Play-to-earn platform Bowled.io signs Harsha Bhogle as strategic investor
1 min read . Updated: 24 Jan 2023, 12:56 PM IST
PremiumBhogle will lead the think tank, aiding it with insights, connecting with global cricket fans and assist in developing newer formats for cricket-based games
Play-to-earn game Bowled.io has added cricket commentator Harsha Bhogle as a strategic investor in its company. Bhogle, the company said, will lead the think tank, aiding it with insights and connecting with global cricket fans. He will also assist in developing newer formats for cricket-based games on the platform and team up with multiple international cricketers to further the platform.The platform was launched in March 2022 and raised $3 million from global investors and industry veterans.Rahul Singh, the company’s cofounder said, “We started with a mission to bring together cricket lovers from all over the world through the power of sports, gaming and social engagement. We are excited to add Harsha as a brand ambassador and strategic investor. His expertise and understanding of the sports ecosystem will help us grow and connect with sports fans globally."Users on its platform, Singh said, can own in-game assets, compete in tournaments, reap economic benefits from the platform and more. Its ecosystem uses blockchain technology.Harsha Bhogle said, “Strategy-based games have always piqued my interest since they let people compete with one another and get more involved. I was drawn in by the prospect of working with a youthful, zealous team of cricket enthusiasts and their new take on cricket. I now expect a prolonged, exploratory journey with this fantastic young team."It has six hyper-casual games and two mid-core and strategy games. The flagship game is ‘Faceoff’. The company’s cofounder added that they have plans to bring live cricket games on its platform next.The number of Indian gamers is expanding at a compounded annual growth rate (CAGR) of 12% and is expected to jump to 700 million in FY25 compared with 507 million in 2021, said a report by Dentsu titled Gaming Report India 2022 - For the Game. About 46% of gamers in India are women and that overall, ‘Real Money Game’ revenues currently constitute 57% of market size but future growth is projected to be driven by in-app purchases growing at a 34% CAGR. There were 120 million paying users in FY22, which represents a 24% conversion rate.