朱敏 腾讯研究院博士后 胡璇 腾讯研究院高级研究员 "能和你换张卡吗？"一句话让几个来自天南海北的年轻人，迅速熟络了起来。 在北京鸟巢举办的王者荣耀职业联赛2025总决赛现场，观众间看似平常的换卡行为 （印有选手形象的收 藏卡，兼具收藏价值与社交货币功能） ，成为理解电竞经济的一把钥匙。 基于共同兴趣的强连接构成了电竞消费的底座，并转化为可量化的宏观数据。门票在12秒内售罄，85% 以上观众来自外地乃至海外。赛事更以62,196名现场观众创下"最多观众的单场电竞赛事"吉尼斯世界纪 录。涟漪效应扩展至城市空间，周边酒店接连客满、多家商场主动延长营业时间，共同承接这股由电竞 引爆的消费浪潮。年轻观众从全国各地奔赴而至，热情不仅聚焦于赛场内的竞技对决，更投向一个融合 观赛、社交与在地消费的复合型体验场景。 这些现象共同印证一个核心事实：电竞价值已经超越赛场胜负，外溢至更广阔的社会经济领域。以此次 赛事为镜，可以清晰梳理出电竞产业的三种价值外溢路径： 作为前沿技术应用的新底座、作为激活消费 的新引擎、作为促进文化交流的新纽带。 这引出一个更深层的追问：驱动电竞持续生长并产生巨大现实 影响力的内生动力是什么？回答这一问 ...

马斯克又整活儿了，这回要让 Grok 直接上场打 LOL（英雄联盟）。或许 Faker 大战人机的戏码要在明年上映了。 11月 25 日，马斯克在 X 上发布了一则"挑战书"，要让 Grok5 在英雄联盟游戏中挑战人类顶尖战队，这或许是历史上首次 AI 与人类的 5v5 的大型对线。 01 但这个活儿其实并没有那么新，前有柯洁被"道心破碎"输给 Alphago，后有 OpenAI 在 dota 2 赛场1V1 完虐职业选手。但是老马还是老马，他给 Grok 加了 以下两个非常关键的限制因素： 既然人机大战来了，我们不妨看看这场挑战到底难点在哪，Grok5 要想让人类一败涂地，需要具备怎样的能力。 1.只能通过摄像头观看显示器，所看到的内容与视力为 20/20（对应国际标准约为 1.0） 的人所看到的内容相同。 第一，便是极致的端到端视觉感知能力 (End-to-End Visual Perception) 这是与过去的游戏AI（如OpenAI Five打Dota 2或AlphaStar打星际2）最大的不同。 2.反应延迟和点击速度不能比人类快。 这需要高精度的实时图像分割与识别： AI必须像人类一样，从纷乱的 ...

Dylan Jadeja与拳头游戏的缘分，始于一场并不完美的《英雄联盟》对局。 很多年前，经由同事Dustin Beck引荐，当时还在华尔街工作的Dylan认识了其兄长、拳头联合创始人Brandon Beck。他至今仍记得第一次在拳头办公室和 Beck兄弟一起打游戏时的场景。"但我当时玩得很烂"，他笑着回忆。 从那场对局，到2011年正式加入，再到2023年成为全球CEO，Dylan的人生轨迹与这家公司深度绑定。 2025年11月9日，英雄联盟全球总决赛的后台，Dylan在专访中，反复提及自己的幸运。"在拳头，我们有幸能为数以亿计的玩家服务，"他说，"这是一种 真正的荣幸……我很幸运能成为其中的一部分。" 那份源于玩家的热忱与赤子之心，在他身上从未改变。这或许是我们理解拳头游戏，最好的一个切片。 何为《英雄联盟》 每年秋天，都有一座"看不见的城市"，在全球巡游。 2025年11月9日的成都，便是这样一幅景象。东安湖体育公园外，从未出现过这么多肤色各异的年轻面孔，有举着"Faker"灯牌、高声呼喊的，有脸上涂满 战队油彩、激动得满脸通红的；英语、韩语和带着川渝方言的普通话，交织在一起。我们身边的安保人员，会微笑 ...

