Korean recreation writer Neowiz introduced its initiative to construct blockchain video games by 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
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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 well-liked releases equivalent to “Cats & Soup” and the forthcoming “Lies of P“, which pulls inspiration from the story of Pinocchio, is eagerly awaited by fanatics and anticipated to be an enormous vendor in 2023. Taegeun “Andrew” Bae, co-CEO of Neowiz, spotlighted the corporate’s robust monetary efficiency at a latest occasion, noting a considerable income of $51 million final 12 months.
Furthermore, Korea boasts a sturdy urge for food for esports and blockchain video games, with a large fanbase that fuels the expansion and valuation of native corporations, together with Neowiz. Acknowledged as one of many high 5 Korean gaming entities by market capitalization, Neowiz’s trajectory demonstrates the potential for additional development and innovation within the sector.
To additional the collaboration, Ava Labs’ head of gaming, Ed Chang will have interaction in strategic discussions with IntellaX in the course of the Korea Blockchain Week hosted at Avalanche Home Seoul in 2023. This partnership harbors the potential to considerably improve Web3 gaming know-how, 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, at present ranked fourth among the many high 100 gaming corporations globally, performs an important function on this growth. It’s price mentioning that this unique record additionally consists of 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 recreation designers. Eager to develop 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 neighborhood. As we watch these developments unfold, the partnership may 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 know-how in reshaping the gaming business.
A outstanding topic of dialog was the possession of in-game belongings. Not like conventional gaming settings the place gamers don’t have real possession of the gathered or purchased objects housed on the developer’s servers and might be revoked at any second, Web3 gaming gives a unique strategy. On this new format, gamers have the power to personal their in-game belongings actually, 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 doubtlessly hugel change within the gaming sector, empowering gamers with management and possession over their in-game belongings.