

Recognizing the growing intersection of gaming and blockchain technology, the development team created this Web3-integrated variant to introduce decentralized asset ownership and play-to-earn mechanisms. The project launched with the objective of enabling players to convert their in-game characters into tradeable NFTs while maintaining the core gaming experience that made the original series successful.

OSHI was published on June 1, 2023, at an initial price of $0.17, representing the project's entry into the blockchain gaming market.

Key Milestones

• June 2023: Official launch of OSHI token and "Phantom of the Kill -Alternative Imitation-" game on the Polygon network, introducing the first generation of Killer Princess NFTs.

• April 2024: Token reached its all-time high of $0.069436 on April 3, 2024, demonstrating significant market confidence during the gaming industry's blockchain adoption wave.

How OSHI and Phantom of the Kill Work?

Game Architecture and NFT Integration

"Phantom of the Kill -Alternative Imitation-" operates as a blockchain-native gaming platform where players engage in tactical RPG battles. The game features automatic background battles—progression continues even when the game is not actively running. Players earn rewards based on the number of victories achieved by their characters.

Players can train and develop unique Killer Princesses by upgrading their stats and skills. Once fully developed, these characters can be converted into non-fungible tokens (NFTs) and exported from the game ecosystem. This transformation enables cross-platform trading and ownership verification on the blockchain.

Player Reward Mechanisms

The GameFi model implements multiple earning opportunities:

• Battle Rewards: Players earn OSHI tokens based on the number of victories their Killer Princesses achieve in automatic battles.

• Ranking Rewards: Competitive players can climb ranking leaderboards and receive cryptocurrency rewards proportional to their competitive standing.

• NFT Trading: Players can convert trained characters into NFTs and trade them on blockchain marketplaces, with transaction value determined by player-to-player negotiations.

Blockchain Infrastructure

OSHI operates on the Polygon (MATIC) network, leveraging this Layer 2 solution for cost-effective transactions and rapid settlement. The token contract address is 0x09cad96bc28f55e9253cfb9a84a3a1ab79061e54 on Polygon.

The blockchain infrastructure ensures transparent asset ownership, immutable transaction history, and secure smart contract execution for NFT minting and trading operations.

Tokenomics and Supply Structure

• Total Supply: 1,000,000,000 OSHI tokens
• Circulating Supply: 144,970,000 OSHI tokens (14.5% of total)
• Maximum Supply: 1,000,000,000 OSHI tokens (fixed)
• Current Price: $0.030102 (as of December 24, 2025)
• Market Cap: $4.36 million
• Fully Diluted Valuation: $30.1 million

The supply structure maintains a significant portion of tokens for future ecosystem development, strategic partnerships, and long-term sustainability.

Market Performance Analysis

Price Dynamics

Historical Price Metrics

• All-Time High: $0.069436 (April 3, 2024)
• All-Time Low: $0.0058 (October 10, 2023)
• 24-Hour High: $0.030303
• 24-Hour Low: $0.029954
• 24-Hour Trading Volume: $15,820.81

Market Position

OSHI maintains a market dominance of 0.00094% within the broader cryptocurrency ecosystem. With 1,261 token holders, the project demonstrates a distributed ownership structure. The current market cap represents approximately 14.5% of the fully diluted valuation, indicating significant room for circulation expansion as the gaming ecosystem matures.

Trading and Accessibility

OSHI is available for trading on Gate.com, providing users with a secure platform for token acquisition and exchange. The token's integration on this major cryptocurrency exchange enhances liquidity and accessibility for global participants seeking exposure to the GameFi sector.

For detailed guidance on acquiring OSHI, users can reference Gate.com's comprehensive trading resources and educational materials.

Project Links and Resources

• Official Website: https://alterna.phantom-of-the-kill.com/en/
• X (Twitter): https://twitter.com/PK_Alterna_EN
• Token Whitepaper: https://bobg.gitbook.io/oshitoken-en/
• Blockchain Explorer: https://polygonscan.com/address/0x09cad96bc28f55e9253cfb9a84a3a1ab79061e54

Conclusion

Phantom of the Kill -Alternative Imitation- represents a significant convergence of traditional mobile gaming and blockchain gaming infrastructure. By leveraging the proven gameplay mechanics of the original "Phantom of the Kill" series and integrating Web3 elements, OSHI creates a compelling value proposition for both gaming enthusiasts and cryptocurrency participants.

The project's foundation on the Polygon network ensures scalability and cost-efficiency, while the NFT-based character ownership model introduces genuine digital asset utility. As the GameFi sector continues evolving and mainstream gaming increasingly explores blockchain integration, OSHI maintains strategic positioning within this emerging landscape.

