Krafton, a prominent South Korean gaming company known for its popular online game “PUBG: Battlegrounds,” has recently revealed its plans to launch a gaming platform within the metaverse this year.
The project, dubbed Migaloo, has been allocated a budget of $36.8 million for its development.
Krafton has partnered with NAVER Z, the operator of Asia’s largest metaverse, to bring the project to life.
As part of the collaboration, Krafton will be responsible for creating blockchain systems for creators, while NAVER Z will focus on service planning and partner acquisition.
Although details about the project are scarce, it appears that Migaloo’s virtual world will be similar to that of Roblox, but with a focus on using NFTs. Users will be able to create, buy, and sell NFTs as in-game items.
Henry Hyung-chul Park, Project Lead at Migaloo, has noted that the team has already developed the base service and metaverse model and is eager to continue working on the project.
In March, Krafton announced a partnership with Solana Labs to develop blockchain projects.
This collaboration will not only involve joint development efforts but also marketing initiatives and investment opportunities.
Additionally, in March, the South Korean Ministry of Science, in conjunction with the Ministry of Information and Communications, launched a fund to support local projects focused on metaverse development.