Krafton, the force behind PUBG, unveils Settlus Chain on the Cosmos network. In this article, we will explore how this blockchain platform promises to reshape gaming by enhancing creator compensation, introducing NFTs, and simplifying blockchain integration.
Settlus Chain — a Blockchain Platform for Creators
South Korean video game company Krafton (the company renowned for the gaming juggernaut PlayerUnknown’s Battlegrounds (PUBG)) has unveiled Settlus Chain, a blockchain platform designed to provide creators with a transparent and efficient settlement system.
The platform is built on the Cosmos (ATOM) network and will use NFTs to govern and protect royalty rights. Settlus Chain will also allow for instant payouts via transaction records and seamless NFT interoperability.
This revelation was made public by none other than Mr. Josh Lee, the visionary behind the decentralized exchange (DEX) Osmosis (OSMO). He disclosed this groundbreaking initiative at the Circle Hacker House event, co-hosted by AngelHack and Circle, on the evening of September 4, 2023.
“Settlus Chain is a significant milestone for the gaming community and the broader blockchain ecosystem,”. “With its promise of transparency, efficiency, and empowerment for creators, Settlus Chain has the potential to redefine the gaming industry’s landscape.”
Settlus Chain’s Promise to Creators
Settlus Chain is designed to address some of the key challenges facing creators in the gaming industry. These challenges include:
- Lack of transparency: In the traditional gaming industry, creators often have little visibility into how their work is being monetized. This can lead to disputes and uncertainty about payments.
- Inefficiency: The traditional payment process for creators can be slow and cumbersome. This can delay payments and make it difficult for creators to manage their finances.
- Lack of control: Creators often have little control over their intellectual property. This can make it difficult for them to protect their work and ensure that they are fairly compensated.
Settlus Chain aims to solve these challenges whereas providing creators with a transparent, efficient, and secure settlement system. The platform will use NFTs to represent royalty rights, which will be stored on the blockchain. As a result, creators will have clear ownership of their work and be able to track how it is being used. In addition, Settlus Chain streamlines NFT interoperability, removing the need for convoluted bridges between different blockchain networks. This feature promises to enhance the versatility of NFTs, making them easier to use and trade.
Moreover, Settlus Chain will also use transaction records to facilitate instant payouts. So, this will eliminate the need for long wait times and manual payments. Additionally, the platform will use stablecoins for gas fees, which will provide a more consistent and predictable cost structure for users.
Soon, the testnet for Settlus Chain is scheduled to launch in early 2024. The platform is expected to be fully operational by the end of the year.
Conclusion
Krafton’s move to embrace blockchain technology through Settlus Chain is a sign of the growing importance of blockchain in the gaming industry. In fact, as blockchain continues to mature and evolve, it has the potential to revolutionize the way games are created, played, and monetized. Settlus Chain is one of the most ambitious blockchain projects in the gaming industry, and if it is successful, it could have a major impact on the way games are created and played.
Disclaimer: The information in this article is not investment advice from CryptoChill. Overall, cryptocurrencies always carry many financial risks. Therefore, do your own research before making any investment decisions based on this website’s information.
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