After partnering with the metaverse company Naver Z to create its own NFT-based metaverse platform earlier this year, Krafton has now announced to develop “NFT- and blockchain-based games and services” with the help of blockchain company Solana Labs. The company behind uber-popular games like PUBG, BGMI, and PUBG: New State, has now signed a business agreement with Solana Labs to develop future products for the metaverse era.
Krafton Partners with Solana Labs for Blockchain-based Games
Krafton recently shared an official blog post to announce the partnership with Solana Labs. The company says that the latter will support the development and marketing of blockchain-based games and services with the help of its decentralized blockchain.
Solana Labs, for those unaware, is one of the fiercest competitors of Ethereum that offers a blockchain with fast transaction speeds at low cost. So, the company will help Krafton develop its next-gen products for the metaverse and boost its position in the market.
“As one of the best global high-performance blockchain with strength in high speed and low fees, Solana represents the best of the Web 3.0 ecosystem and its technologies. Through this cooperation, KRAFTON will acquire the insight needed to accelerate its investment in and output of blockchain-based experiences,” the lead executive of Web 3.0 Roundtable at Krafton, Hyungchul Park, said in a statement.
Now, the primary aim of this partnership, according to The Verge, is to increase the market share of Krafton, amidst its falling share prices. According to reports, the company’s share price saw a drastic slump in 2022 as it faced strong competition from Chinese rivals like Tencent.
For this, the company even made its popular PUBG title free-to-play last year. And with the latest partnership with Solana Labs, the Korean giant now aims to boost its position in the market by developing “play-to-earn” titles with blockchain technology.
Now, it is unclear whether Krafton will integrate blockchain technology into its existing titles to make them metaverse-ready. However, even if it does, it will take some time for the blockchain-based games and services to make their way into the commercial market. We suggest you stay tuned for more updates on Krafton’s blockchain endeavors. Also, let us know your thoughts on Krafton’s partnership with Solana Labs in the comments below.