Virtual Reality: a goldmine in the making

In Ark Park, players find themselves in a world filled with dinosaurs and must learn how to survive through gathering resources, hunting creatures and crafting weapons.

"The development of VR hardware is still at the nascent stage, there are not enough content providers and the market lacks quality games," said Wu. "So what we have done is to produce a VR game based on a successful IP and make some changes so that players can have a good experience."

Globally, VR hardware including headsets, peripherals and personal computers could hit $7 billion in revenue by 2021, according to US technology researcher Digi-Capital. Internet market research firm IDC projected that China's VR game industry will experience a boom this year and the market value of VR games would amount to 80 billion yuan ($11.91 billion) by 2020.

According to iResearch, games are a major constituent of VR application at the consumption level, outweighing VR video and broadcast. The firm predicted that VR content providers will only start to profit from 2019 when the content market is expected to improve.

By 2021, VR games content providing services will take up the majority 35 percent of the market, with its value reaching 9.6 billion yuan and video accounting for 30 percent, added iResearch.