Neowiz, a veteran in the gaming industry with a 25-year legacy of creating captivating titles such as “Cats & Soup”, has taken a bold step into the world of Web3 gaming. In a move that underscores their commitment to innovation, Avalanche, a driving catalyst behind the transformation of the Web3 gaming landscape, has proudly marked a significant milestone with Neowiz’s strategic participation in the Avalanche Arcad3 initiative, as announced in a recent tweet.
Avalanche took to Twitter to officially announce the groundbreaking development in the Web3 space:
Another powerhouse enters the Arcad3 🕹️
— Avalanche 🔺 (@avax) September 7, 2023
South Korean gaming company NEOWIZ (@neowizglobal), along with its Web3 publishing arm, Intella X (@TeamIntella), has joined Avalanche Arcad3!
Here's how Arcad3 will help this top-100 gaming company build in Web3⬇️https://t.co/puMcrNHtmP
One of Neowiz’s most eagerly anticipated releases, “Lies of P”, a soulslike game inspired by the classic tale of Pinocchio, is poised to become a chart-topper in 2023. The company also reported impressive Q2 2023 revenues of $51 million, cementing its reputation as a gaming industry heavyweight.
The partnership between Neowiz and Avalanche Arcad3 would be formalized during the upcoming Avalanche House Seoul 2023 conference, a one-day event within Korea Blockchain Week. At this event, Ed Chang, Head of Gaming at Ava Labs, would engage in a strategic discussion with Neowiz’s Web3 arm, Intella X, setting the stage for a dynamic collaboration.
This alliance aligns with Avalanche’s growing momentum in Asia, particularly in the Korean and gaming markets. Neowiz joins the ranks of other top-100 gaming giants, including Alibaba, Tencent, and GREE, who have all embraced Avalanche. According to Xangle research, nearly 70% of the top 100 gaming companies are based in Asia, with Korean firms at the forefront of blockchain game development.
Ed Chang expressed his excitement about the collaboration:
We couldn’t be more excited to be collaborating with Neowiz and continuing to expand our robust gaming network in South Korea. Having such an experienced game publisher join Arcad3 will strengthen the whole program.
Intella X, Neowiz’s Web3 arm, sees Avalanche Arcad3 as a unique opportunity to learn, collaborate, and invest alongside top Web3 game developers. The Arcad3 residency would empower Intella X with expertise in critical Web3 gaming domains, including NFTs, culture, infrastructure, and innovative blockchain gaming strategies.
Avalanche Arcad3, a pioneering Web3 gaming education program for industry leaders from both Web2 and Web3 backgrounds, features an impressive first cohort, including TSM/Blitz, Shrapnel, Merit Circle, Neowiz, and more. Participants benefit from in-depth content releases, office hours, technical support, and networking opportunities Ava Labs provides.
Avalanche’s recent price in the cryptocurrency arena stood at $9.96, down 3.77% from $10.81 the previous week. However, within the past 24 hours, AVAX has experienced a 0.73% increase. While a slight bearish sentiment looms in the crypto market, the long-term outlook for Avalanche remains bullish.
