Tencent's New Console Gamble: Can 'Last Sentinel' Redefine Future Gaming?

Tencent Holding Ltd TCEHY is taking a significant step in its global expansion by introducing "Last Sentinel," an ambitious console game set in a dystopian future in Tokyo. 

Developed by Tencent's Lightspeed LA studio in California and led by industry veteran Steve Martin, formerly of Rockstar Games, "Last Sentinel" represents Tencent's foray into developing original intellectual properties, Bloomberg reports.

Having been in development for four years, "Last Sentinel" underscores Tencent's efforts to broaden its influence beyond the Chinese gaming market, which heavily relies on domestic sales. 

Also Read: Tencent Misses Revenue Forecasts In Q3, But Diversified Revenue Streams Lead to Higher Profits

The company owns significant stakes in internationally recognized studios such as Riot Games Inc RIOT and Epic Games Inc and has recently increased its acquisitions of smaller studios worldwide.

Steve Martin emphasized the gaming community's desire for new IPs and characters, which "Last Sentinel" aims to deliver. 

While the launch date remains unannounced, the debut trailer has been released, featuring the protagonist Hiromi Shoda and showcasing gameplay elements.

Tencent's Lightspeed Studios, known for the success of "PUBG Mobile" and "Peacekeeper Elite," aims to diversify its portfolio by focusing on different game genres like open-world and shooters. Jerry Chen, President of Lightspeed Studios, is actively recruiting global talent to lead the studio in these genres. Tencent continues to make significant strides in the worldwide gaming industry with its diverse international investments.

Price Action: TCEHY shares closed lower by 0.33% at $39.55 on Thursday.