Krafton, the parent company of highly popular battle royale PUBG, has earned multifold in terms of revenue in recent years. Looking at the recent surge their offering had, Krafton is planning to enter the world of NFT and metaverse with their latest acquisition.
Krafton had recently registered the revenue of the previous year at more than $300 million. Looking at that amount, the company is pivoting in order to compete in the world of NFT and metaverse projects. Recently, they had acquired equity in two companies: Seoul Auction Blue ($2.5 million) & Xbyblue ($4.1 million).
Talking about the companies, Seoul Auction Blue has a joint art purchasing platform named Sotwo. Besides this, the company has also acquired Xbyblue which utilizes tech to secure and curate digital art IP.
With this acquisition, Krafton can provide NFT avatars and other products based on its PC counterpart, PUBG Battlegrounds. Regarding the partnership and new focus, CH Kim, CEO of Krafton, said:
“Through partnerships with innovative companies like Seoul [Auction] Blue, we’re confident we can combine our research and our partner’s expertise to offer new experiences that global users will find fun and engaging.“
Besides this, the company revealed the third deal with Naver Z. With this deal, they’re aiming to build a joint Web3 & NFT-based platform. Since Naver Z owns Zepeto which is a metaverse-based project, they’ve already attained augmented reality technology.
With Naver Z’s technology and platform, user can leverage and craft the assets for the virtual world they’ve created.
According to the press release, the development will also allow users create their own content on the platform. In doing so, Krafton became the latest AAA entrant in terms of traditional game companies incorporating NFTs and the concept of metaverse.