What PIXEL SOFT does

Beijing Pixel Software Technology Joint-Stock Co., Ltd. (北京像素软件科技股份有限公司), operating as PIXEL SOFT, is a Chinese video game developer founded in March 2002 and listed on China's New Third Board (NEEQ) under securities code 836333 since March 29, 2016. The company develops and publishes self-authored games spanning PC, mobile, TV, and console platforms, organized around three flagship IP franchises: 刀剑 (Blade & Sword), 寻仙 (Zentia), and 勇者大冒险 (Revenant Adventure), augmented more recently by 妄想山海 (Fancy World), an open-world mobile title co-developed with Tencent Games based on the Classic of Mountains and Seas. The studio builds on a proprietary 3D game engine with full-screen dynamic lighting, motion-capture from world martial arts champions, and seamless open world rendering, targeting Chinese-mythology-themed MMORPG, ARPG, fighting, action-shooter, and trading-card genres. Headcount is reported in the 101–250 range, with headquarters in Beijing's Chaoyang District.

The company's revenue model combines one-time license fees on PC standalone titles, free-to-play microtransactions and in-app purchases on mobile/online games, and IP licensing royalties to regional publishers in over 35 countries. Distribution is primarily indirect through flagship partner Tencent Games for mainland China, supplemented by Sohu (刀剑online exclusive China publisher since 2004), Ali Games (刀剑兵器谱 mobile), and an international network including Ncsoft (Korea), LAGER (Greater China), VNG (Vietnam), Godlike (Thailand), and Cubinet (Southeast Asia). Direct-to-consumer marketing runs through Weibo and WeChat official accounts plus participation in ChinaJoy, G-Star, and GDC, while cross-media IP extensions (novels on Qidian, anime on Tencent Video/Bilibili/AcFun, manga) drive user acquisition for the 勇者大冒险 franchise. The customer base is end-user gamers rather than enterprise buyers, but publisher-level concentration through Tencent anchors the majority of mainland China revenue streams.

Key competitive differentiators include the depth of Chinese cultural IP (authentic mythology, folklore, and art-film aesthetics), the breadth of the partner roster led by Tencent, and high-profile talent collaborations such as novelist Nanpai Sanshu as chief world architect for 勇者大冒险. Major verified user metrics include 3.5 million registered users for 刀剑online by April 2005, 400,000+ concurrent users for 寻仙 by November 2008, 1 million registered users within 12 hours of 寻仙手游's open beta in August 2017, 240 million hits for the 勇者大冒险 anime Season 1, and 200,000+ legal copies of 刀剑封魔录 sold globally plus a #1 ranking on Gamespot's RPG Top 10 in 2003.

Name

PIXEL SOFT

Legal name

北京像素软件科技股份有限公司

Website

https://pixelgame.net

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

101–250 employees

Short description

Beijing-based Chinese game developer founded 2002 and listed on NEEQ (836333), self-developing Chinese-mythology-themed PC, mobile, TV, and console games across three flagship IP franchises (刀剑, 寻仙, 勇者大冒险) and the open-world mobile title 妄想山海, distributed globally through Tencent Games and regional publishers.

Ownership category

akta.pro rank

Product category

Video Game Development and Publishing

NAICS

Software Publishers (51321), Doll, Toy, and Game Manufacturing (33993)

SIC

Games, Toys & Children's Vehicles (No Dolls & Bicycles) (3944)

akta.pro primary industry

Social/UGC Game Platforms with Integrated Stores (MPAFACAG)

akta.pro secondary industry

PC Digital Game Stores & Launchers (MPAFACAA)

Keywords

• Video game development
• Mobile games
• MMORPG games
• Chinese mythology games
• Action RPG games

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Game Sales - PC/Console: Pixel Soft generates revenue from PC standalone and online games through publisher partnerships. Games like 刀剑封魔录 (standalone) and 刀剑online are sold via distributors such as Sohu in mainland China. For standalone games, revenue is generated through one-time license fees per copy. Online games use a free-to-play with optional paid features model.
2. In-Game Purchases / Virtual Currency (F2P): Mobile games and online games operate on free-to-play models with in-game purchases of virtual currency, items, and battle passes. Games like 寻仙, 妄想山海, 刀剑兵器谱, and 勇者大冒险 generate ongoing revenue through microtransactions within the game ecosystems.
3. IP Licensing and Overseas Publishing Rights: Pixel Soft licenses its game IPs and publishing rights to international partners. Games have been distributed in Hong Kong, Macau, Taiwan, Southeast Asia, Korea, Japan, Europe, and North America through licensing agreements with regional operators.
4. IP Co-development Royalties: For major IP titles like 妄想山海 (co-developed with Tencent) and 勇者大冒险, revenue is shared with platform operators based on joint development and publishing arrangements.

