Korean Game Publisher Neowiz and Ava Labs Form Partnership
Neowiz has joined Avalanche Arcad3, expanding its initial cohort of gaming entities pushing into Web3. Additionally, the prominent Korean game publisher’s Web3 arm, Intella X, will be exploring Web3 gaming possibilities on Avalanche.
Neowiz has a 25-year track record of fun releases, like Cats & Soup, and is behind the highly anticipated Lies of P, a soulslike game that is inspired by Pinocchio and expected to be a top seller of 2023. In Q2 of 2023, Neowiz notched $51M USD in revenue.
The partnership will be sealed this week as Intella X takes the main stage for a strategy chat with Ed Chang, Head of Gaming at Ava Labs, at Avalanche House Seoul 2023 – Avalanche’s one-day conference within Korea Blockchain Week.
The alliance comes at a time of momentum for Avalanche in Asia, particularly in the Korean and gaming markets. Notably, Neowiz is the fourth of the top-100 gaming companies by market cap to align with Avalanche. The other three, Alibaba, Tencent, and GREE, are also in East Asia. A Xangle research report found that nearly 70% of the top-100 gaming companies are based in Asia, and that Korean companies are “at the forefront of developing blockchain games.”
Another regional gaming leader, the Japanese media powerhouse Gumi, is participating in the first Arcad3 cohort.
“We couldn’t be more excited to be collaborating with Neowiz and continuing to expand our robust gaming network in South Korea,” said Ed Chang. “Having such an experienced game publisher join Arcad3 will strengthen the whole program, and the expertise of the first Arcad3 cohort will position Neowiz to make the best possible entry into Web3 gaming.”
Neowiz’s Intella X views Avalanche Arcad3 as “an unparalleled opportunity to collaborate, learn, and invest alongside top Web3 game developers.” The Arcad3 residency will help Intella X level up its knowledge across key Web3 gaming areas, including NFTs, culture, infrastructure, and innovative blockchain gaming strategies.
Avalanche Arcad3 is a collaborative Web3 gaming education program designed for Web2 and Web3 industry leaders. The first cohort consists of TSM/Blitz, Shrapnel, Merit Circle, Newoiz, and more. The program features in-depth content releases by Ava Labs (on topics like Web3 game tokenomics, compliance, and business models), office hours, technical support, networking opportunities, and more.
Taegeun "Andrew" Bae, Co-CEO of NEOWIZ stated “With this partnership, Intella X and Ava Labs will actively exchange their expertise in Web3 game technology, network, and operational know-hows.' He added, "Through insights into the Web3 market and comprehensive investment reviews, we aim to deliver high quality Web3 games to our users"
In a collaborative effort leveraging the combined knowledge, technical expertise, and creative insights of both entities, Neowiz and Avalanche Gaming are determined to lay the foundation for an immersive, high-quality Web3 gaming industry.
Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs.
NEOWIZ is a public company, with its headquarters located in South Korea, that is known for being a global game publisher and a developer. As a renowned publisher and developer since South Korea’s early days of PC gaming, NEOWIZ has operated a gaming web portal for 20 years. NEOWIZ developed and co-developed games of diverse genres including social casino, MMORPG, sports, FPS, and more. NEOWIZ is a strong player in the console market as well, and has successfully published an indie million-seller Skul: The Hero Slayer. Recently, Lies of P, developed by NEOWIZ, won three awards at 2022 Gamescom as the world’s most anticipated and wanted next-generation console title. NEOWIZ is the genesis contributor for Intella X, bringing its experience and expertise to the platform.
About Intella X
Intella X is the next generation of Web3 gaming platforms committed to setting a new benchmark for game platform providers. Through proprietary platform services and a unique service protocol that rewards both game developers and gamers, Intella X is redefining blockchain gaming and driving the widespread adoption of Web3. With a vision to empower gamers and create a thriving ecosystem, Intella X is at the forefront of the Web3 revolution.