The Chinese developer Genshin Impact doubled its revenue last year to nearly $800 million, making it one of the best-selling video games in the pandemic era.

The studio’s co-founder and president Cai Haoyu stated in an online speech that Shanghai-based MiHoYo’s sales in 2020 exceeded RMB 5 billion (approximately US$774 million), thanks to the Genshin Impact Starter Account debut of the company in September The popularity of action-adventure games. To those who are familiar with this matter. Mr. Cai told the alumni of Shanghai Jiaotong University that MiHoYo increased its number of employees by 70% last year to 2,400, and requested anonymity because the information is not public.

Genshin Impact is set in a fantasy world full of dragons and magic. Players can unlock anime-style characters and weapons by paying real money loot boxes. Although initially criticized for borrowing the Switch console from Nintendo Co.’s Zelda legend, the game has largely been welcomed by fans and critics and has been shortlisted in two categories of the 2020 The Game Awards.

According to data from the research organization Sensor Tower, in the first two months, Genshin Impact generated nearly $400 million in mobile spending by global players. The game-also available on PCs and consoles-is one of the few examples of games developed in China being promoted globally, thanks to the surge in demand for home entertainment during Covid-19 and the industry is booming.

Beginning in 2011 by Mr. Cai and two classmates from Jiaotong University, MiHoYo has won the loyal support of popular mobile products such as Honkai Impact 3rd among fans of anime and manga. The Genshin Impact Account studio told local media at the time that its 2018 revenue was close to 2 billion yuan. Executives from gaming giants such as Tencent Holdings Ltd. and NetEase Inc. praised MiHoYo as a promising competitor.

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