The Metaverse is extending its reach in Web3 and especially in the gaming department. The world of gaming and Battle Royale was completely changed when PubG was introduced to the market. The famous game was first introduced as a Windows game in 2017 under the name of PUBG: Battlegrounds. Now, the world of gaming is completely changing with the creators of PubG’s announcement of a new gaming platform. Migaloo Metaverse, this Metaverse will also work on incorporating NFTs to solidify the deep relationship between gaming and NFTs in the Metaverse. Let’s dig in.
PUBG: Battlegrounds (originally PlayerUnknown’s Battlegrounds), is a Krafton creation. Krafton is a South Korean studio that is behind the famous Battle Royale game is now joining the Metaverse. The new project by the creators of PubG is a Metaverse integration plan that will lead the famous WINDOWS and Mobile game and others into the Metaverse. This plan is established by Krafton and a South Korean augmented reality firm called, Naver Z.
Both Krafton and Naver Z have created a Web3 Metaverse game platform with the name of Migaloo Metaverse. The two South Korean companies created a joint venture company based in North America and poured $36.8 million into Migaloo’s development, according to a release this week. Under the arrangement, Krafton will own an 85% stake in the venture, and Naver Z will hold the remaining 15%.
Migaloo is under development by a AAA game studio and aims to offer a “create-to-earn” system. In which users can create, buy, and sell in-game assets as NFTs.
The project is very much hush-hush and there is no further info to disclose just yet. The Migaloo Metaverse is still under development although it has been under development since 2022.
Krafton and Naver Z
Henry Hyung-Chul Park, head of the Migaloo project at Krafton, said: “After much consideration, we defined the core services and a specific model of the metaverse that is attractive and feasible, and proceeded with the establishment of the joint venture.”
“As both companies have abundant experience in successful global content services and have united their efforts, we will definitely achieve good results,” he added.
Naver Z CEO Chang-Wook Kim said: “The creator-centered ecosystem that we built in Zepto will also be implemented in Migaloo.” “We will grow Migaloo as a new Metaverse platform where creators can realize new values in an NFT-based ecosystem based on their own creations.”
The Migaloo Metaverse Is It BS?
Currently, there are many projects in Web3 and the Metaverse coming out. Yet, people have grown wary of project announcements, and rightfully so. The amount of rug pulls we witness in Web3 on a daily bases is not okay. And has made people very timid.
No one is able to trust new ventures and projects anymore. The Migaloo Metaverse project could just be another rug pull and a way to pull users. Using Krafton and Naver Z’s popular game PubG to rope people in.
But, it may also be the next best thing! And it definitely has the potential to be a major progress in the gaming industry. NFT Metaverse games in 2023 are likely to offer a rich and engaging gaming experience that goes far beyond what is currently possible in traditional video games.
So, would you trust this new project? Or do you think it’s just another scam by a major company? Trying to gather loyal users and then proceed to rug pull?