Polygon, Neowiz tie-in to launch a new Web3 gaming platform

Polygon is working with gaming publisher Neowiz to launch a new Web 3 gaming platform called Intella X, supported by its native IX token.

Neowiz is a multi-platform developer based in 1997 and is headquartered in South Korea. Its lineup includes a wide range of indie AAA titles, such as the rhythm game and 2 D platformer Skul: The Hero Slayer.

The tie-in will see popular Neowiz titles, including Cats Soup and Brave Nine, ported over to the new platform and given a Web 3 twist.

Polygon explained that users of the Intella X platform will have ownership rights and the chance to receive a cut of the revenues. There are several ways to be a contributor and generate earnings. To earn IX yield, token holders can stake or provide liquidity via the proprietary DEX. The game will generate IX token, with further opportunities to make IX by swapping unique in-game token via the exchange.

Game developers who are building and publishing on Intella X also get to participate under Develop and Earn. Revenues generated via in-app purchases and relevant fees will also be paid in IX, and will be compensated in the native token.

The in-house IX Wallet is optimized for game services but will be compatible with any DeFi application, including the DEXes, Bridges, NFT Launchpads, and NFT Marketplaces.

In July, the data for GameFi performance saw a fall in user activity. The total number of users decreased by 21% month-on-month. Transaction activity was down 55% month-on-month and 737% year-on-year.

Venture capitalists are not concerned with the drop-off, as VC investment was up 17% compared to June and up 126% year-on-year.

Polygon said that working with Neowiz is another step towards becoming the leading Web 3 gaming platform.