Krafton, the South Korean gaming powerhouse renowned for its iconic battle royale shooter PUBG, has unveiled an ambitious entry into the world of NFT-driven metaverse gaming. Previously codenamed “Project Migaloo,” this groundbreaking endeavor now bears the official moniker: Overdare. Krafton is gearing up for a soft launch of Overdare in December, with a full-scale release anticipated sometime between January and July 2024. Notably, the company has developed its blockchain, Settlus, expressly for this innovative gaming venture. Overdare appears poised to be a mobile game platform reminiscent of Roblox, underpinned by the robust Unreal Engine 5 from Epic Games.
Diving into the Components of the NFT Game
Overdare promises to empower creators with the prowess of generative artificial intelligence (AI) tools, granting them the capacity to craft an array of game genres including shooters, role-playing games (RPGs), and action RPGs, among others. Beyond game development, Overdare offers a rich social dimension, enabling users to forge custom avatars and engage in immersive virtual conversations. A tantalizing teaser trailer hints at an expansive open-world platform. Users can harness AI tools to fashion games and environments, delve into a diverse assortment of user-generated games, attend virtual concerts, and personalize their avatars, among other activities.
Krafton’s Collaboration and “Create-to-Earn” Economy
Initially introduced as a collaboration with Naver Z, an augmented reality (AR) technology company, Krafton now retains an 85% stake in Overdare, with Naver Z holding the remaining 15%. One of Overdare’s standout features is its “create-to-earn” game economy, where players can buy and sell in-game digital assets as non-fungible tokens (NFTs). The decision to embrace NFTs is rooted in their capacity to offer transparency and secure transactions. To facilitate this, Krafton and Naver Z are deploying the Settlus blockchain to power Overdare’s in-game economy.
Navigating the “Crest-to-Earn” Terrain
Gamers will have the opportunity to earn funds in Coinbase and Circle’s U.S. dollar-backed stablecoin, USDC, through the Settlus blockchain. This integration with Cosmos was unveiled during a Korea Blockchain Week event. Described as “the future of the creator economy” by the Settlus Twitter account, this blockchain, created by Krafton, hints at the introduction of an “NFT licensing system.” However, the specific details of this system remain undisclosed. The post also highlights ongoing efforts to address potential challenges associated with Overdare’s NFT economy.
These efforts include exploring the possibility of offering optional NFTs as opposed to mandatory ones, addressing issues related to item scarcity, and mitigating problems stemming from volatile token prices that can negatively impact gamers and creators. While Settlus currently lacks its own token, the utilization of stablecoins like USDC is a strategic choice. Stablecoins are designed to maintain a stable peg to the U.S. Dollar, offering less volatility compared to cryptocurrencies such as Bitcoin and Ethereum, making them more practical for transactions within the gaming ecosystem.
As Overdare prepares for its soft launch and eventual full release, the gaming and NFT communities are poised to closely monitor its progress. Krafton’s ambitious project, coupled with the integration of NFTs and blockchain technology, possesses the potential to redefine the metaverse gaming landscape. It underscores the growing significance of NFTs and blockchain in the gaming industry, presenting fresh opportunities for both players and creators. Nonetheless, surmounting challenges related to NFTs, including volatility and ensuring a positive experience for all users, remains pivotal to Overdare’s success. Ultimately, Overdare marks a significant stride in the evolution of gaming, amalgamating creativity, blockchain technology, and the metaverse into a compelling and potentially groundbreaking experience.
