Web3 Metaverse Game Platform by Krafton Expected to Launch in 2022

According to reports, the Web3 metaverse game platform planned by Krafton, the parent company of “Jedi Survival,” tentatively named Migaloo, is expected to be launched this year. According to news released this week, Krafton and South Korean augmented reality company Naver Z have established a joint venture in North America and invested $36.8 million in the development of Migaloo. According to the arrangement, Krafton will own 85% of the shares in the joint venture, while Naver Z will hold the remaining 15%.

The parent company of ‘Survival of the Jedi’ will launch NFT metaverse games this year

As technology advances and virtual interactions become more prevalent, the concept of a metaverse – a virtual world where users can engage in social, gaming, and economic activities – has gained significant traction. One company that has taken a significant step towards developing a metaverse is Krafton, the parent company of “Jedi Survival.” Krafton has announced plans to launch a web3 metaverse game platform this year, which is tentatively named Migaloo. In this article, we will explore the details surrounding Krafton’s web3 metaverse game platform and its potential impact.

Krafton’s Joint Venture with Naver Z

According to recent reports, Krafton has established a joint venture with South Korean augmented reality company Naver Z in North America to develop Migaloo. The two companies have invested $36.8 million in the project. Under the arrangement, Krafton will own 85% of the shares in the joint venture, while Naver Z will hold the remaining 15%.

What is Migaloo?

Migaloo is a web3 metaverse game platform that offers an immersive virtual experience where users can engage in social, gaming, and economic activities. The platform’s main feature is the use of non-fungible tokens (NFTs) to represent in-game assets and virtual real estate, allowing users to own and trade unique digital items. Migaloo aims to provide an open, decentralized platform that allows users to create and share content and build communities.

Why is Krafton Launching a Web3 Metaverse Game Platform?

Krafton’s decision to enter the metaverse market is likely driven by the growing demand for virtual experiences and the potential for new revenue streams. As COVID-19 has forced people to stay indoors, the demand for virtual entertainment has skyrocketed. Additionally, the use of blockchain technology and NFTs to create virtual economies offers a new revenue stream for gaming companies. By launching Migaloo, Krafton aims to capitalize on these trends and position itself at the forefront of the metaverse industry.

The Potential Impact of Migaloo

Migaloo has the potential to disrupt the current gaming industry by offering a new type of virtual experience that combines gaming with social and economic activities. The platform’s use of NFTs and blockchain technology could also provide new revenue streams for Krafton and its investors. The success of Migaloo could lead to a shift in the gaming industry towards more decentralized, open platforms that offer new opportunities for user-generated content.

Conclusion

Krafton’s plan to launch a web3 metaverse game platform, Migaloo, in 2022 is a significant step towards the future of virtual experiences. The platform’s use of NFTs and blockchain technology offers new possibilities for gaming, socializing, and creating value. By establishing a joint venture with Naver Z and investing millions of dollars, Krafton is positioning itself as a leader in the metaverse industry. As the world becomes more digital, the potential impact of Migaloo on the gaming industry and beyond cannot be understated.

FAQs

Q1. What is a metaverse?

A1. A metaverse is a virtual world where users can engage in social, gaming, and economic activities.

Q2. What is Migaloo?

A2. Migaloo is a web3 metaverse game platform developed by Krafton that uses non-fungible tokens (NFTs) to represent in-game assets and virtual real estate.

Q3. Why is Krafton launching Migaloo?

A3. Krafton is launching Migaloo to capitalize on the growing demand for virtual experiences and the potential for new revenue streams through the use of blockchain technology and NFTs.