PUBG developer Krafton has become the latest gaming company to make moves into the NFT space. The company said in a news release that it has invested more than $6.5 million into multiple companies to advance its efforts in this space, while it also plans to make its own NFT-related projects.
Krafton is investing $2.5 million into Seoul Auction Blue and $4.1 million into XBYBLUE, while it has signed a memorandum of understanding (MOU) to make its own NFT projects.
Seoul Auction Blue runs the art purchasing platform SOTWO. XBYBLUE, meanwhile, runs a service called XXBLUE that acquires and curates digital content IP that can then be sold to consumers.
Krafton’s game studio, Bluehole, will lead the charge in working with these new companies to use Krafton’s technology to make and sell NFT avatars for use in the metaverse “in the future.”
Krafton CEO CH Kim said the company is confident it can come up with NFT solutions are that are “fun and engaging.” Kim teased that this is “just the beginning” of what Krafton has planned in this space. Partnerships with other companies around the world will be announced later.
As for the NFT projects, Krafton said in a second release that it’s working with NAVER Z to make new Web 3.0 and NFT projects to create an “NFT metaverse platform.” NAVER Z runs the ZEPETO metaverse platform, which boasts 290 million users globally.
Krafton said it is leveraging its experience in making a big online game, PUBG, to help fuel its efforts in the metaverse space. It will also create a user-generated content tool and make a “high quality virtual world” using Epic’s Unreal Engine to make its metaverse.
The announcement of Krafton’s NFT/metaverse plans comes just days after Elden Ring company Bandai Namco announced it would spend $130 million to create its own IP metaverse, according to VGC.
NFTs, in particular, have been one of the most-discussed elements of games and the wider technology space for the past year or so. Recently, the indie games platform Itch.io slammed NFTs and the companies that support them. Check out GameSpot’s roundup to find out more on where video game companies like Ubisoft, EA, Nintendo, EA, and Xbox stand on them.
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