Korean sport writer Neowiz introduced its initiative to construct blockchain video games by means of its Web3 division, IntellaX. Having already loved success within the gaming business, the well-established firm is extending its affect to discover the promising avenues of the Avalanche blockchain.
Neowiz’s Storied Historical past and Blockchain Gaming
With a historical past of over 25 years, Neowiz has carved a reputation for itself within the gaming sector, notably in Korea. The corporate, famend for fashionable releases equivalent to “Cats & Soup” and the forthcoming “Lies of P“, which pulls inspiration from the story of Pinocchio, is eagerly awaited by lovers and anticipated to be a giant vendor in 2023. Taegeun “Andrew” Bae, co-CEO of Neowiz, spotlighted the corporate’s robust monetary efficiency at a current occasion, noting a considerable income of $51 million final yr.
Furthermore, Korea boasts a strong urge for food for esports and blockchain video games, with a large fanbase that fuels the expansion and valuation of native firms, together with Neowiz. Acknowledged as one of many high 5 Korean gaming entities by market capitalization, Neowiz’s trajectory demonstrates the potential for additional progress and innovation within the sector.
To additional the collaboration, Ava Labs’ head of gaming, Ed Chang will interact in strategic discussions with IntellaX through the Korea Blockchain Week hosted at Avalanche Home Seoul in 2023. This partnership harbors the potential to considerably improve Web3 gaming expertise, promising a promising future for the business.
Avalanche Arcad3 and The Asian Gaming Panorama
Avalanche’s affect is noticeably rising within the Asian market, notably inside South Korea’s gaming sphere. Neowiz, presently ranked fourth among the many high 100 gaming firms globally, performs an important function on this enlargement. It’s value mentioning that this unique record additionally contains East Asian behemoths equivalent to Alibaba, Tencent, and Gree, showcasing the dominant presence of Asian companies within the gaming business.
Moreover, the Avalanche Arcad3 program presents a golden alternative for Neowiz’s subsidiary, IntellaX, to collaborate with esteemed Web3 sport designers. Eager to increase its data base, IntellaX goals to delve into the intricacies of Web3 gaming, together with NFTs, tradition, infrastructure, and superior blockchain gaming strategies.
This collaboration is one other sign of the shift within the gaming business, with promising prospects for Neowiz and the broader gaming group. As we watch these developments unfold, the partnership might reshape the way forward for gaming in Korea and even the worldwide gaming panorama.
Korea Blockchain Week
On the Korea Blockchain Week 2023, Web3 gaming emerged as a significant theme. The gathering has hosted a number of panels and dialogues specializing in the transformative potential of blockchain expertise in reshaping the gaming business.
A distinguished topic of dialog was the possession of in-game property. Not like conventional gaming settings the place gamers don’t have real possession of the collected or purchased objects housed on the developer’s servers and might be revoked at any second, Web3 gaming affords a special method. On this new format, gamers have the power to personal their in-game property really, represented as NFTs, facilitating the choices to commerce, promote, or mortgage them to fellow gamers. This shift in direction of Web3 gaming, subsequently, heralds a probably hugel change within the gaming sector, empowering gamers with management and possession over their in-game property.