Krafton, the well-known South Korean video game company behind games like PUBG: Battlegrounds, is venturing into the world of blockchain with the launch of Settlus. Settlus is a blockchain platform built on Cosmos, specifically designed to simplify transparent settlement processes for content creators. The testnet for Settlus is scheduled to be launched in early 2024.
The news was initially revealed by Josh Lee, the founder of Cosmos-based DEX Osmosis, on September 4, and was later confirmed by the co-founder of Noble, a Cosmos-based app-chain. Krafton is said to be developing an app chain on the Cosmos platform and plans to utilize Circle’s USDC stablecoin as the primary currency for settlements with creators.
In March 2022, Krafton announced a collaboration with Solana Labs, focusing on blockchain and NFT-based games and services. However, no products have been released by Krafton since then, and their partnership with Solana was described as a memorandum of understanding, meaning they have the flexibility to discontinue the partnership if needed.
The Cosmos Network itself is a decentralized network of scalable and interoperable blockchains, designed to facilitate communication among distributed ledgers without relying on a centralized server.
The introduction of Settlus and Krafton’s entry into the blockchain space are significant developments for the creator economy, and it will be interesting to see how this venture unfolds in the future.
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