Avalanche House, situated in the fast-paced city of Seoul, recently witnessed a momentous declaration by the acclaimed Korean game publisher, Neowiz. The public company plans on entering the playing field of blockchain, drawing upon its highly successful and thriving Web3 arm, IntellaX to spearhead this project.
In a region dominated by a voracious interest in esports and blockchain games, it’s no unexpected development that Neowiz, among the top five Korean gaming companies according to market capitalization, is making this move. Reinforced by their local popularity due to the gaming cultures it caters to, the 25-year strong Neowiz, seen as the creators behind gaming delights such as Cats & Soup, and currently enthused by the forthcoming Lies of P, has displayed an uncanny ability to cater to their audience’s tastes.
At a recent event, co-CEO of Neowiz, Taegeun “Andrew” Bae, glowed with pride as he shared that the company’s revenue for the previous year hit a high of $51 million. Considering this alongside their ambition to foray into blockchain uniquely situates Neowiz at a fascinating intersection in the gaming industry.
Ed Chang, the head of gaming at Ava Labs, could barely contain his excitement about this collaboration. He expressed that the addition of an accomplished game publisher like Neowiz to Arcad3 will fortify the program. He believes it will give the first Arcad3 cohort enough insight to ensure Neowiz’s smooth transition into Web3 gaming. Avalanche Arcad3, a partnership program specifically designed to introduce traditional gaming enterprises and crypto industry projects to Web3 gaming, ensures this.
As riveting as it is to witness Neowiz’s foray into the blockchain arena, it’s crucial to consider its noteworthy implications. The introduction of traditional gaming companies like Neowiz to dynamic blockchain technologies such as the Avalanche blockchain could prove pivotal in molding the future gaming landscape.
However, this amalgamation presents its challenges. The integration of a traditional business model with new-age technologies is bound to present complications. Further, ensuring the quality of games in this fresh landscape, maintaining a level of enjoyment for users while also introducing them to the functionalities and potentials of blockchain requires careful balance. But only time will tell whether Neowiz can uphold its reputation in this new arena and whether this endeavor will yield prosperous results for the gaming industry as a whole.
Source: Coindesk
