- PUBG developer Krafton has disclosed it’s working on a Web 3.0 platform that supports trading of in-game assets
- Provisionally dubbed Migaloo, it’ll go live before the end of 2023
- Migaloo will enable content creators to develop and monetize their “works in the metaverse”
PUBG: Battlegrounds developer Krafton has disclosed it’s working on a Web 3.0 platform that supports trading of in-game assets in the form of NFTs. Provisionally dubbed Migaloo, the platform will go live this year and is a joint venture between Krafton and Naver Z, an augmented reality company. The platform will also allow content creators to develop and monetize their “works in the metaverse,” and comes roughly six months after another game developer, Square Enix, announced an NFT game.
Metaverse Model Already in Place
According to a press release, the two firms invested close to $37 million to create the platform which they said will have its headquarters in North America. Krafton seems to have contributed the largest amount as it’ll have 85% control of Migaloo with the rest going to Naver Z.
The announcement also indicated that the platform will assume a create-to-earn model that empowers creators to turn their creations into tradeable digital artworks. The PUBG developer will focus on developing creator-centric “tools and blockchain systems” while Naver Z will scout for partners among other roles.
According to Migaloo’s project lead Henry Hyung-Chul, a “metaverse model” and a “core service” are already in place. Naver Z CEO Chang-wook Kim commented on the move saying it’ll be a “game-changer in the metaverse space.”
Traditional Gaming Giants Join Web 3.0
Migaloo adds to Krafton’s growing Web 3.0 ventures considering it announced plans to release a blockchain game in partnership with Solana Labs. Krafton’s involvement in the Web 3.0 space comes at a time when leading traditional gaming firms such as Razer and Unity have also made strides in the decentralized world.
With conventional gaming giants flocking to the blockchain world, they are likely to improve the playability of Web 3.0 games which has been an area of concern.
