Korea-based gaming developer and publisher Krafton announced its new collaboration with blockchain platform in a concerted effort to develop Play-to-Earn blockchain and NFT games. Krafton is the name behind popular game titles such as PUBG: Battlegrounds, Thunder Tier One, Elyon, and many more. According to the announcement on March 23, Krafton and Solana Labs signed [...]

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Krafton, developer of the popular videogame PUBG, said it had signed a deal with Solana Labs to jointly develop blockchain and NFT-based games and services. The developer said it intended to leverage its game building capabilities in the web3 space. The move marks growing the growing popularity of blockchain and play-to-earn (P2E) games, which has

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British banking titan HSBC is partnering with The Sandbox for its new venture into the metaverse. The Sandbox announced the partnership yesterday, revealing that the collaboration would help create opportunities for virtual communities across the world to engage with global financial services and sports communities in the metaverse. Under the deal, HSBC will acquire a […]

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Sneakers brand, Skechers has entered the metaverse by becoming the first to sign a lease in the Fashion District of Decentraland, a decentralized VR platform built on top of the Ethereum blockchain. The company has also recently filed trademark applications to sell virtual goods such as footwear and apparel, in a bid to capitalize on the growing metaverse wave. “Our Decentraland agreement is an investment in our future,” said Michael Greenberg, president of Skechers, in a release. “We look forward to embarking on this virtual era, and exploring creative ways for our brand to engage with new customers and audiences as we launch the new Skechers experience.” With the latest deal with Decentraland, Skechers follows in the footsteps of a growing number of fashion brands who have already staked their claim including Philip Plein, who recently brought a 1.4 million dollar plot in the virtual world. Earlier, last year, Canadian company Token.com announced the acquisition of a 116 parcel estate in the Fashion Street district within Decentraland via its subsidiary, Metaverse Group. At the time Decentraland declared this to be the largest metaverse land acquisition to date. Many global high fashion brands are entering the metaverse. For instance, Gucci and Ralph Lauren already have virtual pop-up shops on Roblox and Zepeto while brands such as Balmain and Adidas have launched their own NFT collections.

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PUBG developer Krafton has become the latest gaming company to make moves into the NFT space. The company said in a news release that it has invested more than $6.5 million into multiple companies to advance its efforts in this space, while it also plans to make its own NFT-related projects.

Krafton is investing $2.5 million into Seoul Auction Blue and $4.1 million into XBYBLUE, while it has signed a memorandum of understanding (MOU) to make its own NFT projects.

Seoul Auction Blue runs the art purchasing platform SOTWO. XBYBLUE, meanwhile, runs a service called XXBLUE that acquires and curates digital content IP that can then be sold to consumers.

Krafton's game studio, Bluehole, will lead the charge in working with these new companies to use Krafton's technology to make and sell NFT avatars for use in the metaverse "in the future."

Krafton CEO CH Kim said the company is confident it can come up with NFT solutions are that are "fun and engaging." Kim teased that this is "just the beginning" of what Krafton has planned in this space. Partnerships with other companies around the world will be announced later.

As for the NFT projects, Krafton said in a second release that it's working with NAVER Z to make new Web 3.0 and NFT projects to create an "NFT metaverse platform." NAVER Z runs the ZEPETO metaverse platform, which boasts 290 million users globally.

Krafton said it is leveraging its experience in making a big online game, PUBG, to help fuel its efforts in the metaverse space. It will also create a user-generated content tool and make a "high quality virtual world" using Epic's Unreal Engine to make its metaverse.

The announcement of Krafton's NFT/metaverse plans comes just days after Elden Ring company Bandai Namco announced it would spend $130 million to create its own IP metaverse, according to VGC.

NFTs, in particular, have been one of the most-discussed elements of games and the wider technology space for the past year or so. Recently, the indie games platform Itch.io slammed NFTs and the companies that support them. Check out GameSpot's roundup to find out more on where video game companies like Ubisoft, EA, Nintendo, EA, and Xbox stand on them.