The cryptocurrency boom has resulted in many digital terminologies and entities. For example, over the past year, people have started to recognize what non-fungible tokens or NFTs are and how to trade with them. The blockchain concept has also gained immense popularity with cryptocurrency names like Bitcoin and Ethereum. However, the masses are also talking about Metaverse and how humans can create their digital avatars not only to experiment, but also to interact and socialize in a virtual environment.
Several big names such as Samsung, Meta (formerly called Facebook) and Nike are investing in the digital world. More recently, the company behind one of the most famous video games, Pubg, Krafton has also entered the Metaverse. In a press release, the company announced that it is partnering with NAVER Z to create a new Web 3.0 project and non-fungible token that will aim to build an NFT metaverse platform. NAVER Z is a subsidiary of NAVER, which is the company behind Asia’s largest metaverse platform called Zepeto.
When creating the digital platform, Krafton will implement its experience in the development of online games such as Pubg: Battlegrounds. The company wants to develop a high-quality user generation content creation tool and virtual world using Unreal Engine. NAVER Z will help Krafton create and manage the metaverse experience for users. More information about the partnership and the resulting product will be revealed by Krafton in the coming days.
The partnership comes shortly after the company recently announced it has taken stakes in Seoul Auction Blue ($2.5 million) and XBYBLUE ($4.1 million), as well as signing a memorandum of understanding ( MOU) to develop non-fungible token (NFT) oriented projects. It will be interesting to see if Krafton implements some of Pubg’s key brand elements in its metaverse platform.
Commenting on the partnership with NAVER Z, HyungChul Park, Head of Web 3.0 at Krafton, said, “By combining KRAFTON’s existing technologies and research on how to build scalable ecosystems focused on Web 3.0 creators with the experience and capabilities of NAVER Z and ZEPETO, we are confident we can build a high-quality open UGC-based metaverse that stands out from other services and boosts the global creator economy through NFT technologies.