Krafton, responsible for the wildly popular game PUBG: Battlegrounds, has announced its new venture: the Settlus blockchain. Powered by the Cosmos SDK, this blockchain project aims to handle payments and settlements in USDC, a stable digital currency.
During Korea Blockchain Week’s Circle Hacker House event, the Settlus blockchain platform was publicly introduced. This news was further shared by Circle CEO Jeremy Allaire on Twitter, emphasizing the vast potential of the project due to PUBG’s 30 million active monthly users.
Settlus: The Future of Payments and The Metaverse
Recently, Settlus unveiled its website and corresponding social media channels, hinting at the imminent launch of its testnet in early 2024. Settlus is not just any blockchain; it is purposefully designed for payment settlements and supporting projects linked to the metaverse.
One distinguishing feature of this blockchain is the ability to pay gas fees using stablecoins. Initially, content creators will receive their payment settlements via Circle’s USDC stablecoin.
Circle’s recent endeavors further strengthen the Settlus vision. On September 1, they enabled native USDC support within the Cosmos ecosystem via Noble, a purpose-built appchain. This move facilitates native asset issuance within the Cosmos network and supports transfers across blockchains through the IBC protocol.
A Glimpse into Project Migaloo
The Settlus team is also channeling their energies into the metaverse with Project Migaloo. Crafted alongside the Settlus blockchain, Migaloo aspires to redefine content creation. According to Bryan Song from the Project Migaloo team, the platform will introduce a unique “create-to-earn” system. This will empower creators to automatically mint NFTs from their digital creations, further allowing them to earn royalties from sales executed on the platform.