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Nuverse

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business2 years ago•1 min saved

ByteDance in Talks to Sell Gaming Assets to Tencent and Others

ByteDance, the owner of TikTok, is in talks with potential buyers, including Tencent, to sell its gaming assets as it retreats from the gaming industry. The discussions involve popular video games published by ByteDance's Nuverse gaming unit, and while no deal has been reached yet, ByteDance had previously announced its intention to overhaul Nuverse and focus on other core businesses. This move comes after ByteDance stopped working on unreleased games and planned to divest of titles already launched, signaling a shift in its strategic focus.

via Reuters|

#business #bytedance #divestment

business2 years ago•2 min saved

ByteDance's Gaming Retreat: Layoffs and Scaling Back Ambitions

ByteDance, the parent company of TikTok, is retreating from the gaming industry and laying off hundreds of employees as it winds down its video game studios under the Nuverse unit. The company will stop development on unreleased games and seek to sell off existing titles. ByteDance is also looking to sell Moonton, the video game studio behind the popular game "Mobile Legends: Bang Bang." The move comes as ByteDance aims to focus on its core businesses and streamline operations. Gaming accounted for a small portion of ByteDance's overall revenue, and the company had not achieved significant success in the industry.

via CNN|

#business #bytedance #gaming

business2 years ago•1 min saved

ByteDance's Retreat from Gaming: Nuverse to be Wound Down, Sources Say

ByteDance, the parent company of TikTok, is reportedly winding down its Nuverse gaming brand and fully retreating from mainstream video games. The company will ask employees to stop working on unreleased games and seek ways to divest from titles already launched. This decision is expected to impact hundreds of employees. However, ByteDance's casual gaming brand Ohayoo and TikTok's games will not be affected. The performance of Nuverse has been inconsistent since its formation in 2019, and the company has no plans to reenter the global video games market.

via Reuters|

#business #bytedance #gaming