China’s video game market will surpass $55 billion by 2026, according to the latest Niko Partners report. Analysts expect mobile to still account for the vast majority of total revenue, with the number of domestic players reaching 730 million people.

Private VC firm Andreessen Horowitz has established Games Fund One, a $600 million fund aimed solely at video games. The company will invest in developers to contribute to building the future around the metaverse.

Saudi Arabia’s Public Investment Fund has made a big investment in Nintendo. It acquired a 5% stake in the Japanese company, which makes it the fifth-largest shareholder.

Tencent has released its financial report for the first quarter of 2022 (ended March 31). The Chinese tech giant recorded no revenue growth, citing a decrease in its domestic player base due to the latest game-related restrictions in the country.

Sony might be the next tech giant to offer its own approach to the metaverse. The company plans to evolve its gaming business and adopt a cross-platform strategy ahead of potential changes in the market.