What Krafton does

Krafton, Inc. (주식회사 크래프톤) is a South Korea-headquartered, publicly listed (KOSPI: 259960) multi-studio game publisher founded in 2007 as Bluehole Studio and consolidated under the Krafton brand ahead of its August 2021 IPO. The company develops and publishes PC, console, and mobile games, anchored by the PUBG franchise (PUBG: BATTLEGROUNDS, BGMI in India, PUBG: NEW STATE MOBILE) and an expanding portfolio that includes Subnautica 2, inZOI, The Callisto Protocol, Hi-Fi RUSH, Last Epoch, MIMESIS, and upcoming titles like NO LAW, Project ZETA, and Project Windless, all produced through wholly owned studios (PUBG Studios, Bluehole, RisingWings, Striking Distance, Unknown Worlds, 5minlab, Neon Giant, Tango Gameworks, inZOI Studio, ReLU Games, Flyway Games, Eleventh Hour Games, KRAFTON Montréal, OVERDARE, OmniCraft Labs) plus the Ludo Robotics physical-AI subsidiary.

The technology stack is increasingly AI-centric: the open-source Raon model family (Raon-Speech, Raon-SpeechChat, Raon-OpenTTS, Raon-VisionEncoder) is published on Hugging Face; the Co-Playable Character (CPC) system in PUBG Ally is built on NVIDIA ACE; the Smart ZOI NPC system in inZOI is co-developed with NVIDIA; and Meta-Harness research with Stanford and MIT automates LLM-harness optimization. Internally, Krafton consolidated observability onto Datadog, reducing incidents 107→24 and MTTD 8.8→1.6 minutes.

The business model combines free-to-play mobile/PC battle royale monetization (PUBG/BGMI in-game purchases) with premium one-time purchases (Subnautica franchise at $29.99, plus catalog of Subnautica, inZOI, Last Epoch, Dinkum, Hi-Fi RUSH) and ancillary streams including esports sponsorships, IP licensing to Naver Chzzk, and a venture investment portfolio ($250M+ in India, $476.4M Unicorn Growth Fund with Naver/Mirae Asset, plus stakes in SOCAR, Cashfree, NODWIN Gaming, Bitkraft Ventures, Kuku, The Black Label, and Psychedelic Games). Customer segments span Indian mobile gamers (260M+ BGMI downloads, 9M+ DAU), global PUBG players, premium PC/console survival game enthusiasts, Indian fintech consumers (via planned UPI services), Indian gaming startups (via KRAFTON India Gaming Incubator), and esports athletes.

Name

Krafton

Legal name

KRAFTON, Inc. (주식회사 크래프톤)

Website

https://krafton.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Krafton is a South Korea-based, publicly listed multi-studio game publisher best known for the PUBG/BGMI battle royale franchise (260M+ BGMI downloads in India), Subnautica, inZOI, and a growing portfolio of PC, console, and mobile titles, now expanding into physical AI, fintech, and ad tech through aggressive M&A and India-focused venture investing.

Ownership category

akta.pro rank

Product category

Video Game Development and Publishing

SIC

Sporting & Athletic Goods, Nec (3949)

akta.pro primary industry

Franchise-Based Esports Leagues (MPAKANAC)

akta.pro secondary industry

Esports Rights, Licensing & IP Management (Media Rights, Franchising) (MPAFADAG)

Keywords

• Battle royale games
• Mobile gaming apps
• Game publishing platform
• Life simulation games
• Interactive entertainment software

