Tencent plans ‘Valorant’ league as gaming crackdown eases
Launched globally in 2020, Valorant has become one of the most popular Esports titles, vying for a multibillion-dollar market along with rival shooters like Blizzard’s Overwatch.
Overview:
- As Tencent launches the game locally, a tournament may begin early in the summer.
- One of the sources said, requesting anonymity because they were discussing private information.
One of the clearest indications yet that China's internet juggernauts are restarting operations after a two-year industry crackdown is Tencent Holdings Ltd.'s plans to organize a Valorant Esports league when the popular shooter game releases in the country this year.
You can also download the Tournafest app from Google Play or App Store to play Esports Tournaments & Scrims games like BGMI, Free Fire MAX, Call of Duty, CS: GO, Valorant, Pokemon Unite & win exciting rewards! You can also go ahead and organize Tournaments & fetch unmatched perks.
According to persons who know the situation, TJ Sports, a Tencent subsidiary, has recently discussed the competition's setup with prominent Chinese Esports players. As Tencent launches the game locally, a tournament may begin during the summer at the earliest, one of the sources said, requesting anonymity because they were discussing private information.
Tencent and his plans for the Valorant crackdown
According to the sources, Tencent may delay its timeframe since talks are still in their early stages. However, a Valorant league will assist in reviving competitive online gaming in China following a two-year hiatus caused by economic restrictions and Beijing's crackdown on teenage addiction. After its worldwide release in 2020, Valorant has become one of the most well-liked Esports games, competing for a sizable market with competitor shooters like Blizzard's Overwatch. Investors saw Tencent's decision to release the game only in December as a hint that the government was getting ready to loosen its control over the industry.
The price of Tencent's shares increased in late Hong Kong trading, reaching a peak of 1.8%, before finishing mostly flat. Recent weeks have seen an increase in price expectations for Tencent from brokers like Morgan Stanley, who are betting on a resurgence in growth if limitations are loosened and initiatives to sell video advertisements gain traction. According to Marvin Chen, a Bloomberg Intelligence analyst, "these are encouraging indicators that China's tech businesses are back in operation with regulatory hurdles mostly behind them." It is also consistent with previous remarks made by politicians that innovation continues to play a significant role in national growth.
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A message from a Tencent official said that the business was conducting Valorant preparations but had not yet set a launch date. A Valorant extravaganza would be added to Tencent's list of Chinese competitive leagues, which now includes clubs for first-person shooters, racing, and battle arenas. To manage League of Legends competitions, Tencent established TJ Sports alongside US subsidiary Riot Games Inc. in 2019. Another division manages competitions centered on Honor of Kings, Tencent's enduringly popular mobile cash cow.
Valorant will help Tencent strengthen a company that has been hobbled by greater online content regulation and any possible Esports events. Since 2021, when authorities started restricting everything from gaming time to offensive material, growth for the WeChat operator has vanished. Esme Pau, an analyst at Macquarie Capital Ltd., says, "We consider Tencent's introduction of a gaming league as a positive and bodes well for both the business and the larger Chinese gaming market in 2023 and beyond." "With the NPPA's approvals for both local and imported games (like Valorant), which signify increased transparency, Chinese game businesses are better positioned to engage in and launch marketing campaigns around significant franchises and create stronger gaming momentum and revenue."
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The Chinese social media juggernaut received approval in December for several significant releases, including Valorant and Pokémon Unite, bolstering optimism that China is loosening its two-year ban on Big Tech. Because Beijing had previously expressed its displeasure of violent shooting games with what it regarded to be Western cultural connotations, Valorant, in particular, caught people's notice. For instance, Tencent was compelled to replace PUBG with the less graphic PeaceKeeper Elite, which included political statements. To build the infrastructure required to transform professional gaming from a niche into a crucial component of its development plan, the firm has spent billions of dollars on talent agencies, streaming services, and tournament organizers.
The biggest Esports league in the world in terms of partnered teams and viewership is the League of Legends Pro League in China, which TJ runs. The Shanghai-based company sold broadcast rights, tickets, and goods to earn around $150 million in its first two years of operation. Riot runs three Valorant foreign leagues with 30 teams outside China in cities including Berlin, Seoul, and Los Angeles.
You can also download the Tournafest app from Google Play or App Store to play Esports Tournaments & Scrims games like BGMI, Free Fire MAX, Call of Duty, CS: GO, Valorant, Pokemon Unite & win exciting rewards! You can also go ahead and organize Tournaments & fetch unmatched perks.
Until next time,
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