Last Updated on May 18, 2023
Quick take:
- Neowiz has launched a $10 million accelerator with Polygon Labs.
- The grant program will fund blockchain games on the Layer 2 Ethereum scaling protocol.
- The announcement comes on the back of a $12 million fundraising for its gaming ecosystem Intella X announced in January this year.
Neowiz has collaborated with Polygon Labs to launch a $10 million accelerator program. The South Korean gaming company will use the grant program to finance web3 games built on the Layer 2 Ethereum scaling protocol.
The announcement comes barely three months after Neowiz completed a $12 million funding round for its blockchain gaming ecosystem Intella X. The grant program is part of the company’s strategy of onboarding new games to its ecosystem.
Intella X offers a non-fungible token (NFT) marketplace, a decentralised exchange service and a crypto wallet to its community.
Commenting on the announcement, Jose Ko, CEO of Intella X said the program will not only help nurture a thriving gaming ecosystem but also actively shape the future of Web3 gaming.
“At Intella X, we understand game developers fuel the Web3 gaming revolution. Our $10M gaming initiative grant program is designed to spark their creativity and equip them with crucial resources and support to create groundbreaking gaming experiences,” said Ko.
According to the announcement, the evaluation period, which includes an interview and due diligence by the Intella X Grant Committee will take a few weeks up to a month. Applicants can submit their applications through the Intella X homepage.
The committee has adopted a holistic approach to evaluating the projects and will consider factors such as potential impact, innovation, feasibility, sustainability, and alignment with Intella X’s objectives.
Polygon Labs Vice President and Global Head of Business Development Urvit Goel believes the program will provide game developers on Polygon with much-needed opportunity and means to build more great games, Decrypt reported.
“Our hope is these new games will bolster Web3 gaming adoption and further solidify Polygon’s position as the home of Web3 gaming,” said Goel.
Neowiz’s foray into web3 gaming has seen it form partnerships with some of the leading players in the blockchain space. Its web3 gaming platform Intella X is developed in partnership with MODORI, an investment company focused on blockchain technology. Modori also provides development, consulting, and investment solutions to blockchain companies.
The Korean game publisher’s partnership with Polygon was first announced in August 2022, when it revealed its plans to bring some of its most popular gaming IPs, including ‘Cats & Soup’ and ‘Brave Nine’ to web3 through Intella X.
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