The Polygon Network has announced a strategic partnership with the South Korea-based game developer, Neowiz, to expand blockchain gaming development. Accordingly, the new partnership will further integrate blockchain technology into the gaming ecosystem.
Polygon And Neowiz To Create Intella X
The two parties’ collaboration will lead to the development of a blockchain gaming platform dubbed Intella. According to the statement from Polygon, the latest partnership will see Neowiz bring its famous gaming intellectual property (IP) to the Web3 ecosystem.
Moreover, this will be the first user ownership case in Web3, as Intella X will ensure that generated revenues are distributed equally to the platform’s contributors.
Intella X will have multiple ways of ensuring users contribute and earn. For example, users can stake or provide liquidity on the decentralized exchange (DEX) platform, where they can make yields from the native IX Token on Intella X.
Individual games are available for users to play to earn IX, which they can swap on the Intella exchange. In addition, any project built and released on the platform will receive compensation in IX Token and will also have a share in the revenue from in-app purchases and others.
The reward system on Intella X is known as “Develop and Earn.” The in-house algorithm utilizes both on-chain and off-chain metrics to determine each developer’s contribution rate.
As a result, developers need not worry about how they can earn rewards but focus on providing the best on the platform.
The game will include some popular casino games like “House of Poker” and “House of Slots” alongside others. Meanwhile, the iconic “Cat & Soup,” “Brave Nine,” and “Crypto Golf Impact” will also be available as part of the Web3 gaming initiative. In addition, other popular Blockchain games from Neowiz’s famous IP will also debut in 2023.
Furthermore, Intella X will also launch its proprietary wallet, IX Wallet. Users can use the wallet for in-game purchases, which is compatible with other DeFi applications.
Promoting Blockchain Games Through Polygon
The latest partnership adds to the growing influence of the Polygon Network on Web3 gaming projects. The network has had previous collaborations with Animoca, Unisoft, Atari, Wildcard, and others.
On August 4, the Ethereum-based platform inked a deal with Epic League after the gaming studio’s recent valuation, which saw its worth spike to $100 million. The partnership with Epic League will introduce some of its iconic games to the Web3 ecosystem.
Another partnership is with Game Space, which Polygon aims to leverage to bring to the Web3 environment in an unprecedented move.
Despite the seeming drive of Polygon to expand blockchain gaming, it has not been without some challenges. For example, Dragoman’s newly launched Web3 game project suffered significant setbacks after a rug pull led to a $3.5 million loss for the network.
Blockchain games are beginning to compete with the mainstream following the explosion of the Web3 ecosystem. As a result, the industry generated close to $200 billion in revenue last year.