NEOWIZ raised $12m to develop Intella X, a blockchain gaming ecosystem, with Polygon. Now, Intella X is launching its own $10m fund to empower the future of Web3 gaming.
NEOWIZ is a South Korean games publisher and a mightily successful one at that. NEOWIZ Games is the studio that developed and then published the popular Asian MMO, Bless Online, a dreadfully underrated game in the West. (Incidentally, Bless Unleashed, the successor of Bless Online, is set to become a Play-to-Earn title with WeMade.) However, NEOWIZ’s direct involvement in Web3 came when the company raised $12m in collaboration with Polygon to launch its own Web3 gaming platform, Intella X.
What Is Intella X?
Intella X is a multifaceted Web3 gaming platform by NEOWIZ and Polygon. Users can earn $IX token by playing or even building games on the platform, as well as traditional passive methods of staking or providing liquidity. Intella X will also redistribute a portion of all generated revenue back into the ecosystem. The platform has its own native IX Wallet which is optimized for game services.
As you might imagine, NEOWIZ is looking to bring some of its gaming IPs over to Intella X, including Cats & Soup and Brave Nine, with new games launching later in the year. Intella X is a more fleshed-out ecosystem than I can succinctly unpack, so I recommend reading the About Us page here.
Intella X $10m Gaming Initiative Grant Program
Intella X’s $10m gaming accelerator grant program is open to those interested in building games on Polygon and inducting them into the Intella X ecosystem. There is no minimum or maximum grant amount and it is first come, first served, so if you’re incubating a $10m idea, you’ll need to get moving.
— Polygon onchain (@polygon_onchain) May 3, 2023
The team is looking for innovation within gaming and high-quality experiences in return for financial aid and access to resources. Here is a breakdown of the evaluation criteria:
Potential Impact: This refers to the potential positive effects that the Web3 game could have on Intella X and in Web3 in general. It could include factors such as increased financial inclusion and or innovative new gameplay experiences.
Innovation: This refers to the degree to which the Web3 game is pushing the boundaries of what is currently possible in Web3 gaming. It could include innovative use of blockchain technology, new economic models, or novel gameplay mechanics.
Feasibility: This refers to the practicality and technical feasibility of developing and operating the Web3 game. It could include factors such as scalability, accessibility, or the technical skills required to build the game.
Sustainability: This refers to the long-term viability of the Web3 game, including factors such as economic sustainability, community governance, and environmental sustainability.
Alignment: This refers to the degree to which the Web3 game aligns with the values and goals of the Intella X ecosystem.
Successful projects will receive the funds in either digital assets or fiat currency and will hear back within 4 weeks of applying.
It’s great to see more well-established publishers engaging with Web3, particularly when it involves fostering the growth of blockchain gaming as a whole. I can’t help but notice that it is yet another Asian organization behind it too, playing into the narrative I have written on several times, prompted by a recent DappRadar report.