Solana is a popular game company with a hugely successful brand that is developing blockchain based games.
The agreement between Krafton and Solana
Krafton, Inc. is a Korean company that develops and distributes video games. This company signed a business agreement with Solana Labs, the Solana’s blockchain team. Krafton and Solana Labs will collaborate on building blockchain games like NFT games. The agreement also covers marketing, design, and investment in projects. The world’s top video game publishers are testing Web3 using NFT assets and the crypto ecosystem. The leader in Web3 segment is Hyungchul Park. “Krafton will get the insight needed to accelerate the investment,” he said. “The company will also launch more efficient products based on blockchain experiences.”
Krafton, PUBG Series developer, partnered with Solana
Under the MOU (memorandum of understanding), Krafton can terminate the partnership without facing legal consequences. As part of the agreement, Krafton was granted the official rights to develop blockchain games on the Solana network. These games are expected to have a metaverse vibe, combining interactive digital avatars with crypto-related prizes and offerings. The agreement could lead to the integration of Krafton games into the Solana blockchain. This allows players to trade using Solana’s SOL cryptocurrency or NFTs.
Krafton made more than $1.57 billion in revenue in 2021. Most of the revenue comes from Krafton’s hit game Playerunknown Battleground (PUBG) Mobile. PUBG is an outstanding series of free-to-play battle royale shooters that are available on various platforms. The Android and iOS mobile versions of the game have surpassed 1 billion downloads. PC and console entries also exceed 75 million downloads. This game has brought the company up to $1.18 billion in revenue.
The new PUBG mobile game’s poster
Krafton also launched “New State Mobile”, a standalone PUBG mobile game with futuristic concept. The studio is also working with Square Enix and Ubisoft to explore opportunities in the blockchain-based gaming market, despite opposition from traditional game channels like Steam.
Solana was founded in 2020 as a competitor of Ethereum. While Ethereum has a better developed blockchain system, Solana boasts a more efficient blockchain technology. The native token SOL already has a market capitalisation of nearly $30 billion. Hyungchul Park also added, “Solana embodies the best features of the Web 3.0 ecosystem and its technology.” Johnny Lee, Head of the Game Business Development at Solana Labs, said: “Krafton is a renowned innovator in the game industry. We are delighted to be a part of their next promotion.”
Sources of information are from Bitcoin news.