Korean game developer Neowiz to create games on the Avalanche blockchain
Neowiz, a publicly traded Korean game publisher, has announced that it will be building games on the Avalanche blockchain through its Web3 division, IntellaX. This move comes as Avalanche continues to attract numerous blockchain projects, including AllianceBlock’s Arkefi.
Neowiz, being one of the top five gaming companies in Korea by market value, is capitalizing on the growing demand for esports and blockchain games in the country. With a large fan base and significant consumer interest, Neowiz’s decision to develop games on the Avalanche blockchain is expected to further boost its valuation.
Neowiz’s games on Avalanche
Neowiz has a long history of successful game releases, such as Cats & Soup. One of its highly anticipated upcoming games is Lies of P, a Pinocchio-inspired souls-like game that is projected to be a top seller in 2023. During the ceremony, Taegeun “Andrew” Bae, the co-CEO of Neowiz, revealed that the company generated $51 million in revenue in the previous year.
Neowiz aims to harness the power of Avalanche Arcad3 for its upcoming games by having its Web3 division, 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 enthusiasm, 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.” Chang also highlighted the significance of Neowiz joining the Arcad3 program, stating that their expertise will allow them to make a successful entry into Web3 gaming.
Editor Notes: Embracing the Potential of Web3 Gaming
The announcement of Neowiz’s plan to build games on the Avalanche blockchain marks another significant milestone in the growth of Web3 gaming. With the increasing interest and demand for blockchain-based gaming experiences, it is no surprise that established game publishers like Neowiz are exploring this space.
By leveraging the capabilities of the Avalanche blockchain and participating in the Arcad3 program, Neowiz has the opportunity to tap into the potential of Web3 gaming and cater to the evolving preferences of gamers. This move not only showcases Neowiz’s innovative approach but also strengthens Avalanche’s position as a leading platform for blockchain-based gaming.
As the gaming industry continues to embrace blockchain technology, it opens up exciting possibilities for developers, players, and the overall gaming ecosystem. The integration of blockchain into gaming offers benefits like decentralized ownership of in-game assets, enhanced security, and new revenue streams.
Furthermore, Neowiz’s entry into Web3 gaming through Avalanche sends a positive signal to other game developers, encouraging them to explore the potential and benefits of blockchain technology. This collaboration between Neowiz and Avalanche sets the stage for more innovative and immersive gaming experiences in the future.
In summary, Neowiz’s decision to create games on the Avalanche blockchain demonstrates the growing adoption of blockchain technology in the gaming industry. With its established reputation and expertise, Neowiz is poised to make a significant impact in the Web3 gaming space. It is an exciting development that showcases the continued evolution of gaming and the potential for blockchain to revolutionize the gaming experience.
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