Royal Wins Corporation (CSE: SKLL) ("Royal Wins" or the "Company") is pleased to announce a partnership with Labrys, Australia's leading blockchain agency. Labrys has extensive experience delivering large-scale blockchain solutions for global clients, including ASX-listed Downer EDI, NEM Group, Solomon Islands Government, and APAC CIO Outlook Top 50 Enterprise Startups award winner. The newly formed partnership will provide the tools for Royal Wins to enter the blockchain gaming and collectibles (NFT) space. The Company's existing hyper-casual gaming vector combined with the newly announced NFT market entry would position Royal Wins with growth strategies in the two fastest growing segments within the online gaming space.
"We're extremely pleased to have Labrys come on board to help us plan out our approach and delighted with their confidence in Royal Wins. We have been watching the growth of blockchain games and collectibles over the last year and are excited to integrate these technologies into our ecosystem. Until now, the gamification of NFT and blockchain technology has been limited to an audience of early adopters conversant in navigating the technical complexities of blockchains and tokens. Staying true to our philosophy of "easy to learn, hard to master", our objective at Royal Wins is to provide an intuitive and fun way for a mainstream casual gaming audience to interact with in-game NFTs through our Kash Karnival app. We are confident that Labrys will be able to help us extend this philosophy into the world of blockchain games and collectibles," said Peter Gan, CEO of Royal Wins.
Labrys' CEO Lachlan Feeney commented: "The team at Royal Wins have demonstrated a distinct comprehension of this technology. We see their push to explore its potential as a considered and innovative move. We look forward to helping the business bring even greater levels of enjoyment and user engagement to their players. An opportunity to introduce validated blockchain concepts to the market with an established industry player such as Royal Wins is truly exciting."
Non-Fungible Token, or NFT is a record on a cryptocurrency's blockchain that represents pieces of digital media and that can link to art, text, video, or even code, basically granting exclusive rights to a digital artwork (see an article by The Economist). According to a data tracking company DappRadar, NFTs generated almost $11bn in sales between June and September 2021.
NFT gaming is considered one of the fastest growing spaces within the online gaming industry with investments in the sector quadrupling to almost $500M in the first half of 2021. A recent article by Forbes confirmed that visits to games-related pages increased eightfold in July alone, and the number of unique active wallets on all games doubled to ~740K. Dragos Dunica, CDO & co-founder of DappRadar, said: "As we plunge deeper into the metaverse, blockchain gaming is set for meteoric growth."
About Royal Wins
Royal Wins is an innovative digital games studio pioneering skill game wagering and betting on mobile casual games. Established in 2014, we design, develop, and operate real money wagering skill games, to disrupt and dominate the online gaming space such that all players of legal age can play and win life-changing jackpots and prizes on their skill instead of only on chance and odds. Our primary innovation and intellectual property centres around solving big data problems around skill gaming mechanics, algorithms pertaining to balancing cash jackpots, game difficulty modules, and maintenance of Return-to-Player (RTP) percentages.
Royal Wins has released a suite of pure skill mobile games on Android and iOS mobile/tablet platforms via their skill gaming app, the Kash Karnival.
Royal Wins is listed on the Canadian Securities Exchange under the ticker symbol SKLL.
For more information, please contact:
Royal Wins Corporation
Phone: 1 647 249 9299, ext. 305
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 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 medical-use and recreational-use marijuana 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.
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