Krafton, the developer of the addictive game PUBG signed an MOU with Naver Z and acquired an equity stake in Seoul Auction Blue and XBYBLUE to curate non-fungible tokens (NFT) and create a metaverse experience.
Currently, the NFT trend is at a peak. Metaverse is an upcoming revolution in the social media and gaming sector with different elements such as augmented reality, virtual reality, and NFTs.
- Krafton, developers of PUBG closed deals with Naver Z, Seoul Auction Blue, and XBYBLUE.
- The collaboration will closely work on metaverse and NFT projects
- Seoul Auction Blue and XBYBLUE will be responsible for designing and promoting NFT products and managing its IP rights.
Krafton’s PUBG game generated over $300 million revenue in the last year.
Seoul Auction Blue runs the art purchasing platform Sotwo, while XBYBLUE helps others platforms to curate digital art IP.
The company acquired an equity stake in Seoul Auction Blue and XBYBLUE worth ($2.5 million) and ($4.1 million) respectively. These two companies will provide support to Krafton to develop NFT avatars on its PUBG Battlegrounds franchise.
About this partnership and the new focus, CH Kim, CEO of Krafton, stated: “Through partnerships with innovative companies like Seoul [Auction] Blue, we’re confident we can combine our research and our partner’s expertise to offer new experiences that global users will find fun and engaging.”
Naver Z is the subsidiary company of Naver and holds Asia’s largest metaverse platform ZEPETO with 290 users.
Krafton is joining hands with Naver Z for web 3 developments and metaverse experience for its users. However, the company has not mentioned any details or names of the project. Krafton will use Naver Z’s technology and platform to build the metaverse.
“This partnership between KRAFTON and NAVER Z is bolstered by each company’s unique expertise and shared global focus as they look toward a future driven by NFTs and metaverses,” said HyungChul Park, Lead of Web 3.0 team at KRAFTON.
After seeing metaverse potential, many gaming platforms are signing deals with metaverse platforms to build and create their metaverse gaming experience. Recently, Ubisoft locked a deal with The Sandbox to bring its Rabbids from Rayman on metaverse.