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One of the largest South Korean gaming companies Krafton, known for the online game "PUBG: Battlegrounds", announced the launch of a gaming platform in the metaverse this year.
To develop a project under the working titleMigaloo was allocated $36.8 million. Krafton teamed up with NAVER Z, operator of the largest metaverse in Asia. As part of the collaboration, Krafton will develop blockchain systems for creators, and NAVER Z will focus on planning services and attracting partners.
While little is known about the project, it looks like the world of Migaloo could be reminiscent of Roblox, but using NFTs. Users will be able to create, buy and sell NFTs as in-game items.
Henry Hyung-chul Park, project manager for Migaloo, notes that the team has already developed a basic service and metaverse model, and they are looking forward to further work.
In March, Krafton entered into a partnership with SolanaLabs for the development of blockchain-based projects. They will collaborate not only in development, but also in marketing, and will also jointly use investment opportunities.
In March, the Ministry of Science, together with the South Korean Ministry of Information and Communications, announced the launch of a fund to develop local projects developing metaverses.