China continues to suppress gaming. Tencent and NetEase are losing tens of billions of dollars – INDIA

- Advertisement -

Chinese video game giants are gripped by panic that could affect their investments around the world. Chinese government continues to restrict gambling and is developing new rules designed to limit the growing costs of residents on online games.

- Advertisement -

The Chinese government has long been unhappy with how much time people spend gaming. In the past, for example, restrictions were placed on what times minor players could play and how many hours per day. He considers games de facto to risk and recently wants companies to stop rewarding players for daily logins, first digital transaction and other practices that are quite common in free-to-play games.

In addition, companies will have to limit the maximum amount that can be credited to a virtual wallet. They should also be careful not to offer good luck items (loot boxes) to minors. They will also not be able to sell in-game items on auctions. For publishers, this will mean reduced revenue from online games..

For the government to control all of this, publishers will need to locate their servers, equipment and databases in China. In addition, the Chinese government may severely restrict corporate activities abroad, including in the US and Europe, as Chinese companies will have to follow Chinese laws and “culture” abroad so as not to jeopardize China’s national security.

Currently, this is just a proposal from the Chinese government. But this was enough to the value of the two largest giants Tencent and NetEase has fallen significantly. The market value of both companies is expected to fall by $80 billion. Chinese residents now have until January 22, 2024 to share their views on the new rules.

Techland Investments: Fatshark, Funcom, Fulqrum Publishing, Grinding Gear Games, Klei Entertainment, Leyou Athlon Games, Digital Extremes, Splash Damage, Miniclip, QQ Games, Riot Games, Radiant Entertainment, Sumo Group Sumo Digital, Auroch Digital, The Chinese Room, Supercell, Techland, TiMi Studios, Tequila Works, Turtle Rock Studios, Valhalla Game Studios, Visual Arts Key, Kinetic, Novel, WeGame, Yager Development or Bohemia Interactive.

In recent years, NetEase has founded a number of studios overseas with video game industry veterans. She also bought Quantum Dreamcreators of Detroit: Become Human, Beyond: Two Souls and Heavy Rain, working on Star Wars Eclipse.

Go to website

Source :Indian TV

- Advertisement -


Related articles


Please enter your comment!
Please enter your name here