The project has reportedly been in development since 2022 but is making slow progress.
Tencent is working on a mobile version of Elden Ring after securing the licensing rights from developer FromSoftware in 2022.
That's according to a report from Reuters, which claims Tencent is hoping to bring the title to smartphones by turning it into a free-to-play experience with in-app purchases.
It's claimed Tencent is hoping to mimic the success of Genshin Impact. Sensor Tower estimates the open-world action-RPG has earned billions of dollars for rival studio MiHoYo, so it's not hard to imagine why Tencent wants to find a competitor.
Three people familiar with Tencent's unannounced Elden Ring project said the company allocated a few dozen people to develop a prototype in 2022, shortly after it bought a 16 percent stake in FromSoftware. Progress, however, has reportedly been slow.
Tencent and FromSoftware didn't respond when approached for comment by Reuters.
Elden Ring sold 20 million copies during its first year on shelves and was inundated with awards. The project was spearheaded by FromSoftware boss Hidetaka Miyazaki in collaboration with George R. R. Martin and successfully pulled the souls-like genre into a fully open-world.
Tencent has seemingly tried and failed to bring another major franchise to smartphones in recent years, with another Reuters report indicating the company recently scrapped an unannounced Nier mobile game that had been in development for two years.
It was suggested that a rights dispute with Square Enix was a major sticking point for Tencent, and ultimately resulted in the Chinese company abandoning its Nier adaptation.
Tencent remains one of the most influential companies in the game industry. Yet, despite purchasing and investing heavily in major studios like Epic Games, Riot Games, Remedy, and Techland, company CEO Pony Ma recently told onlookers at Tencent's annual meeting that it felt like the conglomerate's game business "achieved nothing" in 2023.
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