Krafton, the South Korean game studio behind breakout battle royale shooter PlayerUnknown’s Battlegrounds, is set to launch a new Web3 metaverse game platform called Migaloo this year. The venture was jointly funded by Krafton and South Korean augmented reality firm Naver Z, who own 85% and 15% of the venture's stakes respectively. These recent developments are part of a larger trend in the Asian market of creating games and experiences powered by blockchain.
Migaloo is being developed by a AAA game studio and will utilize non-fungible tokens (NFTs), allowing users to create, buy and trade in-game assets. Similar to Roblox, the world of Migaloo will be built using user-generated content, where users can earn rewards for in-game items based on others’ use or purchase of those items. The game’s launch this year is good news, with the major players from the Asian continent showing signs of a potential embrace of the blockchain-based games industry.
Square Enix, famously known as the creators of Final Fantasy, have already announced their own Web3 game while Nexon, based out of Japan and South Korea, are also developing MapleStory Universe in Web3. Other significant names such as Razer and WeMade have followed suit, with the game developer WeMade planning to move their popular titles overseas, this time with Web3 integrations.
The success of Krafton’s Migaloo game will surely depend on many factors, but the involvement of Naver Z, which already has millions of monthly active users across its products, could be a major contributor to its success. Additionally, the gaming giant had previously announced a partnership with Solana Labs to develop blockchain-based games, though there has been no public update on the plans yet.
As the world of digital gaming continues to grow and evolve, it will be interesting to see how Krafton’s Migaloo game platform fits into the larger blockchain-based gaming industry. With the experience of the team behind PUBG and with the giant tech firm Naver Z backing the venture, success for Migaloo would not be surprising.
Melissa Sanchez
- 2023-04-20
Krafton Launches New Web3 Metaverse Gaming Platform Migaloo
Krafton, the South Korean game studio behind the popular battle royale shooter PlayerUnknown’s Battlegrounds, is set to launch a new Web3 metaverse game platform called Migaloo. Jointly funded by Krafton and South Korean augmented reality firm Naver Z, the venture will utilize Non-Fungible Tokens to allow users to create, buy and trade in-game assets, earning rewards for in-game items.
