Game development begins with destroying Girls' Frontline.

Because in September and October, the entire ACG (Anime, Comics, and Games) market will experience its first real boom, with titles like miHoYo's *Honkai Impact 3*, NetEase's *Onmyoji*, and Bilibili's *Fate/GO*.

Each of them was a monster whose monthly revenue exceeded 100 million in their previous life.

Although these games are still two or three months away from release, by the end of August, the marketing and promotion had already begun even before the games arrived.

Various preview videos and articles have practically filled the eyes of the media and gamers.

And it was at this moment.

A video suddenly appeared on Xinghuo Games' Bilibili account.

A video that lasted only a few minutes, yet instantly rose to the top of the Bilibili charts.

~~~

miHoYo Headquarters

会议 室

David picked up his water glass and moistened his throat.

"Whether a project succeeds or fails is 30% determined by fate and 70% by hard work. All I can say is that we have confidence in Honkai Impact 3 internally."

Opposite David was a team of three investors from Innovation Works.

The two sides are currently engaged in investment negotiations.

David had mixed feelings about this investment negotiation.

On the one hand, he and his two other partners believed that Honkai Impact 3 had a very high probability of being profitable and a very low probability of failing.

On the other hand, the development of Honkai Impact 3rd also drained a lot of miHoYo's funds.

Without funding, the marketing and promotion of Honkai Impact 3rd will become quite difficult.

Moreover, at this current point in time.

They also didn't know which direction Honkai Impact 3 would drift.

Even to outsiders, and according to media analysis, Honkai Impact 3rd is definitely one of the best of the best.

The scene where the elevator rises and enters the game interface has sparked widespread discussion among players, and the feedback from previous tests has been quite positive.

The reservation event had only been open for a few days when the number of participants reached the target of 36, and the backend showed that the actual number of reservations was 40.

All the data suggests that Honkai Impact 3rd is just as they expected, and should be a huge success.

But the problem is.

Even if it's the safest option.

When the stakes are all of the company's cash flow, everyone is on edge until the answer is revealed.

It was under these circumstances that miHoYo's team began seeking investment.

Based on last year's revenue of nearly 100 million yuan, the company is valued at 2 billion yuan and wants to raise capital to share the risks and pressures.

“We are interested in investing, but the problem is that a PE ratio of 20 is just too much.”

Chen Yue from Innovation Works is very interested in investing in miHoYo.

However, there are some objections to this valuation.

"Furthermore, whether Honkai Impact 3 can actually achieve the massive breakthrough you mentioned... is also a question."

Dawei didn't elaborate much on Chen Yue's claim that the valuation was too high, but when it came to Honkai Impact 3, he did mention it.

He had no choice but to speak out.

"Since we're on the topic of Honkai Impact 3, I'll add a few more points to answer your two questions."

"Why are we valued at 20 billion? It's because of this product."

David put down his water glass, pondered for a moment, and said:

"Currently, the entire mobile game market is still being developed according to mobile game standards, but Honkai Impact 3 is actually being developed according to the quality of PC games, and we have done special engine optimization. Whether it is graphics, animation, or gameplay, there is a significant generational gap compared to the current mainstream mobile games."

"Before entering the game, the most attractive and important aspect of the promotional materials for players is the graphics, and there is no doubt that Honkai Impact 3's graphics will definitely attract players to download and play it."

"More importantly, in the current mobile game market, and looking at the global market, this product has no competitors."

"Therefore, I think this PE ratio of 20 is a very reasonable answer."

It must be said that what David said was actually quite convincing.

In fact, the future timeline has proven this point.

Honkai Impact 3rd has been in open beta since October 2016. As of January 31, 2017, it had accumulated more than 12 million registered accounts, with a total recharge volume of more than 500 million RMB and a monthly revenue of over 100 million RMB.

By this time, miHoYo's internal cash flow was already very healthy.

In 17, Genshin Impact was launched, and miHoYo had plans to go public in order to raise funds.

However, miHoYo soon realized that the revenue from Honkai Impact 3rd was enough to support the development of Genshin Impact, so they didn't even bother with an IPO and went all in to create Genshin Impact.

Therefore, Chen Yue of Innovation Works was at this point in time.

This was actually the last chance to invest in miHoYo.

However, neither of the parties involved, including David, felt that today's conversation was anything special; it was just a normal investment negotiation.

After explaining his argument, David asked another question.

