Krafton Enters Blockchain Space

South Korean video game giant Krafton, known for titles like PUBG: Battlegrounds, is entering the blockchain space with Settlus, a Cosmos-based blockchain designed to facilitate transparent settlements for content creators.

Josh Lee, the founder of Osmosis, recently announced that Krafton will launch the Cosmos-based chain.

Settlus, as described on its official website, is a blockchain purpose-built for the creator economy. It offers features such as using NFTs for royalty rights, on-demand payouts through transparent transaction records, stablecoin-based gas fees, and bridgeless NFT interoperability.

While Krafton announced its blockchain gaming venture on Solana in March 2022, no products have been launched yet. Settlus is set to launch its testnet in early 2024, marking another step towards integrating the rapidly growing creator economy with blockchain technology.

The rise of the creator economy, encompassing content creators in various media, is gaining momentum. By 2023, over 50 million individuals are expected to identify as content creators. According to Goldman Sachs, this growing industry is predicted to grow to $480 billion by 2027, up from $250 billion currently.