Core Viewpoint - The phenomenon of high-budget projects related to Jin Yong's centenary celebration failing continues, highlighting issues such as insufficient team experience and delayed development progress, which have severely undermined market confidence in these projects [1][2][3]. Group 1: Project Failures - The project "Jin Yong Martial Arts World 3A" by TuSen Future has officially announced the dissolution of its Guangzhou branch, despite the Beijing and Shanghai teams continuing development [1]. - The film "The Legend of the Condor Heroes: The Hero of the Great" invested 600 million yuan, achieved pre-sale success but faced significant losses due to poor reviews [1]. - The TV series "Jin Yong Martial Arts World," which cost 870 million yuan, was abruptly pulled after airing only 30 episodes [1]. - The open-world MMO "The Condor Heroes," which claimed a budget of 1 billion yuan, underperformed in the market and is undergoing a remake [1]. Group 2: Audience Engagement Issues - The main reason for the failures of these projects is attributed to internal product issues, alongside a lack of appeal of the Jin Yong IP to younger audiences [2][5]. - Recent adaptations have attempted to modernize the Jin Yong IP to attract younger audiences but have largely failed to resonate with the target demographic [5][6]. - Data shows that the audience attracted to these adaptations is primarily older, with younger viewers showing less interest in Jin Yong's works [6][7]. Group 3: Marketing and Creative Challenges - The approach to appealing to younger audiences is flawed, as many product teams do not accurately understand the mindset of potential young fans of Jin Yong [11][12]. - Many new products are designed with a focus on modern aesthetics and trends, neglecting the deeper cultural significance and emotional connection older fans have with Jin Yong's works [12][13]. - The perception of Jin Yong's value among younger audiences is often tied to a desire for unique cultural consumption rather than mainstream appeal [13][14]. Group 4: Industry Insights - The difficulty in adapting Jin Yong's works stems from the established character templates influenced by previous adaptations, limiting creative freedom [22][23]. - The market for high-quality martial arts games has shifted, with innovation and quality becoming more important than reliance on classic IPs like Jin Yong [34][35]. - The challenges faced by Jin Yong adaptations are compounded by the audience's familiarity with the original stories, making it difficult to generate excitement for new interpretations [34][36]. Group 5: Future Outlook - Despite the current challenges, there is still hope for the future of Jin Yong IP adaptations, as high-budget projects may pave the way for more attempts if they demonstrate profitability [39][40]. - The next significant opportunity for Jin Yong's IP may arise around the 10th anniversary of his passing, suggesting a potential window for renewed interest and engagement [40].