“Krafton, the company behind PUBG, is entering the world of NFTs and the metaverse with ‘Overdare,’ a creation-centric platform.”
South Korean game company Krafton, famous for PUBG, is entering the NFT and metaverse realm with its project ‘Overdare.’ The game is set for a soft launch in December and a full release between January and July 2024. Krafton’s in-house blockchain, Settlus, developed specifically for this game, will be utilized.
Overdare takes inspiration from Roblox and uses Epic Games’ Unreal Engine 5. It will feature generative AI tools enabling players to create their games, including shooters and RPGs. Overdare will also function as a social hub where users can customize avatars and engage in social interactions.
Krafton’s project was initially announced in collaboration with Naver Z, an AR tech firm, with Krafton holding an 85% stake and Naver Z the remaining 15%.
It’s pretty exciting when a gaming giant with 30M MAU (@PUBG) announces a new effort to bring a payment and settlement layer using $USDC on @cosmos at the Circle Hacker House Korea. https://t.co/FFyWmgDdBi
— Jeremy Allaire (@jerallaire) September 5, 2023
Krafton is introducing a “create-to-earn economy” allowing players to acquire and trade in-game digital assets as NFTs, citing transparency and secure transactions as the driving factors.
To facilitate this, Settlus blockchain will enable gamers to generate revenue in Coinbase and Circle’s USDC stablecoin.
Settlus, Krafton’s blockchain, calls itself the future of the creator economy on Twitter. They’ve teased plans for an NFT licensing system in a Medium blog post, although details remain unknown.
Settlus is also actively addressing potential issues tied to Overdare’s proposed NFT economy, which involves launching optional NFTs and managing volatile token prices.
Krafton is the latest big player, following the likes of Adidas, Nike, Lufthansa Group, and Dior, to venture into the NFT arena.
In August, Adidas Originals collaborated with BAPE for an exclusive NFT sneaker launch. Dior introduced Men’s B33 sneakers with digital NFT collectibles the same month. Lufthansa Group and Starbucks have also recently rolled out their NFT loyalty rewards programs.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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