Core Insights - Genshin Impact is undergoing significant changes in its commercialization strategy, including the development of a new UGC gameplay mode called "Qianxing Qiyu" [1][4][19] - The game has reached a critical point in its lifecycle, having been active for nearly five years, and is facing challenges related to long-term player engagement and monetization [1][19] - Recent updates and new gameplay features have sparked mixed reactions from players, highlighting a growing tension between monetization efforts and player experience [10][19] Group 1: Commercialization and Gameplay Changes - The upcoming "Kongyue Zhi Ge" version is a signal of Genshin Impact's shift in gameplay planning, featuring a complex narrative involving multiple factions [5][19] - The new UGC mode "Qianxing Qiyu" is being developed by miHoYo's Singapore team and is expected to introduce independent gameplay mechanics and monetization opportunities [7][9] - The introduction of new gameplay features, such as the card battle mode "Qisheng Zhaohuan," has received a lukewarm response, indicating potential misalignment with player expectations [10][11] Group 2: Player Reactions and Challenges - Players have expressed dissatisfaction with the high requirements for character diversity in new gameplay modes, which they feel pressures them to spend more money [12][14] - The ongoing tension between monetization strategies and player enjoyment has led to a decline in player engagement and trust [17][19] - The company faces the challenge of balancing commercial goals with maintaining a positive player experience, as evidenced by the backlash against certain gameplay mechanics [19] Group 3: Future Developments and New Projects - miHoYo is diversifying its portfolio by developing new games, including "Xingbugudi" and "Honkai: Twine Anima," to explore new growth opportunities [18][19] - The return of "Genshin's father," Cai Haoyu, to miHoYo has generated interest in the potential for innovative game development [18][19] - The company is at a crossroads, needing to find a new balance between its established IP and new ventures to ensure sustainable growth [19]