Core Insights - The 2025 League of Legends World Championship finals held in Chengdu has sparked a cultural and tourism boom, showcasing the city's ability to transform event traffic into tourism growth and drive integration across various industries [1][2] Group 1: Event Impact - The finals attracted over 11,000 spectators, with 85% from outside the province and 10% from abroad, while secondary viewing points drew nearly 120,000 participants [3] - The event generated over 270 million yuan in various consumer spending, including transportation, accommodation, dining, shopping, and attractions [4] Group 2: Strategic Development - Chengdu has a strong history with esports, having hosted multiple major events, and is now recognized as a national esports hub, ranking second in offline event hosting after Shanghai [5] - Sichuan province has implemented policies to support the deep integration of culture and tourism, aiming to attract international events and enhance local economic benefits [5][6] Group 3: Community Engagement - The city has created an immersive experience by involving supermarkets, hotels, and cultural venues, offering free shuttle buses and translation services to enhance visitor experience [6]

Core Insights - Chengdu has established itself as a hub for esports, hosting major events like the KPL and League of Legends S15, attracting millions of visitors and creating a vibrant esports culture [1][3][10] Group 1: Esports Events and Cultural Integration - The recent esports events in Chengdu, including the KPL finals and the League of Legends S15, have significantly boosted the city's profile as a premier destination for esports enthusiasts [1][3] - Chengdu's integration of esports with local culture and tourism has made it a favorite among young people, transforming the city into a "youth-friendly" environment [3][4] - The city has seen over 1 million visitors during the International Digital Cultural Season, showcasing the strong connection between esports and local cultural experiences [6][10] Group 2: Economic Impact and Consumer Behavior - The influx of esports fans has led to a notable increase in local consumption, with hotel bookings near event venues rising by 50% during the S15 finals [12][14] - Data indicates that during the esports event period, searches for related services like gaming cafes and accommodations surged by over 120%, reflecting the economic benefits of hosting such events [12][14] - Chengdu's esports ecosystem has attracted over 200 million online viewers and more than 200,000 offline attendees for various events in 2024, highlighting its growing significance in the esports industry [14][16] Group 3: Industry Development and Opportunities - Chengdu is home to over 300 gaming and esports companies, making it one of the earliest cities to develop a robust esports industry in China [16][20] - The city has implemented supportive policies for the digital cultural industry, including a comprehensive policy package aimed at fostering growth in esports and related sectors [22] - Chengdu's digital cultural industry is projected to reach a core scale of 3.819 trillion yuan by 2024, indicating a thriving environment for innovation and entrepreneurship [20][22]

Core Insights - The 2025 League of Legends World Championship, hosted by Huya HYPER X, has generated significant excitement in Chengdu and Guangzhou, with over 16,000 attendees witnessing T1's unprecedented third consecutive championship victory [1][4][13] Event Overview - The event marks the 15th anniversary of League of Legends, featuring intense competition culminating in a championship match between KT and T1 in Chengdu [4] - Huya's collaboration with League of Legends has led to the organization of three viewing parties in Chengdu and Guangzhou, leveraging the global finals' return to China [4][12] Celebrity Engagement - The event featured popular esports team iG, well-known streamers, and musicians, attracting attention from both the esports and music communities, thus promoting cross-industry interaction [5][8] - Interactive activities included fan engagement with iG players and performances by artists, enhancing the overall atmosphere [5][7] Local Cultural Integration - The Chengdu viewing party incorporated local elements such as themed parties and creative activities, providing a unique experience that blends esports with local culture [8] - In the Greater Bay Area, the event showcased local traditions and cultural interactions, merging esports with regional heritage [10] Innovative Event Structure - The event transformed traditional viewing into a multi-dimensional celebration, combining esports, cultural activities, and entertainment, thus setting a new standard for urban esports events [12] - Huya's approach emphasizes the integration of esports with local lifestyle, aiming to boost the local economy and cultural tourism [13]

