Tencent, a Chinese conglomerate, is reportedly interested in purchasing Dungeons & Dragons (DND) from Hasbro or exclusive rights to make video games.

Hasbro approached Larian Studios about buying DND after Baldur's Gate 3's success. Tencent, a minority investor in Larian Studios, mediated the deal despite having insufficient funds.

Tencent's recent struggles, including operating losses and job cuts, have led Hasbro to pursue the acquisition.

Tencent's subsidiary IEG Global is seeking a "series of rights" including Dungeons & Dragons adaptation rights.

Tencent has struggled with licensed IPs, including high copyright fees, long-term revenue sharing, and IP owner restrictions.

The report's focus on video game rights makes Tencent's goals unclear, as it usually buys game studios rather than IPs.

Hasbro is considering selling Dungeons & Dragons through Larian Studios due to its financial crisis.

Tencent's overseas business department IEG Global is negotiating to acquire a variety of rights, including DND adaptation rights.