MiHoYo

Biodata

Feature	Information
Name	MiHoYo (米忽悠)
Alias(es)	MiHoYo Studio
Type	Game development studio
Founder	Youlan / Durandal 1 55
Affiliation	Mo Li, owner and CEO 3 420
Occupation/Role	Developer and publisher of games, animated media, merchandise, and related technology projects
Status	Active 976
First Appearance	1

Background and History

MiHoYo was founded by Durandal at the beginning of 2021. Its first release was a two-dimensional tower-defense game using the world's subscription model; more than half a year after launch, it had failed to recover its development costs and left the studio on the verge of closure. 1 55

Mo Li identified MiHoYo as an acquisition candidate, valuing its existing staff and potential over the effort of creating a new studio from scratch. The acquisition was finalized, the studio was registered under his name the next day, and Durandal's entire team remained as MiHoYo employees. 1 3

Under Mo Li, the studio released Honkai Impact 3rd, with employees contributing voice acting, event planning, and side-story stages. He later transferred one percent of the company’s shares to each employee, crediting their likenesses as a major reason for the game's success. 23 34

The studio's rapid expansion made it a major force in the industry. Within months of its acquisition, its valuation reached hundreds of billions; after the success of Honkai Impact 3rd and Genshin Impact, it became internationally recognized as a leading game company. 55 420

Games and Major Projects

Project	Type	Notes
Saving Girl	Tower-defense game	An early MiHoYo project that later entered profitability. 1 73
Honkai Impact 3rd	Action game	MiHoYo's breakthrough title; supported by continual story chapters, character releases, events, animated shorts, and new modes such as Post-Honkai Odyssey. 3 76 217 226
Genshin Impact	Open-world game	MiHoYo's second major title, noted for its cel-shaded visual style, global popularity, and regional updates including Inazuma and Sumeru. 49 73 274 822
Honkai: Star Rail	Game	Received an open beta and launch rewards including 100 pulls at launch and 20 from pre-registration. 579 587
Paper Dolls	Single-player horror game	Quietly launched without promotion despite expectations that MiHoYo would heavily publicize a new title. 629
Black Myth: Wukong	AAA game	Announced as an adaptation of Journey to the West and described as the world’s first AAA game masterpiece. 719
Elysium Everlasting	Amusement park	A MiHoYo-developed theme-park project built around the studio's major franchise setting. 684 895

Development Practices

Character-Template Production

MiHoYo frequently uses real people—especially its employees—as templates for game characters. Their in-game appearances and personalities can closely mirror their real-life counterparts, a feature that became a major part of the studio's appeal. 29 138 257

• Employee templates were central enough to Honkai Impact 3rd's success that Mo Li awarded eligible staff one percent of the company’s shares. 34
• The studio avoids reusing templates; players note that its characters are designed as distinct individuals. 257
• Employees have been used as templates across multiple projects, including Mei as the Raiden Shogun and Mo Li as the feminized protagonist of Post-Honkai Odyssey. 144 218 738

Game Design and Monetization

MiHoYo adopted a free-to-play model with in-game purchases for character cards, weapons, and Stigmata, diverging from the subscription-based and buy-to-play models prevalent when it began. 5 224

• The studio releases substantial story content, modes, and characters for free rather than relying solely on aggressive gacha monetization. 224 226
• It publicly advised players not to spend excessively on an aging S-rank Valkyrie, prioritizing long-term reputation over immediate sales. 46
• Post-Honkai Odyssey was released as a free mode within Honkai Impact 3rd despite its new rendering, story, characters, and gameplay systems. 225 226
• MiHoYo's version promotions commonly combine character PVs, animated shorts, music, gameplay footage, and livestreams. 65 226

Visual and Technical Standards

MiHoYo's 3D anime and cel-shaded rendering are repeatedly identified as a key advantage over competing studios. Its work combines three-dimensional depth with a two-dimensional aesthetic, while later productions use advanced cartoon lighting, shadows, and outline rendering. 49 819

• Its PVs and animated shorts are credited with influencing game, music, and film production standards in the wider entertainment industry. 65 694
• MiHoYo operates with a relatively small staff because much of its work is AI-assisted. 893
• The studio opened the usage rights for Unreal Engine 5 tools used for Black Myth: Wukong and publicly stated that it hoped game developers would progress together. 747

Industry Conduct

MiHoYo's rivalry with Tencent defined much of its early rise. Tencent attempted to imitate Honkai Impact 3rd and released Maiden Voyage, but MiHoYo successfully sued after its code—including embedded MiHoYo logos—was copied. The ruling forced the competing game to cease operations, pay compensation, and issue a public apology. 13 46

The studio actively cultivates goodwill with players and competitors.

• It turned player backlash over Honkai Impact 3rd's story into renewed support by maintaining its planned narrative rather than altering it under pressure. 20 23
• It publicly promoted Kuro Games' War Double during a delayed Genshin Impact update, driving a major increase in the smaller studio's followers and player interest. 274 275
• It defended Tencent's role in improving industry competition despite their past conflict, arguing that competition would lead to more high-quality games. 236
• MiHoYo temporarily suppressed its own online hype and publicly cleared Tencent and NetEase of accusations that they had done so. 623

Merchandise and Collaborations

• Qiancheng Fashion — Produced character-based cosplay outfits and Valkyrie Armor merchandise with MiHoYo; the collaboration sold out rapidly both domestically and overseas. 73 126
• Yu Jing — Signed a collaboration contract for a Genshin Impact event and later released a MiHoYo-themed collaboration phone. 330 362 443
• Physical rewards — Distributed large-scale merchandise rewards, including acrylic standees, hanging scrolls, postcards, figurines, weapon models, and limited Valkyrie Armors. 634
• Firefly Armor Type II — Developed a real manned mech based on Honkai: Star Rail imagery. Mo Li provided its technology and research data to the Ministry of Defense without charge, provided that it be publicly credited as his design. 896 900 912

Relationships

• Mo Li — Owner, CEO, producer, and the figure responsible for acquiring and transforming MiHoYo. 3 47 420
• Youlan / Durandal — Founder of MiHoYo who retained her place at the studio after its acquisition. 1 3
• MiHoYo employees — Core staff, largely composed of women whose likenesses are used for the studio's characters; they contribute to voice acting, planning, and production. 23 223
• Eden — Supporter and collaborator who publicly defended MiHoYo during the controversy surrounding Himeko's story and contributed to the studio's success. 22 225
• Tencent — Major competitor; copied MiHoYo's work, lost a plagiarism lawsuit, and later became part of the industry competition MiHoYo publicly acknowledged. 46 236
• Kuro Games — Smaller game studio supported through MiHoYo's public promotion of War Double. 274 275
• Yu Jing — Corporate partner for in-game events and a MiHoYo collaboration phone. 330 362 443
• Ministry of Defense — Recipient of the Firefly Armor Type II and associated research data for military development. 900 912

Notable Quote

“We are both people who love games, why don't we cooperate and create a game that the whole world will love and pay for?”
— Mo Li to Durandal 225