MiHoYo, the creator of the popular video game Genshin Impact, announced the debut of HoYoverse on Monday, indicating its entry into the metaverse race.
So, MiHoYo CEO Haoyu Cai stated in a statement that the company hopes to create a virtual world with a “high level of flexibility and immersion.”
MiHoYo is most known for the RPG game Genshin Impact, which grossed nearly $2 billion in its first year of release in 2020 and was the highest-grossing mobile game in the world in September of last year, with US$341.7 million in player expenditure.
China has taken attempts to stifle the growth of blockchain-based applications like non-fungible tokens (NFT) and cryptocurrencies, and a think tank within the Ministry of State Security warned in October that the metaverse might constitute a national security danger.
Global internet heavyweights like Microsoft and Meta have already hopped on the metaverse bandwagon, as have Chinese tech giants like Tencent and ByteDance.
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