Investment Rating - The report does not explicitly state an investment rating for the gaming industry but highlights trends and activities that suggest a cautious outlook for venture capital investments in the sector [15][20]. Core Insights - Venture capital activity in the gaming ecosystem saw a significant pullback in Q4 2024, with total deal value dropping to $1.1 billion across 134 deals, marking a 42.1% decrease quarter-over-quarter [15][20]. - The overall deal value for 2024 reached $7.2 billion across nearly 650 deals, indicating a year-over-year growth of 32.6% when excluding a major outlier deal [20]. - The gaming industry is experiencing rising development costs, with notable titles like Call of Duty Black Ops Cold War costing approximately $700 million to develop, which is three times the cost of The Last of Us [18]. - The emergence of gaming-specific funds is providing a tailwind for startups, although the number of active gaming investors has decreased significantly from 2,366 in 2021 to 1,155 in 2023 [18]. Summary by Sections Gaming Landscape - The gaming ecosystem encompasses the entire game development life cycle, including product development technologies, operational services, access and experience platforms, and the games themselves [15]. Vertical Update - The gaming ecosystem is evolving with commerce and interactive entertainment converging, as seen with Roblox's integration with Shopify [19]. - Nintendo's Switch has become the best-selling console in the US, surpassing the PlayStation 2 with over 46 million units sold [19]. VC Activity - Q4 2024 saw a reversal in venture activity, with a deal value of $1.1 billion and a deal count of 134, both representing significant declines [20]. - The average quarterly deal value since Q1 2023 has been approximately $1.3 billion across 171 deals, indicating a relatively steady state despite the recent downturn [20]. Gaming VC Deal Summary - The report details a total of 134 deals in Q4 2024, with a deal value of $1.1 billion, reflecting a 66.7% decrease from the previous quarter [40]. - The full-year exit activity totaled 54 deals worth $4.3 billion, a decrease of 26.2% year-over-year [27]. Key Gaming Early-Stage VC Deals - Notable early-stage deals in Q4 2024 included Aethir raising $115.2 million and Luma AI securing $90 million [36]. Key Gaming VC Exits - Significant exits in 2024 included SuperPlay's acquisition by Playtika for $700 million and Jackpocket's acquisition by DraftKings for $750 million [38].

Group 1 - Tencent announced that its mobile game "Xianjian Qixia Chuan Online" will cease operations on June 2, after nearly 8 years since its public launch on April 26, 2017 [1] - The game stopped recharge and registration functions on March 31, and users who purchased products before that date can claim compensation during the event period [1] - This decision may affect investors' perception of Tencent's gaming business sustainability, although compensation measures could alleviate concerns about user attrition [1] Group 2 - Asobo Studio released a "Sim Update 2" for "Microsoft Flight Simulator 2024," introducing a "gaze point rendering" feature that reduces GPU load and improves frame rates by focusing rendering on the user's gaze [2] - The update enhances the VR experience and indicates the company's commitment to technological innovation, potentially boosting market confidence in its growth prospects [2] - This development positively impacts the gaming software and VR device sectors, contributing to a favorable sentiment towards technological advancements in the industry [2] Group 3 - Nintendo announced a delay in the pre-order of Switch 2 in the U.S. due to the assessment of potential impacts from U.S. tariff policies and changing market conditions [3] - The release date for Switch 2 remains unchanged at June 5, with the multilingual version priced at 69,980 yen (approximately 3,462 RMB) [3] - This cautious approach may raise market concerns regarding Nintendo's supply chain and cost structure, potentially affecting the video game hardware sector and investor expectations [3]

【环球网科技综合报道】4月6日消息，外媒Roadtovr近日联系任天堂后确认，该公司2019年推出的Labo VR纸板头显配件无法兼容新发布的Switch 2游戏机。 这一决定标志着任天堂在VR硬件兼容性上的重大调整。 业界认为，Labo VR的停更对任天堂VR生态构成挑战。该配件曾凭借纸板DIY配件和低成本VR体验吸引家庭用户，但其720p分辨率和60Hz刷新率的硬件短 板，已难以满足现代VR市场需求。任天堂粉丝对此反应不一：部分用户期待新VR硬件的推出，另一些则对Switch 2的兼容性策略表示失望。（青山） 根据任天堂官方说明，Switch 2的尺寸较初代Switch有所调整，导致其无法装入Labo VR的纸板支架。这一变化直接导致Labo VR成为首款被Switch 2排除在 兼容列表外的第一方游戏配件。此前，任天堂曾宣布Switch 2对第一方游戏的兼容性达99%，仅《任天堂Labo Toy-Con 4:VR套装》因硬件不匹配被明确排 除。 尽管Labo VR无法直接适配Switch 2，但技术爱好者可通过"魔改"或重新开模自制头显配件实现兼容。不过，任天堂已明确表示"Labo VR配件不支持Swi ...

