Krafton Inc., the prominent South Korean game developer, is set to launch a collaborative metaverse platform in partnership with Naver Z, a metaverse division of Naver Corp., the nation’s leading portal company. The venture, known as Overdare, is scheduled for its grand unveiling this December.
Overdare, the platform’s name and the moniker for the newly established company represents a mobile-centric user-generated content (UGC) platform. It empowers users to craft games encompassing action role-playing, sports, and shooting genres, marking a significant foray into the metaverse landscape.
The choice of naming the company and the metaverse platform as “Overdare” holds a profound meaning. In this context, “overdare” embodies a spirit of recklessness and boldness, akin to venturing into uncharted territories. Its phonetic similarity to “over there” emphasizes the company’s fearless pursuit of pioneering a mobile interactive production platform that defies convention, promising an unprecedented user experience. Krafton, with an 85% ownership share, and Naver Z, holding 15%, have jointly invested 48 billion won (approximately $36.1 million) in this metaverse venture, underlining their commitment to its success.
Krafton has announced its plans to reveal the Overdare metaverse platform in December, with an official launch set for the first half of the upcoming year following a trial phase.
The strategic investment in this joint venture totals 48 billion won, with Krafton commanding the lion’s share at 85% ownership, while Naver Z holds a 15% stake. Under the umbrella of South Korea’s internet giant Naver, Naver Z is responsible for managing the metaverse platform Zepeto, adding to its metaverse expertise.
Overdare is a mobile-centric user-generated content (UGC) platform offering users the creative freedom to develop various games, including action role-playing, sports, and shooting games.
Further, Overdare plans to develop a create-to-earn (C2E) system. The concept helps content creators generate digital works that users can purchase and own. Transactions involving copyrighted works are carried out using non-fungible tokens (NFTs) and blockchain technology. What sets this apart is the ability to quantify profits through USD Coin, a digital stablecoin firmly tethered to the US dollar.
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