Neowiz, a publicly traded Korean game publisher, has announced its collaboration with the Avalanche blockchain to develop games through its Web3 division called IntellaX. This partnership comes as the Avalanche blockchain attracts a growing number of blockchain projects, including AllianceBlock’s Arkefi.

Neowiz Expands into Web3 Gaming

With a large and passionate fan base for different gaming cultures, Korea has shown a strong appetite for esports and blockchain games. Neowiz, one of the top five Korean gaming companies in terms of market value, has witnessed an increase in its valuation as a result of this growing interest.

Neowiz, known for its entertaining product releases such as Cats & Soup, is also the developer of the highly anticipated game Lies of P, a Pinocchio-inspired souls-like game expected to be a top seller in 2023. During the announcement, Taegeun “Andrew” Bae, the co-CEO of Neowiz, revealed that the company generated $51 million in revenue in the previous year.

Collaboration with Avalanche Arcad3

Neowiz intends to harness the power of Avalanche Arcad3 for its upcoming games by having IntellaX build games on the Avalanche blockchain. Avalanche Arcad3 is a collaborative Web3 gaming education program designed for both traditional and cryptocurrency sector projects.

Expressing his excitement, Ed Chang, the head of gaming at Ava Labs, stated, “We could not be more excited to be collaborating with Neowiz and continuing to expand our robust gaming network in South Korea.” He also emphasized that Neowiz joining the Arcad3 program would strengthen the initiative and position Neowiz to make a successful entry into Web3 gaming.

Summary

Korean game publisher Neowiz, through its Web3 division IntellaX, is partnering with the Avalanche blockchain to build games. With its valuations rising due to the growing interest in esports and blockchain games in Korea, Neowiz aims to leverage the power of Avalanche Arcad3 for its upcoming releases. The collaboration between Neowiz and Avalanche is expected to further strengthen the gaming network in South Korea and facilitate Neowiz’s entry into the Web3 gaming space.

FAQs

What is Neowiz?

Neowiz is a publicly traded Korean game publisher and one of the top five gaming companies in Korea in terms of market value.

What is IntellaX?

IntellaX is the Web3 division of Neowiz, responsible for building games on blockchain technology.

What is Avalanche Arcad3?

Avalanche Arcad3 is a collaborative Web3 gaming education program created for both traditional and cryptocurrency sector projects. It aims to enhance the development and adoption of blockchain-based games.