Share this article
Publicly Traded Korean Firm Neowiz To Build Games on Avalanche Network
Intella X, Neowiz’s Web3 arm, has joined Avalanche Arcad3 to build blockchain games in the crazed market.
Updated Sep 7, 2023, 6:22 a.m. Published Sep 7, 2023, 6:22 a.m.
AVALANCHE HOUSE, SEOUL - Publicly traded Korean game publisher Neowiz said Thursday it plans to build games on the Avalanche blockchain via its Web3 arm IntellaX.
Korea has an appetite for esports and blockchain games, with a large fanbase for various gaming cultures and huge consumer interest. That has helped propel the valuation of local companies such as Neowiz, one of the top five Korean gaming companies by market capitalization.
STORY CONTINUES BELOW
Neowiz has a 25-year track record of fun releases, like Cats & Soup, and is behind the highly anticipated Lies of P, a souls-like game inspired by Pinocchio and expected to be a top seller of 2023. The company notched $51 million in revenue last year, Taegeun "Andrew" Bae, co-CEO of Neowiz, said at the Thursday event.
“We couldn’t be more excited to be collaborating with Neowiz and continuing to expand our robust gaming network in South Korea,” said Ava Labs' head of gaming, Ed Chang, at the event.
“Having such an experienced game publisher join Arcad3 will strengthen the whole program, and the expertise of the first Arcad3 cohort will position Neowiz to make the best possible entry into Web3 gaming," Chang added.
Avalanche Arcad3 is a collaborative Web3 gaming education program designed for traditional and crypto industry projects.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
The Protocol: Stripe’s Tempo Testnet Goes Live
Also: ZKSync Lite to Sunset, Blockstream App Update, Axelar’s AgentFlux
What to know:
This article is featured in the latest issue of The Protocol, our weekly newsletter exploring the tech behind crypto, one block at a time. Sign up here to get it in your inbox every Wednesday.
Top Stories
