Krafton is famous for creating and publishing PlayerUnknown’s Battlegrounds (PUBG). Its debut in 2017 brought about a transformation in the battle royale gaming category, attracting millions of players worldwide.
The South Korean gaming company is venturing into blockchain by partnering with Cosmos SDK to introduce the Settlus blockchain.
Settlus: Fostering Transparency in Payment
The primary goal of Settlus, the layer 1 blockchain, is to provide creators with a clear and transparent payment system. The company’s website outlines its intention to offer on-demand payouts using transaction records, NFT royalty rights, and stablecoins for gas fees.
In April, Krafton unveiled its official strategy for creating ‘Migaloo’. This endeavor saw the collaboration between Krafton and Naver Z that is a metaverse firm.
Migaloo is a user-generated content metaverse project designed to foster a transparent and borderless environment. The project also aims to empower creators to receive royalties from their original works through NFTs.
As Migaloo accumulates diverse creations and welcomes intellectual properties from other blockchain networks, it is expected to expand the Settlus ecosystem. This will be through collaborations with various content platforms.
Bryan Song, the Business and Operations Lead of Migaloo, believes that NFTs are licensable assets. He stated that when creators make content in their platform, it becomes NFTs, usable in Web2 via Migaloo. Song further clarified that this will enable creators to make profit through blockchain technology.