Korean Firm Neowiz to Develop Games on Avalanche Network

Korean Firm Neowiz to Develop Games on Avalanche Network

SEOUL, AVALANCHE HOUSE – In a thrilling development for gaming enthusiasts, renowned Korean game publisher Neowiz announced its intention to develop games on the Avalanche blockchain, leveraging its Web3-focused division, Intella X.

Korea’s fervent enthusiasm for esports and blockchain-based games has seen a surge in recent years. With an expansive gaming culture and immense consumer interest, companies like Neowiz have enjoyed skyrocketing valuations. Among the top-tier gaming entities in Korea, Neowiz ranks within the top five in terms of market capitalization.

With an illustrious history spanning 25 years in the gaming industry, Neowiz has been responsible for crowd-pleasers like “Cats & Soup” and eagerly awaits the launch of “Lies of P.” This forthcoming release, drawing inspiration from the classic tale of Pinocchio, is touted to be one of 2023’s bestsellers. Highlighting the company’s success, Taegeun “Andrew” Bae, co-CEO of Neowiz, reported an impressive revenue of $51 million in the previous year during the Thursday announcement.

Ed Chang, Ava Labs‘ Head of Gaming, expressed his enthusiasm about the collaboration, emphasizing the potential of this partnership. Collaborating with a titan like Neowiz is a monumental step in bolstering our gaming presence in South Korea,” Chang remarked. He further acknowledged the wealth of experience Neowiz brings to Avalanche’s Arcad3 initiative. Their deep-rooted expertise will not only elevate the Arcad3 program but also ensure Neowiz’s seamless foray into the Web3 gaming realm,” added Chang.

For those uninitiated, Avalanche Arcad3 serves as a unique intersection of traditional gaming and the burgeoning crypto sphere. It’s an educational initiative aimed at bridging the gap between conventional gaming projects and the Web3 space.

As the lines between conventional gaming and blockchain-powered platforms blur, partnerships like these pave the way for a new era in the gaming landscape.

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About Maria Morgan

Maria Morgan is a full-time cryptocurrency journalist at Coinography. She is graduate in Political Science and Journalism from London, her writing is centered around cryptocurrency news, regulation and policy-making across the glob.

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