South Korean-based gaming firm, Krafton announced Wednesday that it is partnering with Solana Labs! In this exciting deal, the duo will focus on the development and operation of NFT-based games.
Krafton and Solana Labs Join Forces
To begin with, Krafton is the famous developer behind the popular mobile battle-royale game: PlayerUnknown’s Battleground (PUBG). Currently, PUBG is one of the most downloaded games on the Steam platform, with tens of millions of active user bases. By partnering with Solana Labs, we expect NFTs and the P2E model to be brought into PUBG soon.
“Krafton will continuously see ways to work closely with blockchain companies like Solana Labs as we work toward establishing our Web 3 ecosystem,” said HyungChul Park, the head of Krafton’s Web 3 division, in a press statement. “Through this cooperation, Krafton will acquire the insight needed to accelerate its investment in and output of blockchain-based experiences.”
Despite opposition towards NFTs in traditional games, Krafton has been eyeing blockchain gaming opportunities. For instance, in early February the firm invested in Korean-based startup Seoul Auction Blue to develop NFT projects. Shortly after, Krafton’s CEO, Chang-Han Kim backed a $3M seed round in a Vietnamese NFT game. Afterward, the firm partnered with Square Unix and Ubisoft to explore blockchain gaming experiences. Given Krafton’s aggressive push into Web 3, we expect other traditional gaming firms to follow suit.
In fact, we do see an increasing amount of VC investments flowing into new blockchain games and metaverses. These include the $450 million investment in BAYC Otherside, the $10 million seed round raised for Lava Lab’s AFAR, and more. We believe more will come as time goes on. So stay tuned!