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PUBG studio KRAFTON partners with Solana Labs to develop blockchain-based games

PUBG developer KRAFTON, Inc. entered into an agreement with blockchain company Solana Labs on 23 March 2022 to “support the design and marketing of blockchain-based games and services,” said a KRAFTON, Inc. press release.

Solana Labs is the driving force behind the Solana blockchain. It is an Ethereum-based blockchain designed to offer fast transaction speeds at low cost and reduced energy consumption.

More details on the KRAFTON, Inc. and Solana Labs partnership

The agreement

KRAFTON, Inc. and Solana Labs will come together to build a long-term cooperative relationship. The two companies will be working towards the development and operation of blockchain- and non-fungible token (NFT)-based games and services.

They will also look into the marketing and design of blockchain games and various other blockchain technologies. Besides these, the two companies will jointly seek investment opportunities in these fields.

Speaking about the deal, Hyungchul Park, Lead of Web 3.0 Roundtable at KRAFTON, Inc., said, “KRAFTON will continuously see ways to work closely with blockchain companies like Solana Labs as we work toward establishing our Web 3.0 ecosystem. As one of the best global high-performance blockchains 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.”

Johnny Lee, Head of Games Business Development at Solana Labs, added, “KRAFTON is an established innovator in the games industry and we are excited to be part of their next level up. We are seeing gamers increasingly seek out on-chain games and gaming companies who respond quickly to this demand will set themselves up well for ongoing success.”

KRAFTON’s NFT plans

About a month before signing the deal, KRAFTON,Inc. had announced its intentions and plans to enter the NFT world and build games related to it. It had also announced that it will work with Naver Z, a South Korea-based app developer, to build “a new Web 3.0 and non-fungible token (NFT) project aimed at building an NFT metaverse platform.”

Whether PUBG will witness the integration of NFTs or any blockchain elements is unknown as of now. Additionally, the titles of these upcoming games and their tentative release dates remain undisclosed.

KRAFTON’s performance

Krafton,Inc signs agreement with Solana Labs to develop NFT-based games
Image: Courtesy KRAFTON,Inc.

Once known as a leading games developer, the developer’s PUBG Mobile has been downloaded over a billion times. In fact, last year, it had also launched PUBG: New State, a free-to-play mobile PUBG game.

However, the South Korean developer has witnessed a stark drop in share prices after facing stiff competition from Chinese counterparts after crackdowns from investors in China.

(Main and feature image: Courtesy Krafton,Inc.)

PUBG studio KRAFTON partners with Solana Labs to develop blockchain-based games

Trinetra Paul

Trinetra is an ardent foodie and bibliophile who writes about films, travel, food and lifestyle. As a writer and literature student, slam poetry and storytelling are her go to jam. When not working, Trinetra is busy looking for her next place to visit or binge-watching Instagram videos for travel inspiration.

   

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