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Krafton Invests $36.8 Million in Web3 Metaverse Game Migaloo

Krafton, the South Korean studio behind the popular PUBG: Battlegrounds, is still working on its Web3 metaverse game platform, Migaloo.

The studio has poured $36.8 million into the platform's development, establishing a joint venture with South Korean augmented reality firm Naver Z to create Migaloo. Under the arrangement, Krafton owns an 85% stake in the venture, while Naver Z holds a 15% stake. As a AAA game studio, Krafton aims to offer a "create-to-earn" system for users, where they can create, buy, and sell in-game assets as NFTs. 

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