Through the partnership, the companies will enter a "long-term cooperative relationship" to develop and operate blockchain and NFT-based games.
Krafton and Solana will also collaborate towards the marketing and design of blockchain games, as well as other blockchain technologies.
Additionally, the two firms will jointly cooperate on investment opportunities in the growing blockchain and Web3 space.
Exploring new opportunities
"Krafton will continuously see ways to work closely with blockchain companies like Solana Labs as we work toward establishing our Web 3.0 ecosystem," said Krafton lead of Web3 roundtable Hyungchul Park.
"As one of the best global high-performance blockchain with strength in high speed and low fees, Solana represents the best of the Web 3.0 ecosystem and its technologies. Through this cooperation, KRAFTON will acquire the insight needed to accelerate its investment in and output of blockchain-based experiences."
The partnership is on the back of the company’s recent announcement that it will be entering the Web3 and NFT sector. Last month, the firm announced that it had invested $6.6 million to create and sell NFT avatars.
Krafton recently reported that 2021 was its best financial year to date, with "record-high" revenues of $1.57 billion, with PUBG Mobile being a key driver. The firm's commitment to enter the blockchain space is to be expected as the next direction to boost revenues further through the ever-growing sector.
Solana Labs head of games business development Johnny Lee added: "Krafton is an established innovator in the games industry and we are excited to be part of their next level up. We are seeing gamers increasingly seek out on-chain games and gaming companies who respond quickly to this demand will set themselves up well for ongoing success."
It is currently unclear what platforms the partnership will target, however, PocketGamer.biz has reached out to Krafton to determine whether the companies will be focussing on blockchain mobile games.
Last week, Animoca Brands partnered with Bored Ape Yacht Club to transition mobile action game Benji Bananas to play-to-earn.