Headquarters

HQ city

Seongnam

HQ country

South Korea

HQ region

Asia

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations, Supply Chain

Revenue model

1. Free-to-play in-game purchases (PUBG/BGMI): Primary revenue stream driven by in-game purchases (skins, crates, battle passes, cosmetic items) across PUBG: BATTLEGROUNDS and BGMI, with BGMI paying users growing 17% YoY in Q1CY26. PUBG IP franchise exceeded KRW 1 trillion in quarterly revenue with 24% YoY growth.
2. Premium game sales (Subnautica 2 and others): One-time premium sales of titles like Subnautica 2 (priced at $29.99), Subnautica (18M+ copies lifetime), inZOI, The Callisto Protocol, Hi-Fi RUSH, Last Epoch, Dinkum, and others sold via Steam, Xbox, PlayStation, Epic Games Store, and Xbox Game Pass partnerships.
3. Esports sponsorships and brand partnerships: Revenue from esports sponsors (iQOO, Realme, Hero MotoCorp for BGMI Esports), brand collaborations (Aston Martin, Apollo Automobil for PUBG content; Ford, Harley-Davidson in BGMI 4.4), and film/IP crossover integrations (Toxic film starring Yash in BGMI).
4. Investment and venture returns: Returns from venture investments including the $476.4M (KRW 700B) India-focused Unicorn Growth Fund with Naver and Mirae Asset, $250M+ invested in Indian startups since 2021, stakes in SOCAR (KRW 65B for 13.44%), Bitkraft Ventures' Global Fund, Cashfree Payments ($53M led round), Kuku Technologies, Psykedelic Games ($3.5M led), The Black Label (Series B KRW 120B), and NODWIN Gaming.
5. IP licensing and broadcasting rights: Licensing of PUBG esports IP to Naver's Chzzk streaming platform for tournament broadcasts, league partnerships, and Chzzk creator content; broader IP licensing arrangements.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels11 records

Core offering

Krafton is a multi-studio video game developer and publisher that creates, distributes, and monetizes interactive entertainment across PC, console, and mobile platforms. Its flagship PUBG battle royale franchise anchors a diversified portfolio of self-developed and acquired titles including Subnautica 2, inZOI, The Callisto Protocol, Hi-Fi RUSH, and Last Epoch, supported by the KRAFTON AI initiative (Raon models, PUBG Ally CPC) and a global esports ecosystem (PUBG Nations Cup, BGIS, BMPS).

Product overview

KRAFTON operates a multi-studio game publishing platform spanning dozens of titles across PC, console, and mobile rather than a single unified product. Its core platform is built around the PUBG franchise (PUBG: BATTLEGROUNDS plus regional variants BGMI and PUBG: NEW STATE MOBILE) supported by PUBG Esports (BGIS, BMPS, PNC) and the PUBG Universe transmedia IP. Around this core, KRAFTON publishes a portfolio of sub-branded titles developed by acquired and internal studios: Subnautica, Subnautica 2, and Moonbreaker from Unknown Worlds; Hi-Fi RUSH from Tango Gameworks; The Callisto Protocol and [REDACTED] from Striking Distance Studios; The Ascent and NO LAW from Neon Giant; MIMESIS and Uncover the Smoking Gun from ReLU Games; Last Epoch from Eleventh Hour Games; inZOI from inZOI Studio; My Little Puppy, Ronin: The Last Samurai, and Road to Valor from Dreamotion; Smash Legends, Kill the Crows, and Dinkum Together from 5minlab; Trinity Survivors and Commander Quest from Flyway Games; plus BGMI in India and Rivals Hover League from EF Games. The platform also extends to the KRAFTON AI initiative (the open-source Raon model family on Hugging Face, Smart ZOI NPCs in inZOI, and the PUBG Ally Co-Playable Character built with Nvidia ACE), the KRAFTON JUNGLE developer training program (SW-AI Lab, Game Lab, Game Tech Lab), the Unicorn Growth Fund in India co-managed with Naver and Mirae Asset, the Ludo Robotics subsidiary for physical AI, and ancillary brand experiences such as PUBG Seongsu.

Differentiator

Problem solved

Functional benefit

Brands

• PUBG (franchise): Flagship battle royale franchise including PUBG: Battlegrounds, PUBG Mobile, PUBG: New State Mobile, BGMI (Battlegrounds Mobile India) and the PUBG Universe transmedia IP.
• inZOI
• Subnautica / Subnautica 2
• TERA
• KRAFTON AI
• KRAFTON JUNGLE

