Krafton enters NFT-integrated metaverse gaming landscape
Krafton, which is a colossus in the field of iGaming in South Korea, is entering the NFT-incorporated iGaming sector with its own game, Overdare. Initially, the game was named Project Migaloo, and plans are afoot to introduce the game towards the end of the year. The entirety of the delivery will occur between January and July of 2024.
Most notably, Krafton has unveiled Settlus, a blockchain technology built particularly for Overdare. The platform is often compared to Roblox and will get boosted by Epic Games’ Unreal Engine 5. Krafton is known for its achievement, PUBG.
Overdare is established to provide developers with generative AI tools. This will help form various game groups, from sharpshooting to delicate role-playing content. Over and above that, Overdare will render service to the social space, allowing users the option of putting together avatars and carrying out replicated interactions. An initial preview exposes a spread-out virtual universe. In this, players will have the chance to utilize AI tools for creating complex games.
Krafton initiated the project in partnership with Naver Z, a company specializing in augmented reality technology. As of the present equity stake, Krafton holds a majority of 85 percent of Overdare’s shares. Naver Z holds the remaining 15% market share. The create-to-earn economic model of Overdare will motivate players to convert virtual in-game assets into non-fungible tokens (NFTs).
In order to strengthen the system, Krafton, along with Naver Z, have provisioned the Settlus blockchain to control Overdare’s in-game economy mechanism. Players receive an extra benefit in the form of an option to collect returns in Coinbase and Circle’s USDC stablecoin through the Settlus blockchain, a feature that gained popularity during the Korea Blockchain Week consortium.
The amalgamation of NFTs and blockchain in gaming provides fresh options. On the other hand, it comes with its own set of obstacles. Krafton is preoccupied with adequately addressing these factors, like working on token pricing, which has the ability to impact players. With expectations growing where Overdare is concerned, it becomes necessary for Krafton to overcome the hurdles and improve the overall exposure for users.