Genshin Impact Creator miHoYo Reaches Incredible Milestone
A new revenue report has revealed that Genshin Impact's creator, miHoYo, has reached an important milestone by reaching a valuation of $23 billion. Back in February 2022, miHoYo expanded globally by launching its subsidary HoYoverse to better represent the developer's expansion into various forms of entertainment beyond gaming, but the company still goes by its original name in China.
Genshin Impact's banner mechanic allows Travelers to pull for a certain number of characters and weapons for a short period, which is the game's main source of revenue. The ongoing Version 4.5 has introduced a new five-star Geo character named Chiori who was featured in the first part of the update alongside Arataki Itto.
An interesting post on Genshin Impact's main subreddit shows the list of the 15 largest private companies along with their valuation, which was done by Hurun Research Institute and reported by Game World Observer. According to the report, miHoYo took the 12th spot on the list with a $23 billion valuation, up 91 places from its previous valuation. It's worth noting that miHoYo is also the highest-ranked private company in the gaming sector. One of the main reasons behind such a high valuation is the success of its two main titles: Genshin Impact and Honkai: Star Rail. Genshin Impact was released back in September 2020, and it has managed to accumulate a large player base since then.
Genshin Impact's global success can be attributed to two main factors: the game is free-to-play and available on most platforms. While it's true that players can often spend hundreds if not thousands of dollars to acquire a desired character, most of the game's content can be beaten by using free characters and weapons. One way Genshin Impact manages to retain its player base is by releasing frequent updates that keep the game fresh.
Despite being released just over a year ago, Honkai: Star Rail can compete with Genshin Impact's revenue. According to a recent revenue report, Honkai: Star
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