The company is also moving ahead with the continuous improvement of existing gaming platforms, geographic expansion, and penetration into new gaming segments such as mobile tournaments, esports, and games of chance
Royal Wins Corporation (CSE:SKLL, OTCQB:RYWCF) announced 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.
The company also said it is moving ahead with the continuous improvement of existing gaming platforms, geographic expansion, and penetration into new gaming segments such as mobile tournaments, esports, and games of chance.
Royal Wins said it has formed a team specifically dedicated to building products outside core product development, which will collaborate with leading blockchain games developer Labrys to ramp up strategy and production for the launch of Royal Wins’ first blockchain gaming product on HTML5.
READ: Royal Wins launches Kash Royale app on Apple and Android
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.
“NFTs are exploding in popularity with trading volumes eclipsing their own records quarter over quarter,” said Royal Wins COO Robert Fong in a statement.
“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.”
Royal Wins noted that the money generated by NFT trading went from $10.7 billion in the third quarter of 2021 to $11.9 billion by the end of 4Q 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 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 US dominated in terms of traffic in 2021.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham
