At a speech at the Beijing International Esports Development and Innovation Conference on October 22nd, Pun Guannan, the Vice President of FunPlus, explained in detail how FunPlus is going to shape its esports ecosystem and how FunPlus will focus on the development of the Chinese domestic market.
FunPlus was founded in 2010 and centered its business on distributing game titles, such as King of Avalon, to overseas markets. FunPlus’ business covers more than 200 countries and regions, earning itself a fanbase of millions of gamers. Ranking first on App Annie’s 2020 Chinese Developer Overseas Revenue List.
In 2017, FunPlus introduced its esports team FunPlus Phoenix (FPX). The team is now considered as one of the world’s most successful esports teams, with their crowning title thus far being the 2019 League of Legends World Champion.
Pu Guannan believes that China is currently a pioneer when it comes to the esports industry. To strengthen FunPlus’ local presence, FPX has established several departments for titles such as Identity V, Call of Duty: Mobile, Counter-Strike, VALORANT, and League of Legends: WildRift. In the meantime, FPX will focus on integrating different media forms, establishing crossovers with animation and virtual idols to form an esports ecosystem.
Pu Guannan said FunPlus is looking into the potential of the Chinese domestic market as well. FunPlus has set up FunPlus Huyu this year to focus on four major business segments including esports, culture, games, and investment. In terms of its R&D, FunPlus has acquired several new studios recently, including Imagendary Studios, led by former Blizzard Principal Artist Wang Wei. Pu said FunPlus currently is focusing on the genres of sandbox and open-world. It is worth noting that FunPlus led a 30 million USD funding this July for Singularity 6, the developers behind the “community simulation MMO” Palia.
Pu believes the key to tackling the Chinese market is to provide an immersive experience that combines cultural identities with contemporary consumption patterns. FunPlus will continue to focus on projects with immersive elements.