PUBG Parent Firm Krafton Signs Deal with Solana Labs for Blockchain-based Gaming

UTC by Bhushan Akolkar · 3 min read
PUBG Parent Firm Krafton Signs Deal with Solana Labs for Blockchain-based Gaming
Photo: Shutterstock

The two companies will work together towards the design and marketing of blockchain-based games, NFT games, and services.

On Wednesday, March 23, Krafton – the parent company behind the popular game PUBG – entered into a major business deal with Solana Labs. As part of the deal, Krafton will assist in the design and marketing of blockchain-based games and services built on Solana.

South Korea-based Krafton said that its partnership with Solana will include the “development and operation of blockchain and NFT-based games and services”. Solana has gained major popularity over the last year as a Layer-1 Ethereum alternative. Its native crypto SOL also surged to become one of the top five digital assets in the market.

The Solana blockchain facilitates huge scalability and hosts several decentralized applications (DApps). It has also attracted developers worldwide by offering uncompromised security and composability. At its core, Solana employs the Proof-of-History consensus mechanism. This allows the network to process tens of thousands of smart contracts at once.

On the other hand, Krafton has transformed the gaming world with popular titles like PUBG which fetches the company billions of dollars in revenue. Last year in 2021, Krafton reported that it earned $1.57 billion in total revenue. Speaking of this development, Hyungchul Park, Lead of Web 3.0 Roundtable at KRAFTON Inc said:

“KRAFTON will continuously see ways to work closely with blockchain companies like Solana Labs as we work toward establishing our Web 3.0 ecosystem. As one of the best global high-performance blockchain with strength in high speed and low fees, Solana represents the best of the Web 3.0 ecosystem and its technologies. Through this cooperation, KRAFTON will acquire the insight needed to accelerate its investment in and output of blockchain-based experiences.”

Krafton and Solana Labs: Building a Long-Term Cooperative Relationship

Krafton said that with its recent partnership with Solana Labs, it seeks to build a long-term cooperative relationship. With this cooperation, the two players will work towards expanding the blockchain-based gaming ecosystem as well as NFT-based games and services.

The two companies will cooperate in the design and marketing of blockchain games. Johnny Lee, Head of Games Business Development at Solana Labs said:

“We’re excited by KRAFTON’s commitment to build the future of gaming on Solana. KRAFTON is an established innovator in the games industry and we are excited to be part of their next level up. We are seeing gamers increasingly seek out on-chain games and gaming companies who respond quickly to this demand will set themselves up well for ongoing success.”

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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