China China’s Video Game Industry Takes a Sigh of Relief as New Video Games Approvals…
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Gaming news; Some exciting developments happening in the gaming industry where some veterans have joined hands to make an independent gaming studio and TikTok maker ByteDance is ready to challenge the gaming hegemon in China. Get ready as we will be pouring down a lot of exciting game-industry information in this piece.
Despite India being a promising venue for games, there isn’t all sunshine and rainbows for the industry. A political spat and military tension between India and China caused a considerable dent in the gaming industry. Following military tensions at the border lead to a ban on 59 Chinese apps and six weeks later a ban was expanded to 118 more apps.
Addiction to anything is injurious, ladies and gentlemen, and China has recently revised its laws pertaining to internet addiction and minors. China has asked online service providers to restrict time and internet consumption limits for children. Of course they mean Game Addiction!
Some games show their supremacy right from the start, and MiHoYo’s Genshin Impact is one of them. This open-world action-adventure grossed more than $60m in its launch week and that only on mobile; App Store and Google Play.
Arm is a UK based semi-conductor firm famous for creating technology and designs related to CPU and processors used in various mobile phones. Arm was one of the integral suppliers for Apple. And in a recent and surprising development, graphic card giant Nvidia bought Arm for $40bn.
Tencent Holdings, according to various credible reports, wants to merge the two Chinese live streaming giants, Huya and DouYu. Resultantly, the shares of both these companies popped in response to Tencent’s idea.
Tencent Holdings, entertainment, and the tech giant has more than one-third share in both Huya and DouYu and wants to become the largest stakeholder of the combined live-streaming platform. The market capitalization of both Huya and DouYu is huge, both sitting at $5.9billion and $4.9billion respectively. And according to Reuters, if this merger happens it will also include Tencent’s e-Game streaming platform which is the fourth largest in China.
You say, Huya and DouYu? What about it, is it in China? So Huya recently introduced its Yowa cloud gaming service, following rival DouYu’s launch of its own cloud games platform in March. But here comes a very funny fact; both companies are controlled by Tencent Holdings, which runs the world’s largest video games business by revenue.