Tencent has Invested in Grinding Gear Games

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Rusery wrote:

So i guess MTX sales are down? Its likely true that the company as it is expanding can't possibly rely on selling stash tabs. Going to guess salaries are up there now and not to mention you need to make John/Erik rich too on top of it all.

Overall there isn't much to worry about here, but it is fishy that they signed the entire company over at 51%. This essentially means there is a clause somewhere in that contract of acquisition that ensures Tencent can make and change whatever they want. GGG is literally banking on their word here. It could also mean as little as Tencent wants majority so they can take this game and rehash it 10x as a P2W in China and other places and bank on it.

I thought they said that GGG had full control over their IP as long as they report their income to Tencent only? that's a far cry from Tencent making all the decisions, not in the case of LoL for instance, where they left well enough alone, and in fact made it a bit less p2w over the years than it used to be.

well, as i have said before, its not GGG i dont trust. as long as tencent keeps their grubby little hands out of the developmental part of PoE, i will continue to play and support it to the level i have been, if not more. as soon as there are signs that tencent is affecting development i quit

i dislike that they have a majority stake.. regardless of what others under their thumb have said about the past

I suddenly feel much less interested in buying any support packs or mtx now..

I liken't this news very much. So we have started watching of POE falling.

Let's check the comments. I'm sure folks are expressing their concerns and debating each other respectfully and with courtesy.

*reads comments*

To the feeding trough with you lot.

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ExiledToWraeclast wrote:

I thought they said that GGG had full control over their IP as long as they report their income to Tencent only? that's a far cry from Tencent making all the decisions, not in the case of LoL for instance, where they left well enough alone, and in fact made it a bit less p2w over the years than it used to be.

I am still chuckling at how naive and easily deceived some people can be. It's not all your fault, as Chris did a good snow job here on the community. Aside from Chris's damage control announcement here, along with the PR game of "investment" instead of the "acquisition" that actually happened, the fact remains that Tencent now owns GGG.

It's beyond a "controlling stake" (largest chunk), and beyond "majority shareholder" (more than 50%). We're talking 80%. Chris now has 13.something percent shareholdings in GGG. You can find this information online with the New Zealand government. It's no longer owned by Chris and its founders. Instead it's a Tencent company with Chris and team managing it. So if Tencent doesn't like something, no amount of agreements on paper can stop Tencent from forcing their every whim on GGG.

The 80% ownership and the fact that someone from Tencent officially registered themselves as "director" of GGG (Chris is also a "director") means that nothing said in this announcement by Chris holds any real legal weight when push comes to shove. Only time will tell whether Tencent lets Chris and his team manage GGG without their interference. But if you look at other developers Tencent acquired, you'll see that eventually Tencent will push its will through in the end.

Not happy :(

Not that I ever bought that much ... only the p2w stuff like more/special tabs ...

This certainly won't happen again though, I will not support Corporatocracy when I can help it. Lying straight to my face like that just cements my decision. You were bought, not "invested" in.

If Tencent would actually be a productive entity, and not just leech off of other peoples success... a fucking money making machine for the lazy rich cunts ... then I might have been a little less offended.

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ExiledToWraeclast wrote:

I thought they said that GGG had full control over their IP as long as they report their income to Tencent only? that's a far cry from Tencent making all the decisions, not in the case of LoL for instance, where they left well enough alone, and in fact made it a bit less p2w over the years than it used to be.

And when GGG's financial reports don't show Tencent a return on their investment?

I'd also like to address the 'other games Tencent owns'. LoL for many years was THE most played game in the world (and is still relatively active); it's a game which has a very broad appeal. Fortnite BR is another example of mass appeal and low-entry. This is something every publisher aims to capture.

PoE is not LoL. It's a niche game in a niche genre. ARPGs do not appeal to a wide long-staying audience and PoE doesn't set a low bar for those who would try it out. This has been a community-driven game and has received much financial support from that community. A lot of people have voiced they won't support GGG further - That should be a concern. It's not a death sentence but it isn't trivial either.

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cipher_nemo wrote:

The 80% ownership and the fact that someone from Tencent officially registered themselves as "director" of GGG (Chris is also a "director") means that nothing said in this announcement by Chris holds any real legal weight when push comes to shove. Only time will tell whether Tencent lets Chris and his team manage GGG without their interference. But if you look at other developers Tencent acquired, you'll see that eventually Tencent will push its will through in the end.

maybe chris and team will eventually divest and create another ip better than poe.

-HeaT