Krafton, an iGaming behemoth in South Korea, is entering the NFT-captured iGaming sector with its own game, Overdare. Initially the game was called Project Migaloo and there are plans to introduce the game by the end of the year. Full delivery will take place between January and July 2024.
Most notably, Krafton has unveiled Settlus, a blockchain technology built specifically for Overdare. The platform is often compared to Roblox and gets a boost from Epic Games’ Unreal Engine 5. Krafton is known for his achievement, PUBG.
Overdare was founded to provide developers with generative AI tools. This will help form various gaming groups, from sharpshooting to delicate role-playing content. In addition, Overdare will provide services to the social space, giving users the ability to curate avatars and conduct replicated interactions. A first preview reveals a vast virtual universe. Here, players get the chance to use AI tools to create complex games.
Krafton started the project in collaboration with Naver Z, a company specialized in augmented reality technology. As of the current shareholding, Krafton owns a majority of 85 percent of Overdare’s shares. Naver Z has the remaining market share of 15%. Overdare’s create-to-earn economic model will motivate players to convert virtual in-game assets into non-fungible tokens (NFTs).
To strengthen the system, Krafton, together with Naver Z, set up the Settlus blockchain to control Overdare’s in-game economy mechanism. Players receive an additional benefit in the form of an option to collect returns in Coinbase and Circle’s USDC stablecoin via the Settlus blockchain, a feature that gained popularity during the Korea Blockchain Week consortium.
The convergence of NFTs and blockchain in gaming offers new options. On the other hand, it comes with its own obstacles. Krafton is concerned with adequately addressing these factors, such as working on token prices, which have the potential to influence players. As expectations for Overdare increase, it becomes necessary for Krafton to overcome the hurdles and improve overall exposure for users.