South Korean game publisher Neowiz is set to support the next generation of Web3 games on Ethereum’s scaling network, Polygon, by launching a $10 million gaming accelerator through its cryptocurrency subsidiary, Intella X. The Intella X ecosystem, which features a crypto wallet, decentralized exchange, and NFT marketplace, was established in collaboration with Polygon Labs to bring Web3 games into the ecosystem.
Neowiz previously raised $12 million for Intella X from investors such as Polygon Labs, prominent metaverse investor Animoca Brands, multi-chain NFT marketplace Magic Eden, and WeMix. Urvit Goel, Polygon Labs Vice President and Global Head of Business Development, told Decrypt, “Intella X’s grant program will provide game developers much-needed opportunity and means for more great games to be built in the Polygon ecosystem. Our hope is these new games will bolster Web3 gaming adoption and further solidify Polygon’s position as the home of Web3 gaming.”
The grant application process entails a few weeks to a month waiting period, followed by an interview and due diligence for selected applicants. The accelerator will provide varying grant amounts depending on the project’s requirements.
Established in 1997, Neowiz has developed an extensive range of games, including the DJMax series, Crossfire, Brave Nine, Sanabi, Lies of P, and Tapsonic. Intella X is currently working on several Web3 titles, with two Web3 versions of the popular mobile game Cats & Soup under development, alongside RPG Brave Nine and shooter A.V.A. The platform is also hosting the Web3 spinoff of the mobile MMORPG EOS Red, which will be renamed EOS Gold.
Neowiz’s foray into Web3 gaming through Intella X coincides with other major Asian publishers’ exploration of the crypto market, including Square Enix, Nexon, Krafton, NCSoft, Netmarble, and Com2Us. This trend demonstrates the increasing interest in Web3 gaming among Eastern publishers, while their Western counterparts have been slower to adopt the technology.