Core Viewpoint - The article highlights the importance of legal cross-border evidence collection for companies facing intellectual property infringement abroad, emphasizing the role of notary services in facilitating this process [1][2]. Group 1: Company Insights - A game development company based in Wuhan successfully utilized the services of Wuhan Shangxin Notary Office to collect evidence against an overseas infringement of its game software [1]. - The company discovered that a game product on a foreign platform closely resembled its own, prompting the need for legal evidence to support its claims [1]. - The notary office provided a legal framework for evidence collection, ensuring that the evidence gathered would be recognized by judicial authorities [1]. Group 2: Industry Developments - The Shangxin Notary Office has introduced online professional cross-border evidence collection services, allowing for the rapid and legal fixation of key evidence globally [2]. - In the first half of 2025, Hubei province notary institutions handled 40,478 cases of foreign-related notarization, supporting various sectors including cross-border e-commerce and overseas intellectual property protection [2]. - Future plans include the development of self-service cross-border evidence collection services, enhancing convenience for parties involved [2].

The vast majority of game developers are using AI agents to cut costs, speed up production, and interact with players in real time, a Google study shows. https://t.co/hFppSmxlks ...

Group 1: Reddit - Reddit has shown strong revenue growth post-IPO, with Q1 ad revenue increasing by 61% to $359 million and daily active unique users rising 31% year-over-year to 108 million [3][4] - The company is introducing new AI-powered ad tools to enhance advertising demand, providing marketers with real-time insights into discussions on its platform [4] - Reddit's AI features, such as Reddit Answers, have gained traction, reaching 1 million weekly users in Q1, and the company is monetizing its valuable data by licensing it to AI firms [5] - Despite a 50% rebound from recent lows, Reddit's stock is still 36% below its all-time high, with analysts projecting a 51% year-over-year revenue growth for Q2 [6][7] Group 2: Unity Software - Unity is a leading game engine provider, experiencing significant growth with over 20% quarterly revenue growth until recently, but its stock has fallen 86% from previous highs due to high valuation and declining revenue [9][10] - The company is undergoing a "portfolio reset," which led to a 6% year-over-year revenue decline last quarter, but management's focus on high-growth and high-margin opportunities may unlock Unity's potential [11] - Unity has migrated its advertising business to the AI-powered Unity Vector platform, which is expected to enhance advertising results and drive long-term growth in its Grow Solutions segment [12] - The Create Solutions segment saw an 8% year-over-year revenue decline, but upcoming updates to Unity 6, including AI features, could stimulate demand for its software [13][14] - Analysts expect Unity's revenue to decline 2% in 2025 before growing 9% to $1.9 billion in 2026, with adjusted earnings per share projected to reach $2.34 by 2029 [15] - The stock is currently trading at 13 times 2029 earnings estimates, indicating potential for significant price appreciation [16]

Core Viewpoint - The article discusses the launch of "Mirage," the world's first AI-native game engine driven by real-time world models, which allows users to create and experience game worlds dynamically and interactively [2][16]. Group 1: Product Features - Mirage is designed for building dynamic, interactive, and continuously evolving gaming experiences, enabling players to generate and modify entire game worlds in real-time using natural language, keyboard, or controllers [3][4]. - The engine has released two playable game demos: "Urban Chaos" (GTA-style) and "Coastal Drift" (extreme racing style), showcasing its capabilities [5][6]. - All scenes in Mirage are generated dynamically in real-time, rather than being pre-scripted, creating an interactive and evolving simulation world [6][18]. - Players can use natural language commands to reshape the environment, triggering immediate world updates, which allows for a unique gaming experience every time [19][26]. Group 2: Technological Innovations - Mirage utilizes a large-scale autoregressive diffusion model based on Transformer architecture, enabling the generation of controllable, high-fidelity video game sequences [21][28]. - The system integrates frame-level prompt processing, allowing for real-time interaction where player commands are interpreted instantly during gameplay [25]. - The engine supports cloud gaming, enabling users to play anytime and anywhere without the need for downloads, and it features low-latency processing for player inputs [26][27]. Group 3: Market Position and Future Outlook - Compared to other recent AI gaming projects like Google's AI Doom/Genie and Microsoft's AI version of "Quake II," Mirage offers significant advantages such as real-time user-generated content creation, cinematic-quality visuals, and extended interactive experiences [13][14]. - The development team believes that continuous breakthroughs in real-time generation technology will reshape the future landscape of the gaming industry [16][34]. - The team behind Mirage consists of experienced professionals from major tech companies and universities, emphasizing a strong foundation in AI research and game design [32][33].

