PUBG Developer Teams Up With Solana Labs To Launch Play-To-Earn Crypto Games
Chang Byung-gyu, founder and chairman of on the web gaming firm Krafton.
Jean Chung/Bloomberg
Krafton, the South Korean gaming big started by billionaire Chang Byung-gyu, is expanding it crypto empire by partnering with blockchain startup Solana Labs to develop engage in-to-gain crypto online games.
The organization powering the well-known PlayerUnknown’s Battlegrounds (PUBG) video clip game declared on Wednesday that it experienced signed a business settlement with Solana Labs to make blockchain video games that permit players to gain NFTs (non-fungible tokens). NFTs are distinctive electronic belongings saved on a blockchain that certifies ownership of a specific product these kinds of as in-match belongings, pictures or artworks.
Solana Labs is the company that designed the Solana blockchain, which has a short while ago risen to challenge the dominance of Ethereum as extra and a lot more developers are adopting it for decentralized finance jobs. Its well known backers consist of Sam Bankman-Fried, the billionaire founder of crypto exchange FTX.
Blockchain game titles, which reward gamers with cryptocurrencies and NFTs for winning battles or completing in-game duties, have turn into one of the hottest traits in the field above the earlier yr. They accounted for practically 50{cf07cd047201b183b19c0b335dbd7d35a498f84568531c8abe8643bd3ccfd494} of all use in the blockchain business final 12 months, and attracted $4 billion in investments during the exact same period of time, in accordance to analytics system DappRadar.
Krafton, which raised $3.8 billion in Korea’s next-largest first general public presenting in August, has been raising its bets on crypto and blockchain technologies. Final thirty day period, the business mentioned it would staff up with Naver Z, the subsidiary of billionaire Lee Hae-jin’s tech behemoth Naver, to build a metaverse system that will allow customers to interact virtually through avatars.
Krafton’s most up-to-date collaboration with Solana Labs will come as many of its rivals jostle for a slice of the worthwhile blockchain gaming market. Netmarble, the on the internet gaming business founded by billionaire Bang Jun-hyuk, in January unveiled programs to roll out about a dozen of enjoy-to-make blockchain games. Meanwhile, Wemade also formulated a blockchain fight match referred to as MIR4, which has grow to be a strike and catapulted its founder Park Kwan-ho to develop into a billionaire.