The current market valuation and token distribution suggest the project remains in early-to-middle stages of adoption, presenting potential opportunities for participants aligned with the project's long-term vision of interconnected gaming and decentralized finance.

Phantom of the Kill (OSHI) Market Performance Report

Market Overview

Phantom of the Kill (OSHI) is the utility token of "Phantom of the Kill -Alternative Imitation-," a tactical RPG blockchain game developed by Studio FgG. The game represents a Web3 spin-off of the original "Phantom of the Kill" mobile title, which has been downloaded over 6 million times. The project integrates GameFi elements, allowing players to earn crypto assets while training unique Killer Princesses and converting them into tradable NFTs.

Circulation Overview

As of December 24, 2025, OSHI maintains the following tokenomics:

• Circulating Supply: 144,970,000 OSHI (14.50% of total supply)
• Total Supply: 1,000,000,000 OSHI
• Maximum Supply: 1,000,000,000 OSHI
• Circulating Ratio: 14.50%

The token follows a fixed supply model with no inflationary mechanisms, providing clear scarcity parameters for market participants.

Price Performance

Current Market Data

• Current Price (as of December 24, 2025): $0.030102
• 24-Hour Price Range: $0.029954 - $0.030303
• Market Capitalization: $4,363,886.94
• Fully Diluted Valuation: $30,102,000.00
• Market Dominance: 0.00094%

Historical Price Movements

OSHI reached its all-time high (ATH) of $0.069436 on April 3, 2024, driven by increased market interest in blockchain gaming and NFT integration. The token subsequently experienced a significant correction.

The all-time low (ATL) of $0.0058 was established on October 10, 2023, reflecting early-stage volatility typical of emerging GameFi projects.

Price Trends (Past 12 Months)

The token demonstrates year-over-year appreciation of 10.18%, though recent monthly performance shows consolidation.

View current OSHI market price on Gate.com

Trading Activity

• 24-Hour Trading Volume: $15,820.81
• Number of Holders: 1,261
• Listed Exchanges: 1 (Gate.com)

The relatively modest trading volume reflects the project's current market positioning as an emerging blockchain game title.

Key Project Features

"Phantom of the Kill -Alternative Imitation-" incorporates the following GameFi mechanics:

• Automatic Battles: Combat progresses in the background even when the game is inactive, with rewards distributed based on victory count
• NFT Integration: Trained Killer Princesses can be converted into NFTs and traded on marketplace platforms
• Competitive Elements: Players can compete against one another to earn rewards through ranking systems
• Character Development: Deep character growth systems allow players to develop unique Killer Princesses with customizable stats and skills

Official Resources

• Website: https://alterna.phantom-of-the-kill.com/en/
• White Paper: https://bobg.gitbook.io/oshitoken-en/
• Contract Address (Polygon): 0x09cad96bc28f55e9253cfb9a84a3a1ab79061e54
• Explorer: https://polygonscan.com/address/0x09cad96bc28f55e9253cfb9a84a3a1ab79061e54
• Twitter: https://twitter.com/PK_Alterna_EN

Phantom of the Kill (OSHI) - Comprehensive Market Report

Project Overview

Phantom of the Kill -Alternative Imitation- (OSHI) is a Web3-enabled tactical RPG that builds upon the popular "Phantom of the Kill" mobile game series developed and operated by Studio FgG. The original mobile title has been downloaded over 6 million times, establishing a strong foundation for this blockchain-based spin-off.

This tactical RPG seamlessly blends strategy with drama, featuring:

• A wide variety of combat skills and deep character growth systems
• A dramatic narrative centered on girls bearing the names of legendary weapons
• GameFi mechanics that reward players based on their gameplay performance

Key Metrics (As of December 24, 2025)

Blockchain Infrastructure

OSHI operates on the Polygon (MATIC) blockchain, leveraging its scalability and cost-efficiency for gaming applications.

• Contract Address: 0x09cad96bc28f55e9253cfb9a84a3a1ab79061e54
• Blockchain Explorer: Polygonscan

Ecosystem & GameFi Mechanics

Core Use Cases

Phantom of the Kill -Alternative Imitation- integrates multiple Web3 elements into traditional gaming:

• Character Training & Development: Players train Killer Princesses by developing their stats and skills to create unique variants with distinct abilities and performance characteristics.

• Automated Battle Rewards: Battles progress automatically in the background—even when the game is not running—allowing players to accumulate rewards based on victory counts without active participation.

