South Korean company Krafton, which develops and distributes online video games, will launch the Settlus network based on Cosmos. This was reported by Josh Lee, co-founder of DEX Osmosis.
«This is a deliberately created blockchain designed to ensure a transparent settlement system in the creator economy,» according to the project’s website.
According to the developers, the solution is intended to merge Web 2.0 with Web3. They believe such an integration will bring significant innovations to the existing Internet industry.
The protocol’s testnet is planned for early 2024.
Among the features of the future network are:
- modular architecture;
- on-demand payouts via transaction records;
- gasless compatibility with non-fungible tokens;
- use of NFT to receive royalties;
- gas payments in stablecoins.
The company named Migaloo the first potential project on the new blockchain. The firm анонсировала creation of a virtual world in April 2023, investing about $36.8 million in development.
Krafton’s first-quarter revenue amounted to $407,8 млн. The company’s flagship application — PUBG: Battlegrounds — accounted for 33% of the total.
Earlier, in March 2022, the company entered into a partnership with Solana Labs to build and promote blockchain games.