Neowiz Launches $10M Game Accelerator on Polygon
SEOUL, KR – South Korean game publisher Neowiz has launched a $10 million grant program through its subsidiary, Intella X, to fund a web3 gaming accelerator on Polygon. The accelerator will fund game developers and bring more web3 games into the Neowiz ecosystem.
Neowiz and Intella X
Neowiz was founded in 1997 and has released popular gaming titles such as the DJMax series, Crossfire, Brave Nine, and Tapsonic. Recently, Neowiz has been exploring the possibilities of web3 gaming and has taken significant steps toward building a robust web3 gaming ecosystem through its subsidiary, Intella X.
Intella X’s ecosystem on the Polygon network offers a crypto wallet, decentralized exchange, and NFT marketplace. Polygon’s blog states, “Intella X is being built on top of Polygon’s network to leverage cheaper and faster transactions while maintaining Ethereum’s robust security and decentralization.”
Gaming Accelerator Fund
In early 2021, Neowiz raised $12 million for Intella X from investors like Polygon Labs, Animoca Brands, and Magic Eden. With this funding, Intella X has launched the gaming accelerator fund valued at $10 million in partnership with Polygon Labs.
Prospective grant recipients can expect to wait a few weeks to a month for a response, and those selected move forward in the grant process to an interview and due diligence period. The amount given to a recipient will vary depending on the project, and there is no typical grant amount for the accelerator.
The subsidiary is already developing several web3 games, including two web3 versions of the popular mobile game Cats & Soup, the role-playing game (RPG) Brave Nine, and the first-person shooter A.V.A.
Develop & Earn System
Intella X will offer multiple ways for users to contribute and earn. Users can start by staking or providing liquidity in the proprietary decentralized exchange (DEX), earning the platform’s native token, IX Token.
Using their self-styled “Develop and Earn” system, users can earn IX by playing individual games and swapping NFTs offered for IX through the exchange. Developers who build and release games on Intella X will be compensated in IX Token with a revenue cut, including in-app purchases, relevant fees, and more.
A native algorithm considers both on-chain and off-chain data to determine the contribution rate for each developer’s game. This allows developers to focus on what they do best without worrying about other factors to earn their shares of the month distributed rewards.
Future plans
Building Intella X on top of Polygon’s network allows the platform to leverage cheaper and faster transactions while maintaining Ethereum’s robust security and decentralization. Intella X is being created to expand its services to other networks at some point in the future.
Polygon is currently partnered with other game developers and publishers, such as Atari, and Animoca, making Intella X another feather in the network’s cap. Polygon actively cooperates in various fields, including the latest technology support, network infrastructure, and global marketing.
The launch of Intella X represents an exciting new frontier in web3 gaming, providing a more equitable distribution of revenue to contributors while offering players new ways to earn rewards. The partnership between Neowiz and Polygon promises to bring some significant gaming IPs to the forefront of the web3 ecosystem.