Core Viewpoint - Nintendo has announced a delay in pre-orders for the Switch 2 game console due to the impact of new tariffs introduced by President Trump, although the launch date remains unchanged [2][3]. Group 1: Pre-order and Launch Details - Pre-orders for the Nintendo Switch 2 in the U.S. will not start on April 9, 2025, as initially planned, to assess the potential impact of tariffs and market conditions [2]. - The launch date for the Switch 2 is set for June 5, 2025, and remains unchanged despite the pre-order delay [2]. Group 2: Tariff Impact - The tariffs imposed include a 46% tariff on Vietnam and a 54% tariff on China, which are significant for electronics manufacturing [3]. - Nintendo has not disclosed the manufacturing location for the new consoles or whether the price of the console, set at $450, will increase due to the tariffs [3]. Group 3: Product Features and Market Performance - The Switch 2 is described as a larger and faster version of the original Switch, which sold over 150 million units since its launch in 2017 [4]. - The Switch 2 is powered by a custom Nvidia chip and can function as both a handheld console and a home console [4].

Nintendo has blamed Trump's tariffs for a delay in when Americans can preorder its highly anticipated Switch 2, The company will push back preorders from April and will announce the new preorder date "at a later date," per a company statement shared with Business Insider."Pre-orders for Nintendo Switch 2 in the U.S. will not start April 9, 2025 in order to assess the potential impact of tariffs and evolving market conditions," the statement read. "Nintendo will update timing at a later date. The launch da ...

Nintendo is delaying preorders for the newly announced Switch 2 in the U.S. due to concerns around President Donald Trump’s tariffs. Preorders will no longer begin on April 9.“Preorders for Nintendo Switch 2 in the U.S. will not start April 9, 2025, in order to assess the potential impact of tariffs and evolving market conditions,” a spokesperson for the company said in a statement to TechCrunch. “Nintendo will update timing at a later date. The launch date of June 5, 2025, is unchanged.” Nintendo still pl ...

Core Viewpoint - Nintendo's new console, Switch 2, is set to launch globally on June 5, 2024, but has received mixed reactions from players due to perceived limited innovation and controversial pricing strategies [1][5]. Pricing Strategy - The domestic version of Switch 2 is priced at 49,980 yen (approximately 2,473 RMB), while the multilingual version costs 69,980 yen (approximately 3,462 RMB), leading to dissatisfaction among players who feel penalized for language limitations [1][5]. Financial Performance - Nintendo's financial report for the first three quarters of the 2025 fiscal year (April to December 2024) shows a 31.4% year-on-year decline in sales to 956.2 billion yen (approximately 47.25 billion RMB) and a 46.7% drop in operating profit to 247.5 billion yen (approximately 12.23 billion RMB) [5][12]. - Net profit also fell by 41.9% to 237.1 billion yen (approximately 11.72 billion RMB) [5][12]. Hardware Upgrades - Switch 2 features a larger 7.9-inch 1080P screen, HDR support, and 120FPS capability, with a 4K resolution in docked mode, but is seen as merely catching up with competitors [7][9]. - New features include a "C button" for GameChat and a mouse mode for the Joy-Con 2, which aims to enhance the gaming experience [7][9]. Game Library and Market Position - A range of third-party games, including major titles like "Elden Ring" and "Cyberpunk 2077," will be available on Switch 2, but the upgrades are viewed as insufficient to significantly boost sales [9][10]. - The competition in the gaming console market remains fierce, with Nintendo needing to differentiate itself through unique gameplay experiences rather than just hardware performance [9][14]. Future Outlook - Analysts express skepticism about whether Switch 2 can revitalize Nintendo's performance, emphasizing the need for blockbuster games to drive sales [14][15]. - The gaming market is experiencing a contraction globally, but the Chinese market is showing growth, indicating a potential area for Nintendo to explore [13].

