The company behind the popular video game PUBG, Krafton has entered the blockchain space by announcing Settlus – a purpose-built cosmos-based blockchain for creators.
According to an article shared by Circle CEO Jeremy Allaire, the developers announced Settlus during the Circle Hacker House event. He claims that Settlus will use USDC for payments and settlement or gas fees.
Settlus is designed to enable a creator economy with a transparent settlement system. While not disclosing much information, the company’s website states that it will offer on-demand payout through transaction records, NFT royalty rights, Interoperable NFTs as well as using stablecoins for gas.
In April 2023, Krafton released its official plan to build a metaverse project dubbed ‘Migaloo’. Krafton partnered with Naver Z, an Asian metaverse company, to build a Crate-to-earn platform using NFTs and blockchain technology.
Settlus’s website displays Migaloo as its first among many upcoming projects. The UGC (user generated content) centric project will enable granting royalty rights to the original creator with transparent and borderless settlements.
“Our goal is to serve as the gateway connecting web2 products with the diverse realms of web3, rather than empty promises of creating a new universe,” claims the company. The website claims that Settlus testnet is set to launch in early 2024.
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