PUBG Creator Krafton Developing Metaverse Gaming Platform
Krafton, the South Korean gaming studio behind the popular game PUBG: Battlegrounds, is developing a metaverse gaming platform called Migaloo. The platform is expected to debut this year and will feature a "create-to-earn" system in which players can make, acquire, and sell virtual items (NFTs) to one another.
Joint Venture with Naver Z
Krafton and Naver Z, a South Korean augmented reality developer, have formed a North American-based joint venture company to invest $36.8 million in developing Migaloo. Krafton will control 85% of the business, with Naver Z holding the remaining 15%.
Rise in Blockchain Gaming Adoption
The Migaloo platform is part of a concerted effort by Asian companies to enter the blockchain gaming and experience sector. Square Enix of Japan, creators of the Final Fantasy series, have launched their own Web3 game, and Nexon of Japan and South Korea are creating MapleStory Universe on Web3. Razer, located in Singapore, has also opened a Web3 incubator, while WeMade, based in South Korea, wants to release some of its most popular games with Web3 associations.
Key Points
- South Korean gaming studio Krafton is developing a metaverse gaming platform called Migaloo.
- The platform will feature a "create-to-earn" system in which players can make, acquire, and sell virtual items (NFTs) to one another.
- Krafton and Naver Z have formed a North American-based joint venture company to invest $36.8 million in developing Migaloo.
- Asian companies are increasingly entering the blockchain gaming and experience sector.
Migaloo: A Web3 Metaverse Gaming Platform
Migaloo is a Web3 metaverse gaming platform that Krafton is developing. It aims to offer its players an immersive and interactive experience, where they can explore a virtual world, socialize with other players, and engage in various activities, such as games and quests.
One of the notable features of Migaloo is its "create-to-earn" system, which allows players to create, buy, and sell virtual items in the form of NFTs. This system allows players to earn real money by monetizing their virtual creations.
Although the details of Migaloo are still scarce, it is expected to function similarly to Roblox, a popular gaming platform that allows players to create and share their games with others. However, unlike Roblox, Migaloo will incorporate NFTs, which can enhance the value and uniqueness of virtual items.
Blockchain Gaming in Asia
The development of Migaloo by Krafton is just one example of the growing interest in blockchain gaming in Asia. Several other companies, such as Square Enix, Nexon, Razer, and WeMade, are also exploring the potential of blockchain technology in gaming.
Square Enix, a Japanese company known for its popular Final Fantasy series, has launched its own Web3 game, which uses blockchain technology to offer unique and tradable in-game assets.
Nexon, a South Korean and Japanese game developer, is working on MapleStory Universe, which aims to offer a persistent, virtual world that players can explore and interact with.
Razer, a Singaporean company, has also launched a Web3 incubator program, which provides funding and support for blockchain gaming startups.
Finally, WeMade, another South Korean game developer, plans to incorporate blockchain technology into some of its popular games, such as Mir 4, to offer players a new level of ownership and control over their in-game assets.
Conclusion
The growing interest in blockchain gaming in Asia reflects the potential of this technology to revolutionize the gaming industry. With its ability to offer new forms of ownership, monetization, and value to virtual assets, blockchain technology could transform how games are played and experienced.
Migaloo, developed by Krafton and Naver Z, is one of the many blockchain gaming projects currently being developed. With its "create-to-earn" system and use of NFTs, it has the potential to offer a new level of engagement and monetization to players. As the blockchain gaming industry continues to evolve and mature, we can expect to see more innovative projects emerge in the coming years.