Treabar’s animated adaptation for "Genshin Impact" has been launched, what is the value of the game IP?

Recently, the project team behind miHoYo’s “Genshin Impact” announced that it has officially launched the animation project jointly produced with Ufotable. This marks the arrival of an animated version of “Genshin Impact” for a two-year-old game, which will be made available to players. Ufotable is a renowned Japanese animation production company that has produced acclaimed works such as “Demon Slayer: Kimetsu no Yaiba.” The project manager for “Genshin Impact” stated that the animation project will maintain the game’s high-quality content and will be vigorously pursued.
In a special preview episode for the new version, “Genshin Impact” revealed the concept video for the animation project, which has already garnered over 4 million views on Bilibili. Ufotable is a well-known production company for games to anime adaptations, known for its high-quality output. Its animated film “Demon Slayer: Infinity Train” earned over $500 million worldwide in 2020 and was the top-grossing film of the year. Apart from “Demon Slayer,” Ufotable’s notable works include “Fate/Zero,” “Fate/stay night: Unlimited Blade Works,” and “Rome: X.”
Will “Genshin Impact” be able to fund the substantial investment required for future animation production and release? Taking “League of Legends: The Phoenix and the Dragon” as an example, the game’s adaptation took six years from the initial development to release, with significant investments in manpower, resources, and finances. In October 2021, Riot Games spent over $14 million on advertising, primarily for promoting the animated series “The Phoenix and the Dragon.” This figure does not include the production costs. Nevertheless, the series was a successful attempt, achieving Netflix’s global first-place ranking in its premiere month and maintaining a top-ten position globally in 52 countries and regions for three consecutive weeks, with a rare 100% positive rating on Rotten Tomatoes. After its release in China, the animated content also frequently topped Weibo’s hot topics, being praised as a “peak work in game-to-anime adaptations” and helping to introduce “League of Legends” to a broader audience.
Will “Genshin Impact” be able to fund the substantial investment required for future animation production and release? Compared to action games, “Genshin Impact,” a role-playing game (RPG), has a stronger narrative and more potential for IP content, offering opportunities for adaptation. This time, “Genshin Impact” will not be produced by miHoYo itself but will be a collaboration with Ufotable. In an interview with Caixin, Liu Xuhua stated that miHoYo is a game company, and although games and animation have some overlap, they are fundamentally different production lines. Not only is miHoYo, but most of China’s games are also produced by professional animation companies. He believes that miHoYo is mainly interested in Ufotable’s production capabilities.
“Genshin Impact” has been in operation since September 28, 2020, and can be considered to have an IP lifespan of less than two years, but it has already become one of the most successful mobile games in the history of anime, with significant IP influence. In China, “Genshin Impact” has over 6 million followers on Weibo and over 13 million on Bilibili. In the overseas market, the number of followers on YouTube has surpassed 5 million, with the highest video views reaching 300 million. “Genshin Impact” has also released several short animated clips related to the game, all of which have received positive feedback. For instance, the video “Divine Woman Slash” has over 260 million views on Bilibili, and “Winter’s Fool Play” has over 110 million views. The animated short “Winter’s Fool Play” has over 100 million views on YouTube, and many players have asked if longer animated works will be produced in the future. “The reactions and support from the players have exceeded our expectations,” stated the relevant team member.
In IP management, “Genshin Impact” has been actively expanding its influence in various dimensions, including the release of serialized comics, development documentaries, and the launch of an original music