Products and services

• PUBG: BATTLEGROUNDS Free-to-play battle royale game from PUBG Studios, available on Steam, Xbox, PlayStation, and Epic Games Store. The PUBG IP franchise is the foundation of the PUBG Esports ecosystem and is Krafton's largest single revenue driver.
• Battlegrounds Mobile India (BGMI) Free-to-play mobile battle royale game from KRAFTON India with 260M+ cumulative downloads, 9M+ DAU, and 17% YoY growth in paying users in Q1CY26. Powers KRAFTON India's BGIS and BMPS esports ecosystem.
• PUBG: NEW STATE MOBILE Mobile battle royale game from RisingWings published by Krafton on iOS and Android app stores.
• inZOI Life simulation game from inZOI Studio featuring the "Smart ZOI" AI-driven NPC system developed in collaboration with NVIDIA. Positioned as a competitor to The Sims franchise.
• Subnautica 2 Underwater survival sequel developed by Unknown Worlds Entertainment and co-published by Krafton. Launched at $29.99 in early access on PC and Xbox Series X|S, also day-one on Xbox Game Pass.
• Subnautica Original underwater survival game from Unknown Worlds Entertainment, acquired by Krafton in October 2021. Over 18 million copies sold lifetime.
• Subnautica: Below Zero Standalone expansion to Subnautica from Unknown Worlds Entertainment, available on Steam, Xbox, and PlayStation.
• The Callisto Protocol Survival horror game from Striking Distance Studios, a Krafton-owned AAA development studio.
• Hi-Fi RUSH Rhythm-based action game originally from Tango Gameworks, acquired by Krafton from Microsoft.
• Last Epoch Action RPG (ARPG) from Eleventh Hour Games, a Krafton subsidiary.
• Dinkum Australian-themed open-world farming/life simulation game published by Krafton.
• Dinkum Together Multiplayer/cooperative version of Dinkum developed by 5minlab, a Krafton subsidiary.
• SMASH LEGENDS Real-time action game from 5minlab, a Korean studio acquired by Krafton in 2022.
• The Ascent Cyberpunk-themed top-down action RPG from Neon Giant, a Swedish studio acquired by Krafton in November 2022.
• NO LAW Open-world game from Neon Giant built in Unreal Engine 5. Part of Krafton's gamescom 2026 lineup and showcased at Unreal Fest 2026 with the city environment "Port Desire."
• MIMESIS AI-driven horror/exploration game from ReLU Games featuring AI-based NPC "Mimesis" monsters with enhanced situation-judgment after its first major update.
• Kill the Crows Top-down Western-themed shooter from 5minlab, a Krafton subsidiary.
• Moonbreaker Tabletop-inspired miniatures game from Unknown Worlds Entertainment, a Krafton subsidiary.
• My Little Puppy Mobile pet simulation game from Dreamotion, a Krafton-owned studio.
• Ronin: The Last Samurai Action RPG from Dreamotion, a Krafton-owned studio.
• Road to Valor: Empires Mobile strategy game from Dreamotion, part of the Road to Valor series.
• Road to Valor: World War 2 Mobile strategy game from Dreamotion, part of the Road to Valor series.
• Commander Quest Strategy game from Flyway Games, a Krafton-owned studio.
• Uncover the Smoking Gun Mystery/adventure game from ReLU Games, a Krafton creative studio.
• GOLF KING: WORLD TOUR Mobile golf game published by Krafton.
• PUBG Esports Global esports competitive ecosystem built on the PUBG IP, including the PNC (PUBG Nations Cup) 2026 in Seoul, BGIS, BMPS, and a strategic partnership with Naver Chzzk for streaming and content distribution.

Quantifiable outcome

• BGMI paying users grew 17% YoY in Q1CY26
• +6 more outcomes

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability12 records

Feature7 records

Partnerships

20 partnerships are on record, tiered flagship, minor and core.

