San Francisco-based Revolving Games says its hybrid Web2/Web3 business model is gaining early traction after quietly launching four free-to-play titles that add blockchain features once players are engaged. Flagship mobile strategy game War of Nova, built over four years at a cost of about $25 million, has attracted 700,000 installs and 40,000 paying customers. The company projects the game will generate roughly $30 million in annualized revenue, supported by day-one/day-three/day-seven retention rates of 45%, 38% and 26% and average session times of 30 minutes. Casual mobile and PC title HatchKings has brought in $1.4 million during its first 10 days, and the studio’s broader slate has driven what co-CEO Ammar Zaeem calls a “player-first” approach to blockchain integration. Backed by investors including Pantera Capital and Animoca Brands, Revolving Games targets $60 million in annual recurring revenue by the end of 2025. The 150-person developer is preparing to launch fantasy role-playing game Skyborne: Phoenix Flight later this year and to roll out its RCADE Network token and infrastructure, which it says will link games, developers and players to shared rewards.