Tencent Developing Mobile Version of 'Elden Ring'

• Tencent adapting "Elden Ring" for mobile.
• Shifts to free-to-play, diverging from the original.
• Urgency due to recent gaming release underperformance.

In an effort to revitalize its aging portfolio of games, Tencent Holdings, the world's largest gaming company, has reportedly been working on adapting the critically acclaimed action role-playing console game "Elden Ring" into a mobile version, according to sources familiar with the matter.

Tencent acquired the licensing rights for "Elden Ring" from FromSoftware in 2022 and established a dedicated team to work on a prototype. The company, known for its strategic investments in the gaming industry, also secured a 16% stake in the Japanese game maker the same year. However, progress on the mobile adaptation has been described as slow by insiders.

Despite not publicly disclosing its plans for a mobile version, Tencent aims to transform "Elden Ring" into a free-to-play game with in-app purchases, similar to the successful model employed by its Chinese competitor, miHoYo, with "Genshin Impact." This shift in business model contrasts with the original game's design, which is centered around a one-time purchase for a complete gaming experience.

"Elden Ring," a collaboration between "Game of Thrones" author George R. R. Martin and veteran game designer Hidetaka Miyazaki, achieved considerable success upon its release in 2022, selling approximately 20 million copies in its first year and securing the title of the world's second best-selling game for that period.

Tencent's move to adapt premium console games for mobile platforms has faced challenges in the past. The company reportedly abandoned a project based on the popular "Nier" franchise in December due to concerns about monetization.

The urgency for Tencent to find a new gaming hit has heightened, with the company's chairman acknowledging the threat to its gaming business. While earlier successes like "PUBG Mobile" continue to generate robust revenue, recent releases have fallen short of expectations.

Tencent and FromSoftware have not provided official comments on the reported mobile adaptation of "Elden Ring," and the sources requested anonymity as they were not authorized to speak to the media. Tencent's cautious approach to pursuing games based on other companies' franchises reflects the challenges of a gaming market reaching a plateau and potential delays caused by Beijing's opaque game approval system.

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