• Naver CorporationflagshipStrategic or Co-development Partner · 12 June 2026Strategic business agreement to expand PUBG: Battlegrounds esports ecosystem through Naver's Chzzk streaming platform. Includes exclusive content, joint promotions, user participation programs, direct broadcasts of PUBG esports tournaments, league partnerships, interactive features like co-watching, and formal terms for Chzzk creators to use Krafton's IP.
• NVIDIA CorporationflagshipTechnology or Integration · 5 June 2026Multi-dimensional technology partnership: PUBG Ally uses NVIDIA ACE technology for Co-Playable Characters (CPC); Smart ZOI NPC system for inZOI; NVIDIA RTX Spark AI computing platform support with PUBG native Arm compatibility; physical AI and robotics collaboration including Krafton's Ludo Robotics subsidiary; previously discussed at NVIDIA California HQ.
• KAIST College of AIminorOthers · 1 June 2026Krafton among advisory board members for KAIST College of AI, alongside Naver Cloud, Samsung Electronics, SK Telecom, etc. Aimed at cultivating next-generation AI talent.
• MicrosoftcoreTechnology or Integration · 1 June 2026Microsoft confirmed Riot Games and Krafton will bring native Arm support for Valorant and PUBG to NVIDIA RTX Spark platform; over 100 software providers and game developers including Krafton supporting the RTX Spark ecosystem.
• NeptunecoreStrategic or Co-development Partner · 28 May 2026South Korean game developer Neptune partnered with Krafton to launch 'Flick x KRAFTON Casual Game Challenge' (Season 1), offering up to $5 million support pool and minimum guarantees of up to $200,000 (hybrid casual) and $100,000 (hyper casual). Neptune also established KRAFTON Ad Platform India Pvt. Ltd. in New Delhi leveraging BGMI (260M users, 9M+ DAU).
• Toxic (film featuring actor Yash)coreGTM or Marketing Partner · 27 May 2026KRAFTON India collaboration with upcoming film 'Toxic' starring actor Yash, integrated into BGMI's 4.4 update through exclusive voice packs in Hindi and Kannada, Toxic-themed in-game collectibles, and event missions spanning two phases starting May 28, 2026.
• Ford and Harley-DavidsoncoreGTM or Marketing Partner · 21 May 2026BGMI 4.4 update includes brand collaborations with Ford and Harley-Davidson, featuring new vehicles including a Roadster.
• ADK GroupminorStrategic or Co-development Partner · 30 April 2026Krafton's USD 516 million acquisition of ADK (Japanese advertising/creative agency), referenced in MMO market analysis. ADK is listed as a Family Site on KRAFTON.com.
• JetSynthesyscoreStrategic or Co-development Partner · 21 April 2026Krafton in partnership with JetSynthesys bidding for International Cricket Council's (ICC) official gaming rights alongside Electronic Arts (EA Sports), Big Ant Studios, Reliance Jio, Dream Cricket, Lightfury Games, and Nazara Technologies.
• iQOO, Realme, Hero MotoCorpcoreGTM or Marketing Partner · 19 April 2026Brand sponsors for KRAFTON India Esports, using the platform as a brand-building vehicle. KRAFTON India has invested approximately INR 20+ crore in prize money across its four flagship esports IPs since 2023.
• Indian Premier League (IPL) Teams - Chennai Super Kings and Kolkata Knight RiderscoreGTM or Marketing Partner · 2 April 2026Krafton India announced collaborations with Chennai Super Kings and Kolkata Knight Riders during the IPL season to enhance Real Cricket gaming experience for fans in India.
• Yashasvi JaiswalcoreGTM or Marketing Partner · 2 April 2026Cricketer Yashasvi Jaiswal onboarded as brand ambassador for Krafton India's Real Cricket game. Discussed future sports-gaming integrations.
• Neon GiantcoreStrategic or Co-development Partner · 11 November 2022Swedish game studio acquired by Krafton in November 2022, developer of The Ascent (cyberpunk-themed game) and upcoming open-world FPS project. Studio plans to develop NO LAW using Unreal Engine 5.
• 5minlabcoreStrategic or Co-development Partner · 11 February 2022Korean game developer acquired by Krafton for 100% of shares valued at KRW 23.8 billion (initial payment) with up to KRW 53.8 billion total including earn-out based on 2024-2025 performance. Known for 'Smash Legend' and AR/VR technology applications.
• Unknown Worlds EntertainmentflagshipStrategic or Co-development Partner · 29 October 2021US-based studio acquired by Krafton in 2021, developer of Subnautica franchise. Triggered $250 million earnout payout after Subnautica 2 success (4M+ copies). Operates as a Krafton subsidiary.
• Thingsflow Inc.minorStrategic or Co-development Partner · 29 June 2021Acquired by Krafton in 2021; developer of Korean chat platform HelloBot with 4 million users across Korea and Japan. Deal aimed at leveraging AI expertise for new entertainment experiences and audience interaction.
• VCNC (Between app)minorStrategic or Co-development Partner · 14 May 2021Korean dating app 'Between' acquired from VCNC (Socar subsidiary), housed in newly created 'Between Us' subsidiary. Part of diversification strategy into culture and arts sectors ahead of Krafton's IPO.
• Tango GameworkscoreStrategic or Co-development PartnerJapanese game developer acquired by Krafton, developer of Hi-Fi RUSH (directed by John Johanas). Studio operates as Krafton subsidiary.
• Eleventh Hour GamesminorStrategic or Co-development PartnerStudio developing Last Epoch (action RPG), operated as Krafton subsidiary.
• Striking Distance StudioscoreStrategic or Co-development PartnerUS-based studio developing The Callisto Protocol and [REDACTED] (game title redacted).

