Watch: “Black Myth: Wukong” Shatters Records

China’s gaming industry is celebrating a remarkable triumph with the action game “Black Myth: Wukong,” which has set new global sales records shortly after its release. This success is particularly notable following Beijing’s stringent regulations on the gaming sector, which had previously dampened the industry’s global aspirations.

Launched on August 20, 2024, “Black Myth: Wukong” quickly sold over 10 million copies within just three days, and by the tenth day, it continued to dominate as the best-selling game worldwide, maintaining the second spot in the U.S. by revenue on the Steam platform, where it is offered at $60 and above.

Dino Ying, chairman of Hero Games, the co-publisher and early investor in the game’s developer Game Science, shared his enthusiasm about the game’s success in a discussion with CNBC. Ying expressed optimism about the future, stating, “I think the next triple-A game is likely very close, because Black Myth: Wukong has shown everyone that a China-made AAA game can achieve such high global sales.”

Ying also revealed knowledge of at least one more AAA game currently in development, though details on its release remain undisclosed. He emphasized a global strategic approach for future game releases and predicted that international AAA game developers will increasingly design their games to cater to the Chinese market.

China’s extensive gaming market, home to 600 million gamers, presents a vast opportunity for developers. Ivan Su, a senior equity analyst at Morningstar, explained that the high costs and long development periods had historically deterred the creation of Chinese AAA games. However, he noted the substantial potential for growth, saying, “China is a big country. We’re talking about 1 million concurrent players.”

“Black Myth: Wukong” has been celebrated not only for its gameplay but also for its deep cultural resonance, incorporating elements that have broadened its appeal globally. Ashley Dudarenok, founder of China digital consultancy ChoZan, remarked on the game’s unique cultural aspects that distinguish it from Western-developed games.

Ying also commented on the game’s cultural significance, pointing out the value of leveraging historical and cultural themes that have persisted over centuries. The game developers went to great lengths to replicate designs from ancient Chinese temples to enhance the game’s authenticity and immersive experience.

The success story extends beyond mainstream hits. Independent game developers in China, such as Shanghai-based Cotton Game, are also gaining recognition and accolades, such as the 2024 award for best development team in indie games from Game Connection and ChinaJoy. Their game “Sunset Hills” was meticulously drawn by hand over five years and launched on Steam after a successful Kickstarter campaign.

Regulatory conditions in China have also improved since the stringent restrictions of 2021, with Beijing now approving new game titles and showing a more supportive stance towards the industry. Ying noted, “Personally I think in the past two years the regulation is increasingly respectful of the game industry and is beneficial to its development.”

With domestic game sales in China hitting 147.27 billion yuan in the first half of 2024 and overseas sales reaching $16.4 billion in 2023, the outlook for China’s gaming industry appears promising. This breakthrough by “Black Myth: Wukong” marks a new era, signaling significant potential for both mainstream and indie developers globally.