"Well? What do you think?"

miHoYo is currently in a state of needing funding, but not so much, so it doesn't act as timidly as many company founders when facing investors.

"Um..."

Chen Yue fell silent.

Actually, the reason he's sitting here today is that he intends to vote for miHoYo.

But a valuation of 20 times earnings still makes people a little unsure.

However, even after talking for so long, he didn't leave.

This shows that he was actually wavering. There's a saying that goes, "The moment you toss a coin, you already know the answer."

However, just as Chen Yue was about to start discussing the details, another investor sitting next to him tugged at his hand, signaling him to speak alone.

Chapter 83 Impossible, absolutely impossible!!!

"Just say what's on your mind. Dawei and I are old friends, there's nothing to hide."

Hearing Chen Yue say that...

The investor sitting next to him looked at the people around him, then at Dawei, and hesitated.

But he ultimately decided to speak out:

"Um, Dawei, I wasn't trying to pick a fight. I totally agree with your opinion on Honkai Impact 3rd. I'm just wondering if you've seen the promotional video from Spark Games..."

"Spark Games?"

David frowned; he was naturally familiar with the name.

But I haven't heard anything from Lin Li's side lately.

That being said, he immediately adjusted his mindset and remained open to new information.

"You mean Spark Games, they just released a promotional video?"

The investor next to him nodded:

"Yes, just now, they showed a gameplay demo of their new game in a video, and it looks... really good, seemingly similar to Honkai Impact 3..."

David is the kind of person who doesn't like to drag things out, so he asked directly.

"Can you show it to me?"

"Of course, of course."

There's a projector in the negotiation room; you can connect it to a computer and project your screen.

The Bilibili interface was very familiar. Before the staff even clicked on the video, Dawei had already noticed that the video had surpassed one million views.

Then, the staff member familiarly opened the video and subconsciously tried to turn off the bullet comments.

"No need to turn off the bullet comments, wait for him, we need to understand the player's information."

David spoke up and stopped the action of turning off the bullet comments.

A video quickly appeared before everyone's eyes.

After the screen dims, a low, somber melody plays first.

In a good promotional video, music is definitely a plus. Before the main video even starts, the music in this promotional video has already captivated the viewer.

[Game Music: Joe Hisaishi]

The subsequent subtitles instantly sparked a barrage of comments.

"Joe Hisaishi!!!"

"Brother Rang, you're awesome!!"

"Spark Games is getting more and more awesome!"

"Indeed, indeed."

"As soon as the music starts, the feeling comes immediately."

"As expected of Joe Hisaishi, this music is truly captivating."

The overall musical style gives the impression of being historical, profound, mysterious, and miraculous.

After the music begins, a long sword appears on screen, stuck in the ground.

Then the camera slowly pans out, revealing an abandoned battlefield.

Then the logo of [Spark Games Tokyo Studio] appeared on the screen.

"Holy crap, when did Spark Games get a Tokyo studio?!"

"That's awesome."

"Spark Games has really given us a huge surprise!!"

After the barrage of comments, the logo gradually disappeared, the screen went black again, and what appeared in the center of the screen was a sentence and a hoarse male voice.

"Heroes from different eras and countries fought bravely here in search of redemption and hope."

[Game description: Gen Urobuchi]

[Copywriting Supervisor: Kinoko Nasu]

At this point, there were no scenes yet, and the game's background setting hadn't been revealed either; all that was happening was a man saying a sentence.

When these two lines of text appear.

The entire barrage of comments was like someone throwing a bottle of strong liquor into a boiling oil pan, instantly igniting the entire barrage pool.

The video visibly stutters.

The barrage of comments flowed from left to right like a flood, with no gaps between the words. All the text was mixed together, and it was impossible to understand what they were saying without careful observation.

The person playing the video frantically kept reducing the density of the comments to the minimum before they could barely see the rest of the screen.

After the text and logo are finished.

An arrow hurtled towards them from afar, but was deflected with a longsword by a blonde girl wearing a modified medieval skirt armor. The iris-shaped floral design on the skirt armor symbolized the girl's kingdom.

"I will protect my country!"

After saying this, the girl pulled out a golden flag from the ruins and waved it with her arm.

The entire shot was then covered by a golden banner, and at the same time, historical information about Joan of Arc appeared on the banner.

After the flag flashed by.

The screen then transitioned to a scene that was clearly part of the actual gameplay.

The scene from just now is frozen in time.

Then everyone was surprised to discover that the scene that looked like CG was actually not CG but a live animation.