Many of miHoYo's early games center around anime schoolgirls battling hordes of zombies with 2014's Honkai Gakuen 2 (released in the West as Gun Girl Z ) being their third game and their first commercial success. Liu Wei would rather recall in an interview watching in astonishment as his Alipay account (a Paypal equivalent created by Chinese giant Alibaba) continued to grow throughout the game's first days. "I was young and had millions in my pockets," he says. "Couldn't have been more excited." It wasn't until their next title, Honkai Impact 3rd , however, that they truly had a worldwide breakout hit.

By 2017, miHoYo had grown from three college friends to a company with hundreds of employees. The company announced its next big project, a sprawling open-world fantasy RPG, at E3 2019. Genshin Impact Adventure Impact's visuals and open-world gameplay got players' attention despite, as Polygon pointed out at the time, some being quick to dismiss it as an anime clone of Breath of the Wild . With more than half of the game's ten million pre-registrations coming from outside China, Genshin Impact became one of the most successful Chinese games at launch on the global market of all time - possibly even the top contender.

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Cai Haoyu, Liu Wei, and Luo Yuhao were classmates at Shanghai Jiao Tong University who bonded over their shared love of anime. The trio wanted to create anime games of their own, but in the mid-2000s there were few studios in China. The three would make games in their spare time while completing their studies, participating in several student game design competitions , and by the time they were within reach of their masters' degrees Cai, Liu, and Luo decided to form a startup. The financial crash of 2008 had limited their "safe" options as graduates, so they decided to go all-in on their passion and founded miHoYo in 2012.

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