During his keynote talk on the first day of GDC Europe Tencent Games’ vice president Bo Wang talked about how Tencent reached the top of the Chinese online games market. While Tencent is best known as a leading provider of Internet and mobile & telecommunications value-added services in China, Wang spoke of the massive potential for growth in the Chinse market and how his gaming department had already generated $1.3 billion U.S. dollars in the first six months of 2010. Tencent currently has two of the top three online game titles in China.
Insider Gaming writes: "In recent hours, some of the biggest gaming corporations in China suffered from sizeable tumbles in their shares as the National Press and Publication Administration published a draft of guidelines aimed at clamping down on spending in online games.
This action saw Tencent’s share value plummet by around 16%, with a loss of around $54 billion, while NetEase’s value collapsed by almost 30%."
To bad for recent, nothing but bad shyt coming out for tecent and embracer. The people that hates them got what they want. I understand why China did this for each one listed. Still daily rewards be nice though either way doesnt effect me I don't think i played tencent games that I know of. (Random empty tencent folder on phone) still curious where that came from though.
It’s called a communist government that kills people on a large scale. Has what is the equivalent of a concentration camp for minorities. Does anything have to make sense when it come to gaming? Not at all.
Okay... for everyone else out there the this is actually a good thing and we would appreciate it if other market authorities used their power to protect consumers. The reason why this is so 'devastating' is because so much of the video game market has changed to rely on these profits.
*Online games must set spending limits
*Online games must ban daily login rewards
*Players who stream their games must not be able to receive large tips
*Probability-based luck draws must not be offered
*Online game approvals must be processed by regulators within 60 days of publishing
China got this right.
Take gambling out of gaming! Stop promoting addictive that largely target children.
You have to be able to recognize the bad things and the good things when analyzing an entity (like China or anyone else) or else you are degraded yourself. If you can't use critical thinking, anyone with malicious intent can pull the wool over your eyes. If this is you worry not, you can always take steps to improving your reasoning and critical think skills!
Tencent owns more than just mobile games. They own the majority of Grinding Gear Games (Path of Exile), owns 40% of Epic Games (Fortnight, Rocket League), and outright owns Riot Games (League of Legends).
I'm sure there's others I'm not thinking off right now.
It means a loss of value for big corporations, but it’s plain bankruptcy for tons of smaller developers.
Not saying it was a wrong move, but you’re all cheering that big corporations got screwed and ignoring the huge impact it has in the studios whose business plans (thus jobs) vanished in thin air.
Curious if anyone thinks this is a good thing. Yeah we dislike microtransactions and gambling loot boxes, but do we want governments telling us what's good for us and what we can or can't have
Was it gambling when us kids bought panani football sticker packs back in the 80S not knowing what was in the pack ?
Should we ban chocolate for kids cause it's addictive or anything with sugar in it ?
@everton
Yeah it was, but it was a little different back then because nobody cared or knew mostly. Also kids weren't stealing parents credit cards to buy sticker packs , because they weren't expensive, you could buy a bunch for a couple of pounds, they were also real items not digital crap that goes away as soon as servers go down, the digital stuff now are macrotransactions, and they only keep going up in price as companies get away with more. I hope it gets banned on all countries.
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Unfortunate. Them and CDPR were the most promising studios to come out of Europe in the last 20 years.
Tencent has confirmed to TechRaptor that its AAA studio Team Kaiju has been shut down, while its unannounced AAA game has been canceled.
The court docs from the Epic vs. Google court case have revealed that Google once thought about teaming up with Tencent to buy Epic Games.
Last thing we need is Tencent having that big of a presents globally in gaming, especially with Google.