每经记者 李宇彤 每经实习编辑 余婷婷 ｜2025年4月4日 星期五｜ NO.3 腾讯《剑灵2》全平台正式上线 4月3日，腾讯旗下次世代双端互通MMO（大型多人在线）游戏《剑灵2》全平台正式上线，玩家可以通 过游戏官网、WeGame下载，体积约24.8GB。游戏已于去年12月获得版号，由NCsoft开发、腾讯与小明 太极联合运营，支持移动设备和PC跨平台游戏。 点评：《剑灵2》的正式上线，标志着腾讯在双端互通游戏市场的进一步布局，其跨平台特性有望吸引 更广泛的用户群体，增强其市场竞争地位。此事件可能对公司股价产生积极影响，反映出其在游戏领域 的持续创新能力。对相关行业板块而言，此举或引领行业趋势，促使其他游戏公司加快跨平台游戏研 发。 NO.4 任天堂Switch 2确定发售时间和售价 NO.1 腾讯游戏协助警方破获《QQ 炫舞手游》"自动跳舞"外挂制售案 4月3日，腾讯游戏安全中心发文，宣布该公司与长垣警方协助配合，成功破获了一起《QQ 炫舞手 游》"自动跳舞"外挂制售案。据公告内容，《QQ 炫舞手游》安全团队在2025年1月至2月期间，检测出 代号为"秋风科技""幻之炫舞社"等可实现自动跳舞的外挂，均已完 ...

每经记者 李宇彤 每经实习编辑 余婷婷 4月2日晚间，任天堂Nintendo Switch 2（以下简称Switch 2）的直面会直播如期召开。新一代Switch 2正式亮相，预计今年6月5日全球发售。然而，此番登场 亮相后，众多玩家对于这款等了多年的新机型反响并不算良好，除了被指创新有限外，其定价策略也成为了争议的焦点。 图片来源：任天堂日本官网截图 折算下来，日本之外比如中国玩家还需要多交近1000元的"日语税"？任天堂Switch 2的定价方式随即引发了大家的不满，众多玩家在社交平台吐槽："因为不 会日语被任天堂'罚款'20000日元。" 《每日经济新闻》记者注意到，直面会结束后，任天堂日本官网公布了Switch 2的具体售价——日本国内专用版（简称日版）为49980日元（约合人民币 2473元），多语言版本则要贵上20000日元，售价为69980日元（约合人民币3462元）。任天堂表示，日版是专为日本国内设计的版本，仅支持日语，只有 将"国家/地区"设置为"日本"的任天堂账户才能进行关联。 除硬件升级之外，本次Switch 2最大的变动在于新增的"C键"以及手柄Joy-Con 2的鼠标模式。新增的C键 ...

因为担忧关税，任天堂给Switch 2定了个"高价"，这不仅仅是游戏行业的价格信号，更预示着全球范围 内，尤其是依赖贸易的行业，都将面临价格上涨的压力。 虽然Switch 2的价格已经明确，但它所带来的创新，可能并不能完全匹配市场的期待。Switch 2配备了 7.9英寸的LCD屏幕，256GB的内部存储以及新的聊天和视频功能，但这些升级，在Serkan Toto看来，更 像是"渐进式"而非"革命性"的。 初代Switch迄今已售出超过1.5亿台。这款售价300美元的设备，在八年前作为世界上第一款手持和家用 游戏机的混合体发布时，彻底改变了游戏行业。 对于投资者而言，Switch 2的成败，将直接影响任天堂的股价表现。 风险提示及免责条款 4月3日根据媒体报道，任天堂Nintendo备受期待的Switch 2游戏机将于6月5日上市，售价高达449.99美 元。这一价格，已经逼近了分析师的预期上限，特朗普的关税威胁正在对游戏行业的未来销售预期构成 潜在的冲击。 除了主机价格之外，售价80美元的新马里奥赛车游戏，也表明关税影响已经扩散到整个生态系统，不仅 影响硬件成本，也推高了软件定价。这种定价策略的核心，不仅在 ...