Krafton, the renowned South Korean game studio responsible for the popular battle royale sensation PUBG, unveiled exciting details about its upcoming NFT-driven metaverse game project, officially named "Overdare." This announcement was made on Thursday, offering a tantalizing glimpse into this creative platform.
Previously referred to as "Project Migaloo," Overdare is set to soft-launch in December, with a full release expected sometime between January and July 2024, according to a statement released by Krafton. A noteworthy aspect of this project is Krafton's creation of its own blockchain called "Settlus," tailored specifically for Overdare.
Overdare seems poised to resemble Roblox in its essence, serving as a mobile game platform constructed using Epic Games' powerful Unreal Engine 5. This innovative platform empowers creators with generative artificial intelligence (AI) tools to design a diverse range of games, including shooters, role-playing games (RPGs), and action RPGs. In addition to game creation, Overdare offers a social element by allowing users to design custom avatars and engage in interactive chat.
The official teaser trailer for Overdare provides a sneak peek into an expansive open-world environment. Here, users can craft games and settings using AI tools, partake in an array of user-generated games, attend virtual concerts, personalize their avatars, and more.
Krafton initially introduced this project earlier this year as a collaborative venture with Naver Z, an augmented reality (AR) technology firm. Krafton retains the lion's share of 85%, while Naver Z holds the remaining 15% ownership.
Overdare is committed to implementing a "create-to-earn" game economy. This model allows gamers to purchase and sell in-game digital assets in the form of NFTs (Non-Fungible Tokens). According to a statement, NFTs have been chosen due to their ability to provide "transparency and secure transactions."
Krafton and Naver Z are leveraging the newly revealed Settlus blockchain to drive Overdare's economy. This system will enable gamers to accrue funds in cryptocurrency giants Coinbase and Circle's U.S. dollar-backed stablecoin, USDC. The use of Cosmos for facilitating USDC payments was announced during the recent Korea Blockchain Week event.
The official Settlus X formerly Twitter account touts it as a blockchain developed by Krafton and labels it as "the future of the creator economy."
In a Medium blog post, Settlus by Krafton divulged plans for an "NFT licensing system," albeit without detailed specifics. The post also alluded to ongoing efforts to address potential issues with Overdare's NFT economy, including the possibility of offering optional NFTs rather than making them mandatory, handling item scarcity or abundance, and mitigating problems arising from volatile token prices that could adversely affect gamers and creators. The introduction of its own token by Settlus in the future remains uncertain.
Stablecoins like USDC are favored by crypto firms and traders due to their stability, as they are designed to maintain a fixed value tied to the U.S. Dollar, unlike the more volatile cryptocurrencies such as Bitcoin and Ethereum.