Krafton, the South Korean studio behind PUBG: Battlegrounds (formerly PlayerUnknown’s Battlegrounds), hasn’t forgotten about the metaverse. They stated that their Metaverse gaming platform will be available in 2023. In fact, its proposed Web3 metaverse game platform, Migaloo, is still in the works and is set to launch soon.
According to a press announcement issued this week, Krafton and South Korean augmented reality startup Naver Z have formed a joint venture. This enterprise is set up in North America and has invested $36.8 million in Migaloo’s development. Krafton will have an 85% share in the partnership, while Naver Z will own the remaining 15%.
“The companies have invested KRW 48 billion (roughly $36.8 million USD) to develop the platform,” the announcement reads, “which features a Create-to-Earn (C2E) system that allows content creators to build works in the metaverse that users can purchase and own using NFTs and blockchain technology.”
This metaverse’s ambitions are a little larger in scope. Migaloo is being created by a AAA gaming studio with the goal of providing a “create-to-earn” system. In this system, players may produce, purchase, and sell in-game items as NFTs. While little is known about the project, it appears like Migaloo’s universe will be similar to Roblox, but using NFTs.
Roblox, one of the largest online gaming platforms, has introduced a new class of wearable virtual items that third-party developers may sell in limited quantities. It has the appearance of an NFT, is issued as an NFT, and is resold as an NFT. But, sadly, it isn’t. Apart from the lack of Web3, there is only one big caveat that distinguishes Roblox Limiteds from NFTs: they cannot exit Roblox.
However, Krafton’s Migaloo isn’t the studio’s sole Web3 project. Krafton announced a partnership with Solana Labs in March 2022 to develop games on the Solana network. Since the first announcement, neither Krafton nor Solana Labs seems to have provided any further updates since the initial announcement.
The Eastern Front is taking the lead in developing the digital realm. Square Enix, the creator of Final Fantasy, has unveiled its own Web3 game. It is a Japanese firm. Nexon, located in Japan and South Korea, is working on MapleStory Universe on Web3. Razer, located in Singapore, has also formed a Web3 incubator. And South Korean business WeMade intends to distribute some of its largest games with Web3 features outside of Korea.
