PUBG developer and publisher Krafton joins the metaverse with millions invested in NFTs

The South Korean game developer and publisher Kraftoncreator of the game PUBG Battle Royale, has invested 8 billion won (approximately $6.5 million) in two digital art companies to develop NFTs used in the metaverse.

The company took stakes in xbyblue NFT trading platform ($4M) and Auction Service Provider in Seoul ($2.5M). Both companies are subsidiaries of South Korea’s premier auction house, Seoul Auctions.

All parties have agreed to expand into NFT projects where Krafton will create and sell NFTs such as digital art and 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 grow our business in the future.

Krafton CEO Kim Chang-Han

Krafton also announced a partnership with Naver Z to develop a user-generated Metaverse NFT platform backed by SoftBank.

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