Go-to-market motion2 records

Distribution channels13 records

Marketing channels6 records

Core offering

PIXEL SOFT is a Chinese video game developer and publisher that self-develops and publishes online and mobile games across PC, mobile, TV, and console platforms. Its portfolio centers on three proprietary IPs rooted in Chinese mythology and martial arts—刀剑 (Blade & Sword), 寻仙 (Zentia), and 勇者大冒险 (Revenant Adventure)—along with newer titles such as 妄想山海 (Fancy World). Revenue is generated through free-to-play in-app purchases for online/mobile games, one-time purchases for standalone PC titles, and IP licensing to regional publishers across 35+ countries.

Product overview

PIXEL SOFT (北京像素软件科技股份有限公司) is a Chinese video game development company established in 2002 and listed on the New OTC Market (836333). The company develops and publishes games across all major platforms including PC, mobile (iOS/Android), TV games, and consoles. Their portfolio consists primarily of self-developed titles spanning multiple genres and intellectual properties. The core product line includes: the 刀剑 (Blade & Sword) franchise spanning standalone games (刀剑封魔录, 刀剑外传-上古传说), MMO (刀剑online), and sequel (刀剑2), plus fighting game (刀剑兵器谱); the 寻仙 (Zentia) franchise covering both PC MMORPG and mobile versions; the 勇者大冒险 (Revenant Adventure) franchise including PC action-shooter, mobile TPS, and card game (英雄集结) variants; and the open-world mobile game 妄想山海 (Fancy World) based on Chinese mythology. PIXEL SOFT's games feature distinctive Chinese cultural themes including Chinese mythology, folklore, and art film aesthetics. The company maintains international distribution across Asia, Europe, and North America.

Differentiator

Problem solved

Functional benefit

Products and services

• 刀剑封魔录 (Blade & Sword) Standalone PC action RPG set in ancient China where players use sword combat techniques to fight against the ghost of Emperor Zhou. China's first action RPG, distributed internationally to Japan, USA, and Russia.
• 刀剑外传-上古传说 (Blade & Sword: Ancient Legend) Standalone PC action RPG sequel to 刀剑封魔录 featuring expanded southern environments, the full demon world realm, and new characters and gameplay mechanics.
• 刀剑online (Blade & Sword Online) MMOARPG based on Chinese mythology and historical legends with a 99-combo combat system, faction battles, and real-time formation mechanics across a Chinese fantasy world. Free-to-play with optional paid features.
• 寻仙 (Zentia) 3D MMORPG with distinctive Chinese art film animation style, based on Chinese Taoist mythology featuring eight occupations, nine ranks, and cooperative pet-riding combat with up to 25 players. Free-to-play model.
• 寻仙 手游 (Zentia Mobile) Official mobile sequel to the Zentia PC MMORPG, maintaining Chinese art film style 3D world while adapting classic gameplay including real-time combat, multiplayer instances, pet cultivation, and multiplayer riding for mobile platforms.
• 刀剑2 (Blade & Sword II) Hard-line fighting ARPG featuring an elegant apocalypse aesthetic with hard realism combat style, providing pure and intense melee combat mechanics. Published by Tencent Games with multi-region release.
• 勇者大冒险 (Revenant Adventure) ARPG third-person shooter adventure game co-created with author Nanpai Sanshu, featuring multi-terrain combat (land, sea, air), based on world civilization heritage sites and combining Metal Slug-style shooter gameplay with action RPG elements.
• 勇者大冒险 手游 (Revenant Adventure Mobile) Mobile action TPS (third-person shooter) adventure game featuring global exploration themes, weapon/skill combinations, dodging mechanics, and narrative-driven progression through world mystery locations.
• 刀剑兵器谱 (Arsenal Code) Fighting game (FTG) combined with RPG featuring an innovative Switch Weapons system allowing dual main/sub weapon combat with traditional Chinese weapons, utilizing 100,000 motion-captured actions from world martial arts champions.
• 勇者大冒险英雄集结 (Revenant Adventure Assembly) Trading card game (TCG) mobile game based on the Revenant Adventure anime IP, featuring card collection, deck building, PvP battles (1v1, 2v2), adventure mode with story stages, hero interaction/growth systems, and a peer-to-peer card marketplace.
• 妄想山海 (Fancy World) Open-world mobile game based on 山海经 (Classic of Mountains and Seas), featuring capture, riding, and cultivation of mythical creatures, home building, player trading, and seamless open world exploration of an Eastern mythology universe.
• 星际理想国/硅基宇宙 (Silicon Universe)