Core Insights - The esports industry in China is experiencing significant growth, with a reported revenue of 12.76 billion yuan in the first half of 2025, marking a 6.1% year-on-year increase, and a user base nearing 493 million, up by 0.59% [1] - The esports sector is increasingly recognized for its ability to enhance cultural offerings and stimulate diverse consumption, with a 1% increase in esports revenue correlating to a 0.47% rise in video game revenue and a 0.076% boost in GDP [2] - The industry is undergoing a transformation as early-stage capital withdrawal has led to unclear profit models, causing some esports clubs to face operational challenges [1][2] Industry Development - Jiangsu province is exploring the development of an event economy through esports, focusing on empowering and driving the physical economy [2] - The esports market in China is projected to exceed 300 billion yuan by 2026, potentially driving surrounding industries to surpass 1 trillion yuan [8] - Suzhou has established itself as a hub for the esports industry, with a strong foundation in digital products and precision manufacturing, leading to a deep integration of esports with local industries [9] Club Operations and Profit Models - The Hero Jiuqing Club in Nantong has adopted a multi-faceted operational model, moving away from reliance solely on prize money, which has proven insufficient for sustainability [5][6] - The club has successfully attracted over 10,000 visitors through various events, significantly boosting local commerce [5] - The club's IP character "Jiujiang" has garnered over 200,000 registered users, contributing to the development of a fan economy [6][7] Fan Engagement and Experience - Fans are willing to spend significantly on live events, with one attendee reporting expenses nearing 3,000 yuan for a single event, including tickets, travel, and merchandise [4] - The club's ticket sales are highly successful, with tickets priced at 220 yuan selling out within 20 minutes, indicating strong demand among younger audiences [7] - The club engages fans through various activities, including meet-and-greets with players and exclusive merchandise sales, enhancing the overall fan experience [4][7] Future Prospects - The esports industry is expected to continue evolving, with clubs needing to remain agile in identifying and nurturing new gaming trends to stay competitive [7] - The integration of esports with other sectors, such as AI and hardware manufacturing, is seen as a pathway for further growth and innovation within the industry [10][11] - Local governments are providing financial support and incentives to attract esports clubs and startups, fostering a conducive environment for industry expansion [11][12]

抄底了一点 T1，目前 KT 2:1 T1输了就当为自己喜欢的战队买单了。我大概是 S3 开始玩英雄联盟的，Faker 就是我小时候心目中的神，那时候崇拜一个人也很纯粹，就只是觉得 Faker 玩劫很秀，然后觉得 Faker 这个名字很装逼很酷。12 年后我长大了，Faker 还继续在台上争夺冠军。这 12 年来 Faker 不换战队、不分心、不炒作流量、保持低调和谦虚。我崇拜 Faker 好像也不再是他操作多牛逼了，我崇拜的是一个能把自己热爱的事情做到极致并且长期坚持的人。 ...

Core Insights - NetEase is further reducing the size of its internal development teams, including the closure of the Fantastic Pixel Castle studio [1][3] - Fantastic Pixel Castle, established in 2023 and led by Greg Street, was developing an original fantasy MMO titled "Ghost" [3] - The studio is seeking new funding but faces challenges in securing investment for large MMO projects [3] Company Developments - Greg Street announced that Fantastic Pixel Castle plans to close on November 17, while expressing hope for potential funding opportunities [3] - The studio's closure follows a trend of NetEase withdrawing investments from several overseas studios, including Worlds Untold, Jar of Sparks, and Ouka Studio [4] - Earlier in February, Street had expressed optimism about the studio's ability to avoid layoffs, indicating that their game was considered a priority by NetEase [4]

Core Insights - The 2025 League of Legends World Championship Carnival will be held in Shanghai from November 1 to 2, showcasing one of the largest esports events globally [1] - The event will feature top teams from around the world competing for the championship title, highlighting the competitive nature of the esports industry [1] - The two-day event aims to provide an immersive offline viewing experience, combining spectator engagement with urban scenery [1] Industry Summary - The League of Legends World Championship is recognized as a major event in the esports sector, attracting significant global attention and participation [1] - The integration of interactive elements and city landscapes in the event reflects the industry's trend towards enhancing audience experience and engagement [1] - The carnival format indicates a growing emphasis on live events in the esports industry, which may drive further investment and interest in esports as a mainstream entertainment option [1]