1. PixelPlaygroundHome
  2. Web3 News

KRAFTON and Naver Z to Form Joint Venture in North America

• Web3 News • 89 views

According to reports, game developer KRAFTON and South Korean internet giant Naver\’s metaverse unit Naver Z will form a new joint venture in North America. The two companies will i

KRAFTON and Naver Z to Form Joint Venture in North America

According to reports, game developer KRAFTON and South Korean internet giant Naver’s metaverse unit Naver Z will form a new joint venture in North America. The two companies will invest 48 billion Korean won (approximately $36.4 million) in the new North American entity. KRAFTON will own 85% of the shares in the joint venture, while NAVER Z will own the remaining 15%.

KRAFTON and Naver Z will form a new joint venture in North America to expand the metaverse, with an initial investment of $36.4 million

The gaming industry is evolving rapidly, and the metaverse is one of the most promising areas. According to recent reports, KRAFTON, the game developer behind the popular game PlayerUnknown’s Battlegrounds (PUBG), and Naver Z, the metaverse unit of South Korean internet giant Naver, are partnering to form a new joint venture in North America. The partnership will invest 48 billion Korean won (approximately $36.4 million) in the new entity, with KRAFTON owning 85% of the shares and NAVER Z owning the remaining 15%.

What is KRAFTON?

KRAFTON is a South Korean game development company that was formerly known as Bluehole Studio. Established in 2007, the company has since grown to become one of the largest game studios in South Korea, responsible for a number of popular games such as PUBG and TERA.

Who is NAVER Z?

Naver Z is the metaverse unit of the South Korean internet giant NAVER, which is best known for its search engine service in South Korea. NAVER has been investing heavily in the metaverse in recent years, with a focus on developing virtual reality and augmented reality technologies. Naver Z was established in 2020 and is responsible for various metaverse-related projects, including AI-powered virtual assistants and virtual reality content.

What is a Joint Venture?

A joint venture is a partnership between two or more companies to pursue a specific business goal. Joint ventures can be advantageous for companies, as they allow them to share risks and resources while pursuing a common objective.

The Significance of the Joint Venture

The joint venture between KRAFTON and Naver Z is significant for several reasons. First, it highlights the growing importance of the metaverse in the gaming industry. The metaverse is a virtual world where players can interact with each other and the environment in real-time. With the rise of new technologies like virtual reality and augmented reality, the metaverse is poised to become a game-changer in the gaming industry in the coming years.
Second, the joint venture between KRAFTON and Naver Z is a reflection of the growing interest in the North American gaming market. KRAFTON has enjoyed significant success in Asia with PUBG, but the North American market represents a significant growth opportunity. The joint venture allows KRAFTON and Naver Z to pool their resources to pursue this opportunity together.

The Future of the Joint Venture

The joint venture between KRAFTON and Naver Z is still in its early stages, and it remains to be seen what specific projects the partnership will undertake. However, both companies bring unique strengths to the table that could help them succeed in the competitive North American gaming market. KRAFTON’s experience in developing successful games like PUBG could be complemented by Naver’s expertise in developing virtual reality and augmented reality technologies.

Conclusion

The joint venture between KRAFTON and Naver Z to form a new entity in North America is a significant development in the gaming industry. It highlights the growing importance of the metaverse and reflects the increasing interest in the North American gaming market. The partnership between KRAFTON and Naver Z could pave the way for exciting new metaverse-related projects in the coming years, and it will be exciting to see what the future holds for the joint venture.

FAQs

Q1: What is KRAFTON?
A: KRAFTON is a South Korean game development company responsible for popular games like PUBG and TERA.
Q2: Who is Naver Z?
A: Naver Z is the metaverse unit of the South Korean internet giant NAVER, which is best known for its search engine service in South Korea.
Q3: What is a joint venture?
A: A joint venture is a partnership between two or more companies to pursue a specific business goal.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/16895/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 04/18/2023 12:22
Next 04/18/2023 12:43

Recommended articles