Scale indicators14 records

Recent moves12 records

Expansion highlights7 records

Direct peers

• NetEase: Major Chinese video game publisher and developer with a comparable diversified portfolio across mobile and PC. Listed as a peer to Krafton in the NVIDIA RTX Spark ecosystem and competes in the same battle royale and survival game categories across Asia.
• miHoYo / HoYoverse: Chinese gaming company behind Genshin Impact, Honkai: Star Rail, and Zenless Zone Zero. Directly comparable to Krafton as a free-to-play mobile-first game publisher with massive global reach, content-update cadence, and live-service monetization.
• Riot Games: Develops Valorant and League of Legends; listed alongside Krafton as a launch partner for NVIDIA RTX Spark native Arm support. Direct tactical FPS competitor to PUBG and similarly invested in AI-driven player experiences via its parent Tencent ecosystem.
• Ubisoft: Major European publisher historically partnered with Krafton as the retail distribution partner for TERA in 2011. Comparable as a multi-studio publisher with broad genre coverage; both companies have pursued studio consolidation and M&A strategies.
• Electronic Arts (EA): Direct battle royale competitor via Apex Legends and the largest Western third-party publisher with comparable diversified studio portfolio. Recently partnered with Krafton in a joint bid (with JetSynthesys, Reliance Jio, and others) for the ICC's official cricket gaming rights.
• Epic Games: Creator of Fortnite (the most direct battle royale competitor to PUBG) and Unreal Engine (used by Krafton's Neon Giant for NO LAW). Operates the Epic Games Store where Krafton distributes titles including Subnautica 2.
• Take-Two Interactive: Major Western publisher behind GTA, Red Dead Redemption, and the Civilization franchise. Comparable as a multi-studio publisher with large premium-priced PC/console titles; competes in the same premium single-player survival space as Krafton's Subnautica franchise.

Broad incumbents

• Tencent Holdings: World's largest gaming company by revenue with investments across battle royale, mobile, and PC gaming globally. Directly comparable to Krafton as a multi-genre publisher with major stakes in Riot Games, Epic Games, Supercell, and Activision Blizzard; competes head-to-head for battle royale mobile share in Asia and is a co-investor with Krafton in The Black Label.
• Activision Blizzard (Microsoft): Owns Call of Duty (the original battle royale competitor to PUBG) and Diablo franchise; acquired by Microsoft in 2023. Direct overlap with Krafton's Callisto Protocol competitor portfolio and comparable scale in first-person shooter and survival gaming.

Emerging players

• NODWIN Gaming / Nazara Technologies: India-focused esports and mobile gaming company; backed by Krafton and preparing for IPO. Most directly comparable as a regional gaming/esports peer operating in Krafton's largest growth market and sharing the BGMI tournament ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/KRAFTONofficial
• Facebookfacebook.com/Krafton.official
• LinkedInlinkedin.com/company/krafton-inc
• Instagraminstagram.com/krafton.today
• Xx.com/krafton_game

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries22 records

Funding overview

Funding rounds7 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A14 records

Investments64 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Krafton