Core Viewpoint - Unity's Q1 2025 performance exceeded expectations, particularly in the Grow segment, but the new advertising model's impact is still uncertain and may not significantly boost revenue in the near term [1][2][17]. Financial Performance - Unity reported total revenues of $435 million for Q1 2025, a year-over-year decline of 5.5%, but above company guidance and market expectations [4][17]. - The Create segment saw an 8% year-over-year decline, slightly below market expectations, while the core subscription revenue grew by 13% [2][17]. - The Grow segment's revenue decreased by 4%, which was better than market expectations [19]. Operational Metrics - The net expansion rate improved to 97%, but still fell short of market expectations, indicating a slight decline in revenue from existing customers [21]. - The number of large customers (paying over $100,000 annually) increased to 1,260, reflecting a modest recovery [22]. - Deferred revenue remained stable, suggesting ongoing revenue challenges [24]. Cost Management - Operating expenses decreased by 35% year-over-year, with significant reductions in stock-based compensation [28]. - GAAP operating loss was $128 million, while adjusted EBITDA reached $84 million, exceeding both company guidance and market expectations [28]. Future Outlook - Management's guidance for Q2 2025 indicates expected revenues between $415 million and $425 million, reflecting a year-over-year decline of 5.3% to 7.5% [27]. - The transition to the new advertising model is anticipated to take longer than previously expected, with potential for a gradual recovery in the second half of the year [6][13].

Core Viewpoint - Epic Games has won a legal victory, allowing Fortnite to apply for listing on Apple's App Store [1] Group 1 - Epic Games is a game development company that has successfully navigated legal challenges related to its flagship game, Fortnite [1] - The victory in court is significant for Epic Games as it opens the door for Fortnite to be available on a major platform, potentially increasing its user base and revenue [1]

Core Insights - The global game development community is increasingly adopting external AI tools rather than developing them in-house to reduce costs and risks [1] - Major publishers are transforming into AI suppliers, providing AI tools to smaller developers, which is driving market maturity [1] - Customized AI tools tailored for game development are emerging, enhancing research and development efficiency [1] Summary by Sections AI Tools Adoption - More developers are opting to purchase AI tools instead of creating them internally, which helps in minimizing expenses and associated risks [1] Publisher Dynamics - Large publishers are evolving into AI tool providers for smaller firms, facilitating a more mature market landscape [1] Custom AI Solutions - There is a rise in specialized AI tools designed to meet the specific needs of game development, contributing to improved R&D productivity [1]

划重点 ① 成立于 2004 年的 Unity 因游戏开发失败转型为游戏引擎开发商，逐步确立了行业地位。它通 过创建解决方案（Create Solutions）和运营解决方案（Operate Solutions）两大业务获取收入， 并在 2020 年成功上市。Unity 支持多平台部署，希望让游戏开发更加"民主化"。 ② Unity 与 AppLovin 在游戏广告业务展开直接竞争。AppLovin 通过 AXON AI 模型不断优化广 告投放效率，业绩持续超预期；而 Unity 因数据整合过慢和 AI 能力缺失而明显落后。2022 年 Unity 曾拒绝 AppLovin 的 200 亿美元收购要约，现今两家公司的差距已经显著扩大。 ③ RockFlow 投研团队认为，经历定价风波和管理层变动后，Unity 在新任 CEO 领导下通过大 幅裁员、收缩业务等重整旗鼓，加上易用性高、跨平台能力强等优势，Unity 仍具备较强竞争 力。随着游戏行业复苏和开发者从专有引擎向通用引擎转移，Unity 前景可期。 RockFlow 本文共4915字， 阅读需约19分钟 上篇文章中，RockFlow 投研团队为大家深入剖 ...