TikTok creator ByteDance intends to discontinue its Nuverse gaming brand and leave the mainstream video game industry, according to reports quoting information from people with knowledge of the situation.
Without providing any additional information, ByteDance informed Reuters that it has chosen, upon examination, to restructure its gaming division.
"We regularly review our businesses and make adjustments to centre on long-term strategic growth areas. Following a recent review, we've made the difficult decision to restructure our gaming business," the spokeperson said.
According to the insiders, ByteDance will seek for methods to remove itself from games that have already been released and will instruct staff members to cease development on upcoming releases by December 1.
Numerous employees, some of whom found out about the relocation over the weekend, are expected to be impacted by the decision, according to the people.
They said, declining to be identified since the information was confidential, that the Chinese technology company has no plans to rejoin the $185 billion global video game business.
According to one of the sources, casual games that are available on TikTok and the casual gaming brand Ohayoo, which has games on Douyin, TikTok's sibling app in China, won't be impacted.
Earlier this month, there were rumours that ByteDance had begun looking for a buyer for its subsidiary Moonton Technology, which develops video games. Additionally, it reorganised Pico, its virtual reality business, and reduced the size of its content team.
The launch of Nuverse in 2019 by ByteDance was largely regarded as a significant step towards international gaming and a tactical move to counter rival Tencent Holdings, the largest gaming firm in the world, at home.
Nuverse hasn't always performed well, though. The most well-known game on it is "Marvel Snap," an online card game that gained a cult following despite not being a big hit on the market.
Action games "One Piece: The Voyage" and "Crystal of Atland" are among the other titles.
After ByteDance formally recognised Nuverse as one of its six business units in 2021 as part of a larger structural reorganisation, Nuverse gained attention once more.
In order to increase production capacity, Nuverse purchased outside studios in 2021, among them C4games.
(Source:www.theprint.in)
Without providing any additional information, ByteDance informed Reuters that it has chosen, upon examination, to restructure its gaming division.
"We regularly review our businesses and make adjustments to centre on long-term strategic growth areas. Following a recent review, we've made the difficult decision to restructure our gaming business," the spokeperson said.
According to the insiders, ByteDance will seek for methods to remove itself from games that have already been released and will instruct staff members to cease development on upcoming releases by December 1.
Numerous employees, some of whom found out about the relocation over the weekend, are expected to be impacted by the decision, according to the people.
They said, declining to be identified since the information was confidential, that the Chinese technology company has no plans to rejoin the $185 billion global video game business.
According to one of the sources, casual games that are available on TikTok and the casual gaming brand Ohayoo, which has games on Douyin, TikTok's sibling app in China, won't be impacted.
Earlier this month, there were rumours that ByteDance had begun looking for a buyer for its subsidiary Moonton Technology, which develops video games. Additionally, it reorganised Pico, its virtual reality business, and reduced the size of its content team.
The launch of Nuverse in 2019 by ByteDance was largely regarded as a significant step towards international gaming and a tactical move to counter rival Tencent Holdings, the largest gaming firm in the world, at home.
Nuverse hasn't always performed well, though. The most well-known game on it is "Marvel Snap," an online card game that gained a cult following despite not being a big hit on the market.
Action games "One Piece: The Voyage" and "Crystal of Atland" are among the other titles.
After ByteDance formally recognised Nuverse as one of its six business units in 2021 as part of a larger structural reorganisation, Nuverse gained attention once more.
In order to increase production capacity, Nuverse purchased outside studios in 2021, among them C4games.
(Source:www.theprint.in)
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