- Video game company Krafton will be launching Settlus, a Cosmos-based chain.
- The new venture is designed to provide creators with a transparent settlement system.
- Krafton is the developer behind PUBG, the popular shooter game.
According to the latest reports from Wu Blockchain, Josh Lee, the founder of Osmosis, recently announced that South Korean video game holding company Krafton will be launching Settlus, a Cosmos-based chain designed to provide creators with a transparent settlement system.
As per reports, the testnet for Settlus will be launched in early 2024. Krafton announced the creation of a blockchain game on Solana back in March 2022 but has not launched any products since then.
Settlus, from the details on the website, claims to be a purpose-built blockchain that offers a transparent settlement system for creators. Features mentioned on the site include using NFT for royalty rights, on-demand payout through transaction records, gas fee as stablecoins, and bridgeless NFT interoperability.
“Our goal is to serve as the gateway connecting web2 products with the diverse realms of web3, rather than empty promises of creating a new universe,” stated the Settlus team. Project Migaloo is the first out of their many projects.
“While we strongly believe in the vision of Settlus,” said the team, “we also recognize the importance of validating whether this is truly what the world wants.” Through Migaloo, a UGC-centric metaverse project, the team aims to validate this belief.
The Settlus project envisions transparent and borderless settlement coupled with granting royalty rights from original works to NFTs, as a significant catalyst for the creator ecosystem. “As Migaloo accumulates a wide array of creations, and as unique IPs from other chains flow in, the ecosystem of Settlus will grow exponentially in collaboration with various content platforms,” claimed the team.
Krafton is the developer of the shooter game PUBG which has more than 294 million users worldwide. The gaming company has reaffirmed that it is dedicated to identifying and publishing games worldwide that offer a uniquely enjoyable experience.