Krafton, a PUBG developer, has launched the Competz Esports Platform and has entered the Blockchain Gaming space.
RisingWings, a subsidiary of PUBG owner Krafton, has launched Competz, where winnings can be withdrawn in cryptocurrencies.
RisingWings, a subsidiary of PUBG maker Krafton, has announced its first foray into blockchain gaming with the launch of a new platform called Competz – a move that will seek to promote competitive gaming on select titles with cryptocurrency token-linked rewards.
The Competz platform will include a variety of games that will feature head-to-head matches between two players as well as rewards and collectibles on the platform via non-fungible tokens (NFTs). The move comes shortly after Krafton announced for the first time that it intends to enter the blockchain gaming market.
Competz: How it Works
Moon-chul Kang, vice-president of Krafton's RisingWings, described the platform as follows: "Competz is developed based on RisingWings' experience and technology gained through successfully launching many casual sports games in the global market." It will become a service for everyone by providing a level playing field in which everyone can compete under the same conditions.
Competz will maintain a healthy economy ecosystem as a result of its partnership with BORA, with plans to expand options for users in the future by adding and expanding to different blockchain platforms."
In other words, the Competz platform is hosted on the BORA blockchain, a second layer Ethereum blockchain platform, and its BORA token is also based on the ERC20 (or Ether) token. RisingWings' prior experience in developing casual competitive games in archery, bowling, and golf will be used to bring a similar genre of titles under its new blockchain gaming umbrella. PUBG
Players who participate in competitive gaming on the platform will be rewarded with their own in-game currency. Players can, however, exchange this in-game currency for the BORA token, gaining a broader use case for their winnings on their platform. For example, winnings can now be transferred to other platforms that accept the BORA token.
Krafton also stated that 1,000 NFT profile pictures will be minted using BORA, with a limited number of gamers on the platform able to collect or win them. Those who obtain the NFT profile pictures will also receive "additional benefits." However, it is not yet clear what these advantages would be.