From Mining Back to Gaming — The9 Plans to Build a “Web3 Version of Steam”

In early 2021, The9 Limited—a US-listed company focused on gaming as its core business—began expanding into the Web3 space. The firm added cryptocurrency mining operations covering Bitcoin, FIL (Filecoin), and XCH (Chia), and later launched the NFT platform NFTSTAR, further venturing into Web3 gaming. As of now, The9 holds more than 500 Bitcoin and has mining equipment deployed in several overseas locations.

As the early distributor of “MU Online” and “World of Warcraft,” The9 is a nostalgic touchstone for those born in the ‘80s and ‘90s. After entering Web3, The9 maintained its game publishing and development business, but its initial move into mining—rather than developing a blockchain game—was unexpected for many.

After a two to three year absence from Web3 industry headlines, The9 officially announced in August the launch of its Web3 gaming platform, The9bit—a project that synthesizes decades of gaming assets and advanced tokenomics.

The9bit: Bringing Token Incentives to Players and Communities, Steam-Style

Steam, the largest game distribution platform, only allows value to flow from users to publishers. The9bit aims to create an economy where players, creators, and publishers all share in the benefits. Official figures show The9bit now has over 4 million registered users, 300,000 daily active users, more than 100,000 orders, and has generated over $1.5 million in revenue.

According to The9bit documentation, players can earn points—redeemable for 9BIT tokens or in-game items—by purchasing AAA games based on major IPs, topping up mobile games, completing casual game tasks, watching ads, competing in esports tournaments, and acquiring rare collectibles. The9 has distributor authorization from Capcom, enabling sales of Devil May Cry, Resident Evil, and Monster Hunter series games. The9bit plans to further expand its licensing so all Steam-listed titles can be purchased on The9bit.

For topping up mobile games like “Genshin Impact,” “PUBG,” and “Honor of Kings,” The9bit explains that users can recharge directly via DTU—not through prepaid balances. DTU recharging requires partnership with game publishers, so users only need to have a platform account and cryptocurrency to recharge and earn points.

The9bit also launched Spaces, a Discord-like social tool to foster gaming guilds. Players can join Spaces to share or discover content—game clips, blogs, guides—supported by AIGC tools on the platform. The community also holds esports tournaments for rewards.

Players earn points for platform activities, but The9bit also issues daily token rewards to Spaces based on “performance,” using a weighted formula: 20% new users, 20% DAU activity, 60% store purchases. Half of daily tokens are released immediately, with the other half unlocking after 12 months. The9bit has partnered with Web3 gaming guild Yield Guild Games, which has likely aided rapid user growth and community formation, thanks in part to YGG’s support.

This platform was not built overnight. After a year in Web3, The9 explored several GameFi and NFT projects in 2022 and 2023, but found player onboarding barriers remained high. In June 2024, The9 hired former 91 Assistant executive Marrtin Hoon and established its Web3 division. Marrtin Hoon has helped many traditional operators build game distribution platforms and released games in Southeast Asia, Central Asia, and the Middle East. He also founded MetaOne, a Web3 game distribution platform. The9bit is the result of a year’s preparation by the Web3 division, drawing on deep Web3 and gaming industry expertise.

9BIT Tokenomics

9BIT will launch on Solana with a total supply of 10 billion tokens: 35% for ecosystem incentives, 15% for market liquidity, 38% for the project treasury, 7% for the team and advisors, and 5% for strategic investors. The9bit plans to launch 9BIT officially by year-end, but the exact date is still to be determined.

Of the 35% allocated to the ecosystem, 13% will be for player, community, and guild incentives—tokens redeemable for points earned through gaming, posting, and recharging; 8% for daily Space rewards; 2% for KOL/KOC programs to help creators attract users; and 12% for the ecosystem fund, supporting IP investment, strategic partnerships, and project incubation aligned with ecosystem goals.

Of the 38% project treasury allocation, half belongs to The9 and will be used for future partnerships, IP expansion, platform growth operations, and strategic acquisitions.

Beyond typical token functions—platform currency, incentives, governance, and exclusive content access—9BIT uniquely lets holders buy The9’s Nasdaq-listed stock during a designated period each year. The9bit has a token buyback plan, with part of annual net profit used for repurchases. Revenue comes from game distribution, in-game purchases, and casual game ads. The roadmap targets listing 9BIT on at least one exchange by year-end.

Next year’s Q1 roadmap includes peer-to-peer asset trading, staking portals, new AIGC creation tools, and esports events. Users can already pay with crypto, with fiat-to-crypto and fiat payment channels expected by mid-October. As new features roll out and 9BIT launches, more crypto use cases are anticipated on the platform.

The9 is highly confident in the token. Publicly available information shows The9 is not only building and operating the platform but is also evolving into a digital asset reserve company. With 9BIT’s issuance and rising platform revenues, The9 will accumulate 9BIT via repurchase and include it in its treasury. This strategy strengthens The9’s role in the Web3 economy and provides long-term digital asset management capabilities. As 9BIT’s market value grows, The9’s financial statements will benefit from the appreciation of its 19% 9BIT holdings. The9 could become the first company to establish equity value based on its own token, forging a symbiotic relationship between its share and token price.

Why the Gaming Platform Remains Promising

If you follow Web3 gaming, you’ve heard the “Web3 version of Steam” pitch more than once. But as noted, The9’s gaming expertise is unquestionable. Whether the platform’s Web3 integration succeeds as intended, The9bit’s ability to onboard more games is credible—a core strength most “Web3 Steam” imitators lack.

Industry and technology trends are pushing gaming toward UGC and AI, and Web3 is set to transform distribution, publishing, and sales. The9 is convinced The9bit will pioneer a new gaming ecosystem model—fusing games, players, and communities, reallocating revenue via Web3, and delivering transparent, unique, and reliable solutions.

After entering Web3 in 2021 and after more than four years of exploration, The9 ultimately chose to focus on its gaming strengths, pouring decades of industry resources into the field. As possibly the most game-savvy company in Web3, The9 is expected to turn its vision into reality.

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