Quantifiable outcome

• 刀剑online achieved 100,000 CCU peak at launch in 2004, and accumulated 3.5M registered users with 400K+ paying users by April 2005.
• +4 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

18 partnerships are on record, tiered minor, core and flagship.

• 山东省艺术研究院 / 潍坊市委宣传部 / 潍坊工艺美术研究所minorStrategic or Co-development Partner · 1 January 2023妄想山海 partnered with Shandong Provincial Art Research Institute, Weifang Municipal Party Committee Propaganda Department, and Weifang Arts and Crafts Research Institute to create the 'Gaomi Three Treasures' digital intangible cultural heritage activity, integrating paper-cutting, clay figurines, and灰年画 into the game.
• 重庆市巫溪县人民政府minorStrategic or Co-development Partner · 1 January 2022妄想山海 signed a cooperation project with Wuxi County, Chongqing. The 'Secret of Shan Hai Jing: Wuxi Lingshan' plan aims to leverage Tencent's digital IP capabilities and Wuxi's rich cultural tourism resources for digital tourism transformation.
• 东来也 (Dong Lai Ye)minorGTM or Marketing Partner · 1 October 2020寻仙 partnered with Dong Lai Ye, a lifestyle brand focused on Chinese trend culture and Eastern aesthetics, for an IP crossover event.
• 国产动画《超兽武装》minorGTM or Marketing Partner · 1 August 2020妄想山海 partnered with Chinese animated series 'Super Beast Arms' (超兽武装) for an IP crossover event.
• LAGER (Taiwan)coreChannel Partner/ Reseller/ Distributor · 1 September 2017LAGER signed 勇者大冒险 PC game for Hong Kong, Macau, and Taiwan, launching on September 21, 2017.
• Hu Xiaojun (胡晓军) — Sword Casting MasterminorStrategic or Co-development Partner · 1 June 2017Hu Xiaojun, a master of sword casting, acted as a guide for weapon design in 刀剑兵器谱, providing expert input on authentic martial arts weapon representations.
• Miracle GamescoreChannel Partner/ Reseller/ Distributor · 1 April 2017Pixel Soft partnered with Miracle Games to jointly publish 刀剑封魔录之上古传说 on Windows 10 UWP store. This was among China's first Win32-to-UWP game conversions, leveraging Microsoft's desktop converter technology for distribution through the Windows Store.
• Godlike (Thailand)coreChannel Partner/ Reseller/ Distributor · 1 September 2016Godlike, a Thailand publisher, held a press conference on September 9, 2016 to announce a strategic cooperation agreement with Pixel, exclusively obtaining the agency for 刀剑2 in Thailand.
• NcsoftcoreChannel Partner/ Reseller/ Distributor · 1 June 2016Ncsoft published 勇者大冒险 mobile game in Korea starting June 27, 2016. The game topped Google Play Popularity ranking on the second day of launch.
• UNESCO / Tencent CSR ProjectminorStrategic or Co-development Partner · 1 November 2015Revenant Adventure was named the first pilot project for Tencent's Corporate Social Responsibility 'Open Traditional Game Digital Library' project co-launched with UNESCO, exploring the protection and inheritance of traditional games in an all-IP practical way.
• SNK / Metal SlugcoreOEM/ Whitelabel/ Licensing Partner · 1 November 2015Revenant Adventure obtained official authorization from the classic console game Metal Slug (SNK's hardline mobile shooting A-grade title). The original Metal Slug development team may serve as consultants, collaborating with Pixel to develop a new alloy test version of the game.
• Sony PlayStation (Sony TV Game Hall)coreChannel Partner/ Reseller/ Distributor · 1 November 2015Revenant Adventure was among the first batch of online games to enter Tencent's new TV game entertainment hall on Sony TV, expanding the IP to PlayStation console platform.
• VNG (Vietnam)coreChannel Partner/ Reseller/ Distributor · 1 November 2015VNG jointly launched 勇者大冒险 in Vietnam in October 2015, distributing the game to Vietnamese gamers.
• IQIYI / Monster Hunt Film (捉妖记)minorGTM or Marketing Partner · 1 July 2015寻仙 made a cross-border IP cooperation with the blockbuster film Monster Hunt (捉妖记), and Tencent announced cooperation with the 3D animated film Little Door Gods (小门神) for the year-end warm-hearted version of 寻仙.
• Tencent Games (腾讯游戏)flagshipStrategic or Co-development Partner · 1 March 2015Tencent Games is Pixel's most significant strategic partner, co-developing and publishing major IP titles including 妄想山海 (full IP ownership remains with Pixel), 勇者大冒险 (multi-format IP including anime, novel, games), and publishing 寻仙 and 刀剑2 in mainland China. Tencent invested in Pixel's pan-entertainment IP model, with 勇者大冒险 serving as the first global interactive entertainment industry's brand-new pan-entertainment star IP creation model.
• Nanpai Sanshu (南派三叔)flagshipStrategic or Co-development Partner · 1 March 2015Nanpai Sanshu, author of The Lost Tomb, serves as chief world architect for the 勇者大冒险 IP, providing the overarching narrative and mythology framework. He authored the Revenant Adventure novel published on Qidian.com and contributed to the anime's storyline. The IP spans games, anime, novels, comics, and film, with the novel ranking #1 in New Book Follow Amounts on Qidian.
• Tencent Animation & Comics (腾讯动漫)flagshipStrategic or Co-development Partner · 1 March 2015Pixel Soft collaborated with Tencent Animation & Comics and Nanpai Sanshu to create the 勇者大冒险 anime series. The anime premiered simultaneously on multiple platforms including Tencent Video, Bilibili, AcFun, achieving 240 million hits for Season 1. This tri-party IP creation model (Pixel + Tencent + Nanpai Sanshu) was recognized as a first-of-its-kind pan-entertainment IP model.
• Chen Kun (陈坤)coreGTM or Marketing Partner · 1 November 2013Chen Kun, a leading Chinese film actor, served as product spokesperson for 刀剑2, officially announced in November 2013. He also performed the theme song 'Warriors in Jianghu' for the game, leveraging celebrity influence for marketing.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• NetEase Games: China's second-largest game developer with massive MMORPG and mobile gaming portfolio. Comparable genres (Fantasy Westward Journey, Onmyoji) but operates at significantly larger scale as a broad incumbent.
• Tencent Games: Largest Chinese gaming platform and publisher, strategic partner of Pixel Soft. Overlaps in genres and target audience but operates at vastly greater scale as an industry incumbent that also competes for game development resources.
• Nexon: Asian game publisher with global free-to-play titles (MapleStory, Dungeon Fighter Online). Comparable in F2P business model and Asia-to-global distribution strategy.

