Kingsoft's "Chinese Paladin" Joins Forces with The Sandbox! How to leverage the power of both swords to enter the European and American markets?
Video game software company Softstar Entertainment is bringing its game IP "Richman" into the metaverse, not only deepening the attachment of old players to Softstar Entertainment, but also expanding the market of a new generation of young people through the world of Web3. Softstar Entertainment stated that it plans to launch its own martial arts work "Chinese Paladin" on the metaverse platform The Sandbox by the end of the year, simultaneously entering the international markets in Europe and America. What are Softstar Entertainment's new Web3 goals for 2023?
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As Doyu Information Leverages the Power of "Dual Swords," It Steadily Establishes Its Web3 Business Landscape
With a history of 35 years, Doyu Information is a well-known Taiwanese computer gaming company that gained recognition in the Chinese gaming market in the 1980s with its in-house IPs "Xuan-Yuan Sword" and "Chinese Paladin," the two "dual swords." In early 2022, Doyu Information established a "Digital Assets Division" to lead its Web3 business landscape. In March of the same year, it entered the metaverse and launched its game-themed NFT (Non-Fungible Token) "Monopoly NFT." Currently, the Monopoly NFT serves only as a pass to enter Doyu Information's presence in The Sandbox, rather than a direct GameFi (Game Finance; blockchain game).
Compared to the time when NFTs started gaining popularity in 2021, Doyu Information entered the Web3 space relatively late. As a result, the company did not frequently introduce various initiatives or engage in Ask Me Anything (AMA) activities with the Web3 community and supporters. Instead, it combined limited-time games on The Sandbox platform during specific festivals (such as the Chinese New Year) to verify market and supporter acceptance. It is expected to launch "Chinese Paladin" by the end of this year to further establish its presence in the Web3 world.
"The Monopoly game, which has been released for many generations and features a casual entertainment style, is one of the factors that the company chose to incorporate it into Web3," said Chen Jiayu, the project planner of Doyu Information's digital assets.
Behind the apparent success, when Doyu Information initially entered Web3, Chen Jiayu mentioned that there were many opposing voices internally and externally. Internally, many were unaware of what Web3 entailed and the specific empowerment that NFTs could provide. Externally, players once believed that Doyu Information would no longer create Web2 games and transition to Web3.
"Within just one day of the Monopoly NFT launch, nearly 1,000 people flooded the voice community platform Discord, and a total of 1,111 NFTs were sold out in just a few days," added Zheng Xinya from Doyu Information's Branding Department.
However, by taking action, Doyu Information proved to Web2 players that the company did not abandon them. In February of this year, Doyu Information collaborated with the horror movie "The Bridge Curse" to launch the game "The Bridge Curse: Soul Journey" and announced the sequel "The Bridge Curse 2: Soul Release," which will be released by the end of the year. While managing its Web3 landscape, Doyu Information continues to build bridges between Web2 and Web3 with the long-standing support of players through Monopoly, Chinese Paladin, and new collaborations with well-known works. With actual foot traffic and NFT sales figures as evidence, the company is willing to continue investing resources in its Web3 business landscape.
The Key to the Collaboration between The Sandbox and Doyu Information: Taiwan's Native IP Advantage and Western Love for Wuxia Game Culture
As Monopoly NFT reaches its one-year mark, Doyu Information is now planning to expand its IP into the Western markets. Pinky, the Taiwan Ambassador of The Sandbox and founder of The Sandbox Metaverse Agency - TWCC, shared the opportunity for cooperation between the two parties. Doyu Information has many outstanding native works in Taiwan, such as "Xuan-Yuan Sword" and "Chinese Paladin." These Wuxia works are highly attractive to players in the Western markets beyond the Chinese-speaking community. Another key factor that led to the collaboration is The Sandbox's emphasis on the influence and originality of the works themselves, as well as their ability to attract and retain a diverse group of game enthusiasts in the long term.
As The Sandbox ecosystem matures, Doyu Information hopes to become a part of the Web3 infrastructure by joining The Sandbox. Currently, Doyu Information's player composition in The Sandbox is roughly 50:50 between new and existing players. Observing the overall player flow in The Sandbox ecosystem, there is approximately a 60:40 ratio of new to existing players. A comprehensive evaluation of these factors reveals that The Sandbox has the ability to introduce a certain proportion of new players to recognize old IPs and rally existing players' support.
Looking ahead to Doyu Information's development in Web3, Chen Jiayu responded that the company will progress "alongside the majority" with the Web3 market and The Sandbox, without abandoning existing supporters as it ventures into new territories. The most important aspect is how to maintain its own development space in the market and with customers, without simply changing its direction based on demand and trends, which is a challenge that all creators need to continually address.