Blockchain

Polygon’s New Web3 Gaming Platform Takes “Develop and Earn” Approach

Intella X is designed to distribute the shares of all the platform’s generated revenue back to developers and users.

Blockchain

Polygon’s New Web3 Gaming Platform Takes “Develop and Earn” Approach

Intella X is designed to distribute the shares of all the platform’s generated revenue back to developers and users.

Polygon announced its latest partnership on Tuesday, August 9, with the popular South Korean video game developer and online publishing giant, Neowiz Corporation, to launch a Web3 gaming platform – Intella X – that is specifically designed to distribute the shares of all generated revenue back to contributors.

Intella X will allow for some of Neowiz’s popular gaming IPs, including “Cats & Soup” and “Brave Nine” to come into Web3 for the very first time. Upon its initial launch, the gaming platform will feature two casino games – “House of Poker” and “House of Slots.”

Indeed, Web3 has already played host to numerous play-to-earn (P2E) gaming platforms like Axie Infinity, Gods Unchained, Decentraland, and The Sandbox – yet, the conversations surrounding scalability and driving mass adoption remain to be a highly contested debate.

A recent DappRadar and Blockchain Game Alliance report revealed that the blockchain gaming industry increased by 2,000% this past year. Further research conducted by the Entertainment Software Association also showed that over 66% of Americans play video games weekly.

Right now, the biggest conversations Web3 is witnessing revolve heavily around “user ownership” and how that ownership can be allocated in such a way that everyone involved in a given ecosystem is being recognized for their contributions.

Unlike other contribution models currently being utilized throughout the market, Intella X’s Distribution Revenue Model allows for the platform to connect its developers and users together.

The idea behind its “Develop and Earn” system enables Intella X to reward participants with various digital assets – governance and utility tokens, fiat-pegged stablecoins, and the platform’s native IX Token.

Through the system’s algorithm, Intella X is able to consider both on-chain and off-chain data to determine the contribution rate for each developer’s game – allowing developers to focus on their tasks, without fear of missing out on other rewards opportunities.

Essentially, any DApp that is built on Intella X can then receive a portion of the entire platform’s revenues and fees – based on that individual DApp’s performance.

Users to the gaming platform can also earn tokens through gaming, staking crypto funds, and/or offering liquidity in the decentralized exchange (DEX) and earning yield from the platform’s IX Token.

While pushing its Distribution Revenue Model, Intella X also plans to continue its expansion of its IP by bringing more of its games into the ecosystem, as well as providing “IX Wallet” – a proprietary wallet that it says will be compatible with other DeFi apps, NFT marketplaces, and other bridges/DEXes.

Polygon’s platform has been the subject of recent conversations following Disney’s announcement that Polygon was elected to join its Disney Accelerator.

Polygon Studios, which serves as the home to all of the gaming, NFT, and metaverse projects on Polygon’s protocol, recently teamed up with Nothing, the creator of Phone (1), to extend Web3 access to mobile users.

In other Web3 news, Non-Fungible Films brings National Lampoon into Web3.

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