Cosmos Blockchain Welcomes Krafton, the South Korean Gaming Giant, with Settlus Chain Launch
During the Circle Hacker House event, Krafton, a leading South Korean video game company renowned for titles like PUBG: Battlegrounds, made a significant announcement. They revealed plans to venture into the Cosmos blockchain network by launching a dedicated Cosmos-based chain named Settlus. This announcement was further highlighted by a tweet from DEX Osmosis’ founder, Josh Lee, on September 4.
In their pursuit of blockchain technology, Krafton had previously announced a partnership with Solana Labs in March 2022. This collaboration aimed to support the development and promotion of blockchain-based games and services. However, as of now, no concrete products or games have emerged from this collaboration.
Settlus, as described on its official website, is a purpose-built blockchain designed to function as a settlement system for the creator economy. Its features include utilizing NFTs for royalty entitlements, enabling instant payouts with transparent transaction histories, implementing stablecoin-based gas fees, and ensuring seamless NFT interoperability without requiring bridges.
The creator economy has witnessed significant growth, boasting over 200 million content creators in 2023. Goldman Sachs projects a remarkable surge in the creator economy, estimating it to reach almost $480 billion by 2027, a substantial increase from the anticipated value of $250 billion in 2023. Data also indicates that brand deals will constitute the primary revenue source, contributing to approximately 70% of creators’ income.
In 2023, Cosmos has taken several developmental strides, including its expansion to multiple blockchains, an announcement made in April. Notably, Cosmos executed a Solidity implementation of IBC to establish a connection between Ethereum and the Cosmos blockchain.
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