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VALORANT

VALORANT- the new billion-dollar franchise from Tencent

VALORANT is a new game from Riot Games. The game was just released on Tuesday.

Similar to the League of Legends game, a VALORANT match is formed of two teams of five players, called agents. Every agent has special abilities that players can use to help the team out.

Plus, this game is very important for Tencent. It is their first game to feature a new IP entirely. That simply put, VALORANT is not part of the League of Legends universe.

Another thing worth mentioning about the new game from Riot Games is that it gained popularity even when still in the beta phase. About 3 million players were joining the beta version of the game daily. This is fantastic news. Plus, the beta key drop campaign on Twitch had great success. Players used to watch the VALORANT gameplay for hours in hopes of getting the key.

Here is what Will Hershey, the CEO of Roundhill Investments, had to say about Tencent’s acquisition of the Riot Games:

″[Tencent’s] investment in Riot Games might be its best investment yet,” he told CNBC. “In fact, one could make the case that Tencent’s acquisition of Riot is among the best tech acquisitions of all time.”

This surely proves the huge success Riot Games had so far.

Here is what Michael Pachter, a Wedbush analyst, has to say about the new game:

“This is a growth industry, but a zero-sum business,” he said. “If overall free-to-play is growing 10% on a $40 billion base, there’s $4 billion available for VALORANT to capture. But it’s competing with [Call of Duty] Mobile, Warzone, Diablo Immortal, and anything else that’s going to launch this year, in addition to growth from the existing competitors.”

“It’s hard to cede $1.5 billion to VALORANT without someone else growing more slowly, and I don’t think we can assume that the shiny new object captures all of the industry growth,” added Pachter.

However, the great success VALORANT had during the closed beta phase is just mindblowing.

Riot Games co-founder Marc Merrill shares the goal for the new first-person shooter game:

“We want to make VALORANT the first truly global shooter. We created a global community with League of Legends, and we’re confident we can repeat [that worldwide success] with VALORANT.”

About Patricia W. Vandoren

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Patricia W. Vandoren started working with the team at Feed Ride as a content writer with knack for news from different parts of the world expanding over various verticals. Now she detects potential tech trends and worthy subjects.

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