After partnering with metaverse company Naver Z to create its own NFT-based metaverse platform earlier this year, Krafton has now announced the development of “NFT and blockchain-based games and services” with the help of blockchain company Solana Labs. The company behind ultra-popular games like PUBG, BGMI, and PUBG: New State, has now signed a commercial 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 claims that the latter will support the development and marketing of blockchain-based games and services using its decentralized blockchain.
Solana Labs, for those unaware, is one of Ethereum's fiercest competitors that offers blockchain with fast transaction speeds at low cost. Thus, the company will help Krafton develop its next-generation products for the Metaverse and strengthen its position in the market.
“As one of the best high-performance blockchains in the world, with high power and low fees, Solana represents the best of the Web 3.0 ecosystem and its technologies. Through this cooperation, KRAFTON will gain the knowledge to accelerate its investment and production of blockchain-based experiences,” Krafton Web 3.0 Roundtable Senior Manager Hyungchul Park said in a statement.
Now, the primary goal of this partnership, according to The Verge , is to increase Krafton's market share, amid its falling stock price . According to reports, the company's share price saw a drastic drop in 2022 as it faced stiff competition from Chinese rivals like Tencent.
For this, the company even made its popular title PUBG free last year. And with the latest partnership with Solana Labs, the Korean giant is now aiming to strengthen its position in the market by developing “play-to-earn” titles with blockchain technology .
At present, it is unclear whether Krafton will integrate blockchain technology into its existing titles to make them ready for the metaverse. However, even if this is the case, it will take some time for 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 efforts. Also, let us know your thoughts on Krafton's partnership with Solana Labs in the comments below.