- Krakton, the game development firm behind the popular PUBG Battleground, Circle, and AngelHack, introduced Settlus, a Cosmos-based blockchain.
- Settlus Testnet is expected to start in early 2024.
Krakton Unveils Settlus, a Cosmos-based Blockchain
The world of blockchain, gaming, and finance harmonized to introduce Settlus, a Cosmos-based blockchain that utilizes Cosmos SDKs for settling payments in USDC.
Krakton, the game development firm behind PUBG: Battleground (a battle royale game Previously known as Player Unknown’s Battlegrounds), Circle (the blockchain-based payment company behind USDC stablecoin), and AngelHack (a DevRel platform), introduced Settlus at the Circle Hacker House event.
Jeremy Allaire also announced the project in a post on X (formerly Twitter).
“It’s pretty exciting when a gaming giant with 30M MAU (@PUBG) announces a new effort to bring a payment and settlement layer using $USDC on @cosmos at the Circle Hacker House Korea.”
According to its website, Settlus is a purpose-built blockchain designed to provide a transparent settlement system for the creator economy.
The Cosmos-based blockchain plans to offer several features, including using NFTs for royalty rights, bridgeless NFT operability, stablecoin-based gas fees, and on-demand payouts through transaction records.
In March 2022, Krafton partnered with Solana Labs to launch NFT-based games and services, but the game developer has launched no product since the announcement.
The partnership between Krakton and Solana Labs was revealed to be a Memorandum of Understanding(MOU), which allowed the game developer company to discontinue the partnership without facing legal consequences. Josh Lee, the CEO of Osmos DEX, a Cosmos-based platform, revealed on September 4th that Krakton was planning to launch a blockchain. The claim was confirmed by another builder on Cosmos blockchain, Jelena, the co-founder of Noble.
At the Circle Hacker House event, Krakton, Circle, and AngelHack introduced Settlus to the public as an app chain coming to Cosmos, with USDC as its primary digital currency.
Settlus will utilize the Cosmos Software Development Kit(SDK), a framework for building layer one blockchains that are interoperable with other chains built of the same standard.
Settlus’ website and social media accounts went live yesterday after the formal announcement. According to its website, the Cosmos-based app chain will be utilized for metaverse projects. Migaloo will be the first metaverse project launched on Settlus. It will be a UGC-centric metaverse project that will mark the beginning of Settlus’s growth and the demand for blockchain technology in the creator economy.
Creator Economy in Web3
Like several sectors, the creator economy in Web3 remains untapped, filled with massive potential, and expected to attain $480 billion by 2027, according to Goldman Sachs. The creator economy is currently worth $250 million. Massive onboarding to blockchain technology is crucial for the growth of the creator economy.
Krakton’s PUBG: Battleground game has about 30 million users. Through Krakton, millions of users are expected to be onboarded to the creator economy in Web3, which will be Settlus.
“As Migaloo accumulates a wide array of creations, and as unique IPs from other chains flow in, the ecosystem of Settlus will grow exponentially in collaboration with various content platforms,” the website reads.
Settlus Testnet will be launched in early 2024.
