Fintech
Royal Wins Initiates NFT Skill-Based Game Development Demand for NFT Trading and Blockchain Games Expected to Continue Growing in 2022
Toronto, Ontario–(Newsfile Corp. – March 24, 2022) – Royal Wins Corporation (CSE: SKLL) (OTCQB: RYWCF) (“Royal Wins” or the “Company“), an innovative hyper-casual digital games studio with world’s first fully licensed real-money pure-skill gaming platform, announces that game development for Non-Fungible Token (“NFT”) and Blockchain segments has been added as one of the main diversification and growth strategies for 2022, alongside continuous improvement of existing gaming platforms, geographic expansion, and penetration into new gaming segments such as mobile tournaments, esports, and games of chance.
The Company has formed a team specifically dedicated to building products outside core product development, which will collaborate with a leading blockchain games developer Labrys (see Press Release dated October 19, 2021) to ramp up strategy and production for the launch of Royal Wins’ first blockchain gaming product on HTML5.
Royal Wins’ first ever blockchain NFT game, planned to be released in the second half of 2022, will be designed to target Generation Z and to accommodate growing interest from players across Asia that have largely fuelled the growth and popularity of NFT sales and blockchain games to date.
Royal Wins COO and Director Robert Fong commented: “NFTs are exploding in popularity with trading volumes eclipsing their own records quarter over quarter. Play-to-earn gaming models which allow gamers to invest into NFTs are in high demand. This model fits very well with our overall games strategy, so we have decided to fast-track this side of our business. Blockchain gaming will offer us the ability to properly cultivate our Asian markets with a model that appeals best to them, while also servicing the United States with a diverse suite of gaming platforms we currently offer. Even though the United States is now second in the world in terms of overall NFT traffic, the country still saw over 175,000 new users in the NFT ecosystem so far in 2022, a growth of around 38% versus November 2021. This comes in part from the growing interest among younger audiences as Millennials and Generation Z start to account for a higher percentage of traffic.”
Blockchain Gaming and NFT Market in 2021
Non-fungible token trading and blockchain games have proved to be less sensitive to global cryptocurrency trends in 2021. According to reports from DappRadar, NFT transactions continued to increase amid declining crypto prices and the number of Unique Active Wallets (“UAW”) connected to Ethereum NFT DApps grew by 43% since Q3 2021.
DappRadar also reports that the money generated by NFT trading went from $10.7 billion in Q3 2021 to $11.9 billion by the end of Q4 2021, and blockchain games continue to be in high demand, representing 52% of the industry’s usage. Expanding metaverse developments alongside the growing success of the play-to-earn model have also strengthened the case for blockchain games to continue growing throughout 2022.
The growing interest in NFTs and blockchain gaming during this market downturn can partially be attributed to the Chinese audience, stimulated by the recent announcements from the government that the country will soon begin developing its own non-crypto NFT industry.
China is now considered the most extensive NFT user base with a 166% increase in the number of registered users so far in 2022 versus November 2021, whereas the United States dominated in terms of traffic in 2021.
About Royal Wins Corporation
Royal Wins is an innovative digital games studio pioneering pure-skill gaming with real cash prizes available on mobile casual games. Established in 2014, we design, develop, and operate real-cash prize skill games to disrupt and dominate the online gaming space, so that all players of legal age can play and win life-changing jackpots and prizes based on their skill as opposed to pure chance and odds. Our primary innovation and intellectual property centres around solving big data problems surrounding skill gaming mechanics, algorithms pertaining to balancing cash prizes, game difficulty modules, and maintenance of Player Rewards percentages.
Royal Wins has released a suite of pure-skill mobile games on Android and iOS mobile/tablet platforms.
Royal Wins is listed on the Canadian Securities Exchange under the ticker symbol SKLL and on the OTCQB under the ticker symbol RYWCF.
For more information, please contact:
Royal Wins Corporation
Nicholas Konkin
Communications Director
Phone: 1 647 249 9299, ext. 305
E-mail: ir@royalwins.com
Forward-Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company’s filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should” and similar expressions are considered forward-looking statements.
Forward-looking statements may include, without limitation, statements regarding the Company’s unaudited financial results and projected growth. Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the gaming industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Royal Wins Corporation disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117864