Direct peers

• Giant Network (巨人网络): Chinese game developer focused on MMORPGs and casual games (e.g., ZT Online). Comparable mid-to-large Chinese developer with PC-to-mobile product evolution and reliance on Chinese mythology themes.
• 37Games (三七互娱): Major Chinese mobile and online game publisher with extensive portfolio of F2P titles. Comparable in F2P monetization model and mid-to-large Chinese publisher scale.
• Ncsoft: Korean game publisher that published Pixel Soft's 勇者大冒险 in Korea. Comparable as an Asian ARPG/MMO publisher with international distribution capabilities.
• Snail Games (蜗牛游戏): Chinese game publisher with international reach and ARPG/MMORPG portfolio (Age of Wushu). Operated 刀剑2 in Korea and Vietnam for Pixel Soft; highly comparable as a mid-sized Chinese developer with similar global licensing model.
• Changyou (Sohu subsidiary): Operates 刀剑online publishing in mainland China for Pixel Soft. As a Chinese online game publisher with MMORPG focus, it is both a distribution partner and a direct competitor in similar genres.
• Perfect World: Major Chinese game developer and publisher with similar profile: MMORPGs, ARPGs, and cross-platform titles based on Chinese mythology themes (e.g., Perfect World, Jade Dynasty). Comparable in scale and product mix, making it a direct peer for portfolio and revenue benchmarking.
• Kingsoft (金山软件): Chinese game developer with notable PC and mobile titles (JX Online, Sword of Legends). Comparable in scale, Chinese mythology thematic focus, and cross-platform delivery model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PIXEL SOFT