Polygon-backed web3 gaming platform Intella X raises $12 million ahead of Q1 launch

Quick Take

  • Intella X raised $12 million from investors that include Polygon, Animoca Brands and Magic Eden.
  • The platform is the product of a partnership between South Korean gaming company Neowiz and Polygon.
  • It’s set to launch later this quarter.

Web3 gaming platform Intella X raised $12 million ahead of an upcoming launch on Polygon.

Polygon, Animoca Brands, Magic Eden, Planetarium, Big Brain Holdings, Crit Ventures, JoyCity, Pearl Abyss, XL Games, Wemix and Global Coin Research were among the investors.

Intella X was developed by South Korean gaming firm Neowiz in partnership with Polygon. It describes itself as a next-generation gaming platform aiming to remove high entry barriers and improve user experience in web3 through features such as streamlined wallet creation and meta transactions.

The platform will reward contributors to its ecosystem, including game developers and users, through its native token and the redistribution of shares of its revenue back to the contributors through its decentralized revenue distribution protocol.

Set to go live later in the first quarter, the rollout will also include Intella X’s proprietary web3 wallet, decentralized exchange, NFT marketplace, launchpad and some games.

Its website shows several upcoming games on its roster, including an MMO, a poker game and a slots game. It also has several projects featuring the IP from Cats and Soup, a popular mobile game.

Neowiz announced last year that it was teaming up to build the platform with Polygon.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.