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

Introduction

KRAFTON, a game development company, and Naver Z, a South Korean internet giant’s metaverse unit, have announced their agreement to form a joint venture in North America. The two companies will invest 48 billion Korean won, approximately $36.4 million, in the new North American entity. The joint venture will be owned 85% by KRAFTON, while NAVER Z will own the remaining 15%.

The Purpose of the Joint Venture

The purpose of the joint venture is to expand the companies’ reach in the gaming and metaverse industries, particularly in North America. The partnership will allow the two companies to take advantage of each other’s strengths to create new and innovative products. The collaboration will also help to reduce costs and increase efficiency in the development and release of new games.

KRAFTON’s Contribution to the Joint Venture

KRAFTON is a leading game development company known for creating popular titles such as PLAYERUNKNOWN’S BATTLEGROUNDS (PUBG) and TERA. The company has a strong reputation for creating high-quality games that are loved by millions of players worldwide. KRAFTON’s contribution to the joint venture will include its expertise in game development, distribution, and marketing.

NAVER Z’s Contribution to the Joint Venture

NAVER Z is a metaverse unit of a leading South Korean internet company, Naver. The company is an emerging player in the metaverse industry, and its focus is on creating immersive virtual worlds that integrate social and gaming experiences. NAVER Z’s contribution to the joint venture includes its expertise in creating immersive and interactive virtual environments.

The Potential Impact of the Joint Venture

The joint venture between KRAFTON and NAVER Z has the potential to have a significant impact on the gaming and metaverse industries. The partnership will allow the two companies to create new and innovative products that combine KRAFTON’s gaming expertise with NAVER Z’s immersive virtual worlds. The partnership will also allow the two companies to pool their resources and reduce costs in the development and release of new games.

Conclusion

The joint venture between KRAFTON and NAVER Z is an exciting development for the gaming and metaverse industries. The partnership will allow the two companies to combine their strengths and create innovative new products that will delight players worldwide. The collaboration will also help to reduce costs and increase efficiency in the development and release of new games.

FAQs

Q: What is KRAFTON?

A: KRAFTON is a leading game development company known for titles such as PLAYERUNKNOWN’S BATTLEGROUNDS (PUBG) and TERA.

Q: What is NAVER Z?

A: NAVER Z is the metaverse unit of a leading South Korean internet company, Naver. The company is focused on creating immersive virtual worlds that integrate social and gaming experiences.

Q: What is the purpose of the joint venture?

A: The purpose of the joint venture is to expand the companies’ reach in the gaming and metaverse industries, particularly in North America.