According to COINCU2, South Korean game publisher Neowiz is entering the Web3 gaming arena through its division, IntellaX, and has joined Avalanche Arcad3, a collaborative Web3 gaming education program. Neowiz is the fourth top-100 gaming company by market cap to align with Avalanche, joining East Asian giants like Alibaba, Tencent, and GREE. This partnership aims to boost Neowiz's Web3 gaming expertise and create a thriving Web3 gaming industry.

Neowiz, a top-five game company in South Korea by market value, is known for its 25-year track record of popular titles like "Cats & Soup" and the highly anticipated "Lies of P," a souls-like game inspired by Pinocchio, expected to be a top seller in 2023, with Q2 2023 revenue already reaching $51 million. The collaboration between Neowiz and Avalanche Arcad3 will be officially sealed at Avalanche House Seoul 2023, a one-day conference within Korea Blockchain Week.

A recent Xangle research report highlights that nearly 70% of the top 100 gaming companies are based in Asia, with Korean companies leading the charge in blockchain game development. Avalanche Arcad3's first cohort includes TSM/Blitz, Shrapnel, Merit Circle, and Neowiz. This initiative offers in-depth content, technical support, networking, and more, positioning Neowiz to make a substantial entry into the exciting world of Web3 gaming. As Neowiz and Avalanche Gaming join forces, they aim to lay the foundation for an immersive, high-quality Web3 gaming industry, driven by shared expertise and innovation.