China Plans Major Crackdown on Excessive Spending in Games - Video Page

By Mazen (Mithrie) Turkmani
Published: December 22, 2023 at 10:52 AM GMT

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Video Creator: Mazen (Mithrie) Turkmani
Posted: Dec 22, 2023

Video Transcript

Insomniac Games have released a statement in response to the recent hacking of their studio. They wanted to thank everybody for their unwavering support, but also express sadness and anger at the recent cyberattack. They also stated that Marvel's Wolverine is still in the early stages and will evolve over time. Hopefully, this event will not set them back too far. Are you looking forward to Marvel's Wolverine? And the next bit of news for today is the release date for South Park Snow Day has been announced. The game will be releasing on the 26 Mar 2024 on PC, PlayStation, Xbox and Nintendo Switch. THQ Nordic have also announced a Collector's Edition if you're interested as well. Do you play South Park games? And the last bit of news for today is China is proposing new limitations on spending in games. The new regulations would see incentive bans such as not allowing daily login rewards anymore. Also to remove the idea of lucky draw, which is equivalent to loot boxes, which is gambling aimed at minors. The National Press and Publication Administration has sought public feedback which will go on until the 22 Jan 2024. This announcement has resulted in Tencent, which is the biggest gaming company in the world, to lose 16% of its share price, recovering to a 12% loss and also NetEase to lose about 25% of its share value. I think the concept is a good thing and should be introduced to Western countries as well to curb the uncapped spending of some players. Do you think regulators have a responsibility to curb people's spending when it comes to video games?

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China Plans Major Crackdown on Excessive Spending in Games

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Mazen (Mithrie) Turkmani

I have been creating gaming content since August 2013, and went full-time in 2018. Since then, I have published hundreds of gaming news videos and articles. I have had a passion for gaming for more than 30 years!

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