Tencent is adapting the action role-playing console game Elden Ring into a mobile game to revitalize its aging game portfolio. In 2022, Tencent secured licensing rights from Japanese game developer FromSoftware and formed a team to develop a prototype. The same year, Tencent acquired a 16% stake in FromSoftware, but progress on the adaptation has been slow. Tencent aims to offer the mobile version of Elden Ring as a free-to-play game with in-app purchases, similar to miHoYo’s popular game Genshin Impact. Elden Ring, released in 2022 for $60, sold around 20 million copies in its first year, ranking as the world’s second best-selling game in 2022. Additionally, Elden Ring received the Game of the Year award at the Game Awards 2022, a prestigious ceremony recognizing the best video games of the year.[[Reuters]