Krafton and Naver Z Collaborate to Create 'NFT Metaverse Platform'

[Asia Economy Reporter Seungjin Lee] Krafton announced on the 9th that it has signed a Memorandum of Understanding (MOU) with Naver Z to collaborate on new Web 3.0 and Non-Fungible Token (NFT) business ventures and will promote the ‘NFT Metaverse Platform’ project.

Both companies are global enterprises with over 90% of their users overseas. Through this agreement, they have agreed to actively cooperate as long-term strategic partners to promote, develop, and operate new Web 3.0 businesses such as metaverse, blockchain-based games, and NFTs.

As their first collaborative task, they will advance a project to build and operate a ‘user-created NFT metaverse platform.’ To this end, they plan to establish a joint venture (JV) between Naver Z and Krafton. Krafton will leverage its experience and technology from producing numerous online games including PUBG to implement a high-quality virtual world based on Unreal Engine and provide user-generated content (UGC) creation tools. Naver Z will lead the operation of new and differentiated metaverse services, community, and social services by utilizing its experience and capabilities in designing and operating the global Zepeto service.

A Krafton official stated, “As a platform company with solid global competitiveness meets a game company to plan a shared future in NFT and metaverse, we expect to create synergy quickly together.”

He added, “Since last year, Krafton has internally researched and set a direction to build an expandable Web 3.0 creator ecosystem with global partners who have the capability and experience. By utilizing the accumulated capabilities and experience of Naver Z and Zepeto along with Krafton’s advanced research and technology, we plan to implement a high-quality ‘UGC open metaverse’ that differentiates from existing metaverse services and activate the global creator economy through NFTs.”

On the 27th of last month, Krafton officially announced its entry into the Web 3.0 and NFT business based on the development capabilities and operational experience of the globally beloved game ‘PUBG: Battlegrounds’ through its regular internal communication program ‘Krafton Live Talk.’ The goal is to focus on the game company’s core role and strengths of creating new worlds and interactions and enjoyment between users, while supporting creators to lead new content creation within an expandable ecosystem.

Zepeto, operated by Naver Z, is Asia’s largest metaverse platform that uses augmented reality (AR) technology to allow users to interact with various people through their own avatars in virtual reality, with over 290 million users worldwide.

This content was produced with the assistance of AI translation services.