The cryptocurrency boom brought along a lot of digital terminologies and entities. For instance, over the last year, people have started to recognize what non-fungible tokens or NFTs are and how to trade with them. The concept of blockchain has also gained immense popularity along with cryptocurrency names like Bitcoin and Ethereum. However, the masses are also talking about Metaverse and how humans can create their digital avatars to not only experience but 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. Most recently, the company behind one of the most famous video games Pubg, Krafton has also stepped into the Metaverse. In a press release, the company has announced that it is partnering with NAVER Z to create a new Web 3.0 and a non-fungible token project which will be aimed at building an NFT metaverse platform. NAVER Z is a subsidiary of NAVER, which is the company behind Asia’s largest metaverse platform called Zepeto.
While creating the digital platform, Krafton will implement its experience of developing online games like Pubg: Battlegrounds. The company wants to develop a user-generation content creation tool and a high-quality virtual world using Unreal Engine. NAVER Z will help Krafton in creating and managing the metaverse experience for users. More information about the partnership and the resultant product will be revealed by Krafton in the coming days.
This partnership comes shortly after the company recently announced it made equity investments in Seoul Auction Blue ($ 2.5 million USD) and XBYBLUE ($ 4.1 million USD), as well as signed a memorandum of understanding (MOU) to develop a non-fungible token (NFT ) oriented projects. It will be interesting to see whether Krafton implements some of the key brand elements from Pubg into its metaverse platform.
Upon the partnership with NAVER Z, HyungChul Park, the Lead of Web 3.0 at Krafton says “By combining KRAFTON’s existing technologies and research on how to build scalable Web 3.0 creator-driven ecosystems with NAVER Z and ZEPETO’s experience and capabilities, we’re confident we can build a high-quality UGC-driven open metaverse that stands apart from other services and vitalizes the global creator economy through NFT technologies.