South Korea’s Krafton Parners Naver to Establish Metaverse Based Gaming Experience

Krafton Inc., the foremost video game developer in South Korea, has partnered with Naver Z Corp. to develop an online world for global consumers in the coming months. The JV, known as Project Migaloo, will operate Persistent World, an online world in the metaverse where consumers can develop digital information and exchange it using NFTs.

The JV is aiming its mobile services at the global market and will release an update interoperable with both high-end and low-end personal computers. (PCs). To speed up its metaverse offerings, Krafton, the creator of PlayerUnknown’s Battlegrounds (PUBG), plans to shift a minimum of 100 of its staff to the JV.

The video game publisher has moved forward with the metaverse initiative that offers blockchain, NFTs, web 3.0, and create-to-earn. (C2E). Naver Z Corporation is the metaverse division of the South Korean portal behemoth Naver Corporation. Krafton contributes its skills in the development of gaming innovations, while Naver Z is in charge for organizing the offerings and securing alliances.

The digital environment Migaloo will include a content shop, a community of customers, and the Sandbox, a blockchain-based environment where participants can create and earn from immersive gaming.