Krafton, a formidable presence in South Korea’s iGaming industry, is making its foray into the NFT-integrated iGaming sector with its upcoming game, Overdare. Originally known as Project Migaloo, the game is set to debut towards the end of this year, with the entire rollout scheduled between January and July 2024.
Notably, Krafton has introduced Settlus, a blockchain technology tailored specifically for Overdare. This platform, drawing comparisons to Roblox, will be powered by Epic Games’ Unreal Engine 5, further bolstering Krafton’s reputation, notably recognized for its PUBG franchise.
Overdare is poised to offer developers generative AI tools, facilitating the creation of diverse game experiences, ranging from precision shooting to intricate role-playing content. Additionally, Overdare will extend into the social realm, enabling users to craft avatars and engage in immersive interactions. A preliminary glimpse reveals an expansive virtual universe where players can leverage AI tools to craft intricate games.
Krafton initiated this venture in partnership with Naver Z, a company specializing in augmented reality technology. Currently, Krafton holds a controlling 85% stake in Overdare, with Naver Z owning the remaining 15%. Overdare’s “create-to-earn” economic model will incentivize players to convert virtual in-game assets into non-fungible tokens (NFTs).
To fortify the ecosystem, Krafton and Naver Z have introduced the Settlus blockchain to manage Overdare’s in-game economy. Players will have the added advantage of collecting returns in Coinbase and Circle’s USDC stablecoin through the Settlus blockchain—a feature that gained traction during the Korea Blockchain Week consortium.
The fusion of NFTs and blockchain technology within the gaming sphere presents exciting opportunities but also poses unique challenges. Krafton is diligently addressing factors such as token pricing, which can significantly impact players. As anticipation builds around Overdare, Krafton is committed to surmounting these obstacles and enhancing the overall user experience.
