Take fast:
- Intella X has raised $12 million in a new round of funding backed by Animoca Brands, Polygon, and Magic Eden, among others.
- The Neowiz subsidiary will use the funding to develop its own blockchain gaming platform.
- The new platform will be powered by the Intella X token and will feature a Proof of Contribution (PoC) reward mechanism.
Intella X has announced a $12 million funding round, backed by leading web3 investors including Polygon, Animoca Brands, Magic Eden, Planetarium, Big Brain Holdings, Global Coin Research, Crit Ventures, JoyCity, Pearl Abyss , XL Games and WEMIX.
Intella X is a subsidiary of South Korean games and entertainment giant Neowiz. The company is developing its own blockchain gaming platform powered by the Intella X token.
The platform will also feature a unique reward mechanism based on Proof of Contribution (PoC).
According to Wednesday’s announcement, the PoC mechanism is what sets Intella X apart from other gaming platforms. The PoC is an earning feature that continually rewards contributors to its ecosystem, including game developers and users.
The platform also has a decentralized revenue-sharing protocol that redistributes shares of their earnings back to contributors.
Intella X offers an all-in-one gaming ecosystem that includes its proprietary Web3 wallet, DEX (Decentralized Exchange), NFT Marketplace, Launchpad, and games. The platform aims to accelerate the mass adoption of blockchain games by bridging the gap between Web2 and Web3.
In an exclusive comment on Intella X’s Proof of Contribution rewards model, the Polygon team described it as a mechanism that calculates game developers’ activities both on- and off-chain to come up with a prorated formula that rewards them with Intella X Sign.
On the other hand, users claim DEX and APR rewards based on on-chain data sourced from liquidity pools and staking pools. Users can earn by providing liquidity or stake the Intella X token.
The Intella X platform is scheduled to launch in Q1 2023 on Ethereum’s scaling Layer 2 blockchain Polygon.
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