The South Korean game developer and publisher Krafton, maker of the PUBG Battle Royale game, has invested 8 billion won (approximately $6.5 million) in two digital art companies in order to develop NFTs used in the Metaverse.
The company invested in stakes in Xbyblue NFT trading platform ($4M) and Seoul auction service provider ($2.5M). Both companies are subsidiaries of South Korea’s first auction house, Seoul Auction.
All parties have agreed to expand in NFT projects where Krafton will create and sell NFTs such as digital art and in-game items.
“Krafton has a rich history of developing proprietary technologies, which are part of the foundation of our NFT and metaverse development. This is just the beginning as Krafton will announce additional details related to its collaboration with Seoul Auction Blue and Xbyblue, as well as additional global partnerships positioned to expand our business in the future.”
Krafton CEO Kim Chang-Han
Krafton also announced a partnership with Naver Z to develop a user-generated NFT Metaverse Platform backed by SoftBank.
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