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Krafton, the prominent South Korean video game developer recognized for popular titles such as PUBG: Battlegrounds, is venturing into the blockchain space. The firm is in the process of creating Settlus, a new blockchain based on the Cosmos platform aimed at providing transparent settlement processes for content creators. As stated on the official website, the testnet for Settlus is scheduled for launch in early 2024.
Additionally, Josh Lee, the founder of the Cosmos-based decentralized exchange Osmosis, announced on September 4 that Krafton is making progress in the blockchain domain. This announcement was further corroborated by Jelena, co-founder of a Cosmos-based app-chain named Noble. She subsequently disclosed that Krafton is not only focusing on Settlus but is also developing an app chain on Cosmos.
Importantly, the primary currency for creator settlements on this platform will be Circle’s USDC stablecoin. This choice adds an extra layer of credibility and stability to Krafton’s ambitious initiative, facilitating secure and transparent financial transactions for content creators.
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It is important to mention that this is not Krafton’s initial engagement with blockchain technology. In March 2022, the company announced a partnership with Solana Labs, expressing their intention to concentrate on the “development and operation of blockchain and NFT-based games and services.” Notably, no products have been released since that announcement.
Krafton’s collaboration with Solana is also grounded in a memorandum of understanding (MOU). This arrangement provides the gaming giant with the option to withdraw from the partnership without facing legal consequences if circumstances do not unfold as anticipated.
The Cosmos Network, which serves as the foundation for Settlus, is a decentralized network of independent, scalable, and interoperable blockchains. This framework allows for seamless interaction between distributed ledgers without the need for a centralized server. In April of this year, Dymension, a blockchain scaling startup, introduced the world’s first IBC-enabled EVM rollup on a testnet, in collaboration with Evmos Core Teams and Celestia, further enhancing the Cosmos ecosystem.
In the long term, Krafton’s entry into blockchain through Settlus could significantly impact content creators seeking open financial transactions. The blockchain community, the gaming sector, and content creators are keenly awaiting this innovative development, with a testnet deployment set for early 2024.
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