King's Bounty is widely considered to be the precursor for much of the gameplay in the Heroes of Might and Magic series (the Might and Magic series being the basis for the storyline), both of which were published by New World Computing and designed by Jon Van Caneghem.
The 2001 PlayStation 2 title Heroes of Might and Magic: Quest for the Dragon Bone Staff is an enhanced remake of King's Bounty made by 3DO.