Convival is a free to play , play to earn real time strategy game.The integration of Blockchain and Web3 make Convival a disruptive innovator with solid growth potential.
The global gaming market size was USD 203.12 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with the industry witnessing a positive demand shock across all regions amid the pandemic. Based on analysis, the global market exhibited a stellar growth of 38.24% in 2020. The market is projected to grow from USD 229.16 billion in 2021 to USD 545.98 billion in 2028 at a CAGR of 13.20% during the 2021-2028 period.
The global mobile games market generated $7.3 billion from player spending across the App Store and Google Play in September 2021, marking an increase of approximately 11 percent year-over-year.
Lets See How Much Clash Royale Makes Revenue?
Thats in Wooping millions , Here is one catch the downloads in Clash royale is 1/5 compared to Clash of Clans so its clear clash royale is far more revenue generating than clash of clans.
How Play-To-Earn Model is Reinventing Gaming
Although monetising online video games is not new, NFT games have pushed the frontier of gaming income with player ownership.
In the past, dedicated players created wealth by building an online community of followers or by selling high ranking gaming accounts. In 2020, the gaming industry revenue growth rate surpassed other sectors in the entertainment industry at a 27% annual increase.
Now, there is much more to benefit from blockchain technology. Gamers can own all the in-game assets from their hard work and hours of playing, they can vote and make decisions to improve the gaming experience, they can even own a part of the game by investing in its development. In-game cryptocurrencies are assets that are highly valuable outside of the gaming environment.
Exponential Growth in the NFT-based Gaming Market
Digital art NFT, such as Beeple’s ‘Everydays: The First 5,000 Days’ and the Crypto Punks and Bored Ape. Yacht Club series led the growth of the NFT market from early last year to the first quarter of 2021. However, 2021’s second quarter saw a sharp change, with Blockchain game-related projects driving NFT growth ever since. The second quarter of 2021 alone has seen the number of active wallets in blockchain games increase by 599% compared to the previous quarter. This dramatic growth is expected to continue.
SKY Mavis’ Axie Infinity in particular, is gaining attention due to its historically unprecedented growth rate. As of August 9, 2021, Axie Infinity's DAU surpassed 800,000, and daily trading volume reached $33 million. In the third week of July alone, the company topped the Ethereum Foundation, which recorded $38 million in development team revenue and $32.8 million in revenue.