Neowiz Partners with Ava Labs to Propel Web3 Gaming in Asia September 7, 2023 September 7, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 7, 2023 by Kelly Cromley

Neowiz Partners with Ava Labs to Propel Web3 Gaming in Asia

In a significant move, Neowiz, a prominent South Korean video game publisher with a rich 25-year history in the gaming industry, has embarked on a mission to promote Web3 gaming in Asia through its collaboration with Ava Labs. This partnership extends to Neowiz’s subsidiary, Intella X, a key player in the development of Web3 games.

Neowiz has enthusiastically joined forces with the Web3 gaming program known as Avalanche Arcad3. Within this collaboration, Intella X and Neowiz are poised to explore the vast potential of Web3 gaming offered by the Avalanche platform. This strategic alliance is poised to make a substantial impact on the gaming industry, which is already experiencing significant growth in 2023, as evidenced by Neowiz’s impressive second-quarter sales of $51 million USD.

Intella X has taken center stage at Korea Blockchain Week, hosted at Avalanche House Seoul 2023, signifying the company’s deep commitment to Web3 gaming. Ed Chang, the Head of Ava Labs Gaming, is set to engage in strategic discussions with Intella X during a one-day seminar. This partnership is anticipated to drive the advancement of Web3 gaming technology.

Avalanche has been rapidly gaining ground in Asia, particularly in South Korea, with Neowiz’s involvement further underscoring its significance. Neowiz, recognized as one of the top 100 game companies globally, is now a collaborator with Avalanche, sharing this exclusive space with East Asian industry giants such as Alibaba, Tencent, and Gree. It’s noteworthy that over 70% of the top 100 gaming companies worldwide are of Asian origin, according to Xangle. Additionally, the Korean gaming industry holds a dominant position in the development of blockchain-based games, while Japanese companies excel in the realm of virtual reality (VR) gaming.

Gumi, a prominent Japanese media and gaming company, is another notable player in the inaugural Arcad3 group, further validating the growing importance of Web3 gaming in the Asian market. Ed Chang expressed satisfaction in partnering with Neowiz, emphasizing the expansion of their gaming network in South Korea.

The Avalanche Arcad3 initiative offers Neowiz’s subsidiary, Intella X, an invaluable opportunity to collaborate, learn from, and invest alongside renowned Web3 game developers. Intella X’s focus is to gain a comprehensive understanding of Web3 gaming, NFTs, cultural dynamics, infrastructure, and advanced blockchain gaming through its participation in Arcad3.

Avalanche’s expertise in both Web2 and Web3 technologies provides an ideal environment for the exploration of Web3 games within the context of Arcad3’s innovative curriculum. This initiative includes participation from notable entities such as TSM/Blitz, Shrapnel, Merit Circle, Neowiz, and others. The program encompasses a comprehensive study of Ava Labs’ Web3 gaming tokenomics, compliance, and business strategies. It also offers valuable resources such as office hours, technical support, networking opportunities, and more.

Taegeun “Andrew” Bae, Co-CEO of Neowiz, expressed that Intella X and Ava Labs are poised to exchange expertise in Web3 gaming technologies, network infrastructure, and operational strategies. Their shared goal is to deliver high-quality Web3 games to their users, underpinned by a deep understanding of the Web3 market and rigorous investment assessments.

In summary, Neowiz’s strategic partnership with Ava Labs in the realm of Web3 gaming signifies a significant step forward for the gaming industry in Asia. This collaboration not only reflects the dynamism of the Web3 ecosystem but also positions Neowiz and Intella X as key players in driving the adoption of Web3 gaming technologies and principles, ensuring that users receive top-tier gaming experiences in the evolving digital landscape.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.