The main thing for the weekend (July 2-3)
Google is backing down from American developers, the authors of Genshin Impact are suing a Chinese state—owned company, in the Netherlands they propose to ban loot boxes – we tell you what happened in the gaming industry this weekend.
Google will pay $90 million to settle a lawsuit with American developers accusing the company of monopoly and charging an “unfair commission” of 30%. The right to compensation will be awarded to American developers who earned less than $2 million a year from 2016 to 2021. This was reported by the law firm Hausfeld.
▫️Samsung Gaming Hub has been released. This is a cloud playground for Samsung TVs. It allows you to run Xbox Cloud Gaming, Nvidia GeForce Now, Google Stadia services on TVs without buying consoles or set-top boxes. Simply put, with a new Samsung TV and Xbox Game Pass, you can play Halo Infinite without having either an Xbox or a computer.
▫️miHoYo Technology (Genshin Impact) and Lilith Games (Rise of Kingdoms) have sued the trust daughter of China Minmetals, a Chinese state-owned company specializing in the supply of minerals. Game developers have questions about how the company manages their assets. We can talk about the loss of $ 340 million.
Representatives of six political parties in the Netherlands have proposed a bill that prohibits the use of gambling mechanics in video games, which they also include loot boxes. Officials believe that in such projects we are talking about manipulating children, that they are being pushed to make micropayments. The law has every chance of being adopted by the local government.
A large hedge fund Three Arrows Capital, which specialized in investments in blockchain projects, declared bankruptcy. Founded in 2012, the fund managed assets worth $10 billion last year. Against the background of the current decline in cryptocurrencies, it fell to $3 billion in April. Now, during the liquidation of the property, the fund is trying to save at least some of the clients’ funds. Previously, he was considered one of the key investors in the market of cryptocurrency projects. He has invested in such crypto-gaming projects as Axie Infinity, Crypto Raiders, Ultiverse, Imperium Empires and others.