• Competitive Gameplay: Players compete against one another through ranked systems, earning rewards for achieving high ranks and demonstrating superior strategic prowess.

• NFT Conversion & Trading: Once sufficiently developed, characters can be converted into NFTs and exported from the game environment. These NFTs can be freely traded with other players on marketplace platforms, creating a secondary economy.

• Crypto Rewards: Players earn crypto assets through GameFi mechanics, with earnings directly correlated to their gaming performance and engagement level.

Price Performance & Market Sentiment

Short-Term Dynamics

• 1-Hour Change: +0.18%
• 24-Hour Change: +0.49%
• 7-Day Change: -2.94%
• 30-Day Change: -2.93%
• 1-Year Change: +10.18%

The token has experienced modest volatility, with recent price action showing modest upward pressure in the short term despite slight consolidation over weekly and monthly timeframes. Year-to-date performance demonstrates sustained positive momentum.

Market Position

With a market cap of approximately $4.36 million and circulation representing 14.5% of maximum supply, OSHI occupies a mid-tier position within the gaming token ecosystem. The 0.00094% market dominance reflects its niche positioning within the broader cryptocurrency market.

Community & Social Engagement

Official Channels

• Official Website: https://alterna.phantom-of-the-kill.com/en/
• X (Twitter): @PK_Alterna_EN
• Whitepaper: OSHI Token Documentation

The project maintains active official communication channels to disseminate updates, community announcements, and ecosystem developments.

Investment Considerations

Strengths

• Established IP Foundation: Built upon a successful mobile game with 6+ million downloads, providing brand recognition and existing player base.
• Innovative GameFi Model: Combines traditional gaming enjoyment with cryptocurrency incentives and NFT tradability.
• Scalable Infrastructure: Polygon blockchain integration ensures low transaction costs and network efficiency.
• Clear Tokenomics: Well-defined supply structure (1 billion max supply) with transparent circulating supply mechanisms.

Risk Factors

• Gaming Market Competition: The mobile and blockchain gaming sectors face intense competition from numerous established and emerging projects.
• Player Retention: Success depends on maintaining active player engagement and avoiding the common pitfall of declining user bases in GameFi projects.
• Regulatory Uncertainty: NFT and gaming token regulations remain evolving, potentially affecting gameplay reward structures or asset tradability.
• Market Volatility: Token price fluctuations may impact player incentives and market adoption.

How to Acquire OSHI

OSHI is available for trading on supported cryptocurrency exchanges:

• Primary Exchange: Gate.com offers OSHI trading pairs with comprehensive liquidity and spot trading functionality.
• Wallet Storage: Users should employ secure self-custody solutions compatible with Polygon network assets.
• Market Entry: Review How to Buy OSHI for detailed acquisition guidance.

Summary

Phantom of the Kill -Alternative Imitation- represents an innovative convergence of traditional mobile gaming excellence with Web3 economic incentives. By enabling players to earn cryptocurrency rewards, convert characters into tradeable NFTs, and participate in a player-driven economy, the project addresses the growing demand for reward-driven gaming experiences.

Built on the proven foundation of a 6+ million download mobile game and deployed on the efficient Polygon blockchain, OSHI combines established brand recognition with modern blockchain technology. The automated reward system, competitive gameplay mechanics, and NFT marketplace functionality create multiple engagement vectors for diverse player profiles.

While the project operates within a competitive gaming market and faces inherent risks associated with GameFi adoption and regulatory evolution, its clear technical implementation and community-focused approach position it as a noteworthy participant in the blockchain gaming space.

Both gaming enthusiasts and cryptocurrency investors monitoring innovative token projects should consider monitoring OSHI's development trajectory and ecosystem expansion metrics.

FAQ

What does oshi mean for vtubers?

Oshi means your favorite VTuber. The term originates from Japanese idol fan culture, where fans use it to refer to their preferred virtual YouTubers they actively support and follow.

What is oshi in sushi?

Oshi sushi is a pressed sushi style originating from Osaka, Japan. Ingredients are pressed into a wooden box to create a compact, rectangular form. It is also known as box sushi or oshizushi, featuring layers of rice and toppings firmly pressed together.

What is oshi culture in Japan?

Oshi culture in Japan celebrates passionate fandom and loyalty to favorite figures or media. It's a lifestyle emphasizing dedication, community engagement, and fan support that drives economic growth through fan spending and participation.

Is oshi the same as bias?

Yes, oshi and bias mean the same thing in fan culture. Oshi refers to your favorite artist or group you support. Kamioshi means your ultimate bias, while oshihen means changing your bias to another favorite.