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ByteDance Ltd., a Chinese internet technology company that is widely known for its Tiktok video hosting platform, is reportedly moving away from the gaming business. Based on the reports, the company will fully retreat from this sector to shift focus to other units.
Now, as it plans to give up its gaming, ByteDance will shut down its Nuverse game development and publishing brand. As per Reuters, the plan was revealed through an internal announcement that was made by the company on Monday, Nov. 27.
ByteDance’s Total About Face from the Gaming Industry
Four sources who are familiar with the matter told the publication that the gaming operations at ByteDance have come to an end. As a result, Nuverse will be pulled out from mainstream video games.
It was added that the TikTok creator has no plans of going back to the global video market after this winding down decision. The sources of these details were not named as the information is still confidential at this time.
Imminent Impact on Employees
ByteDance’s decision to shut its Nuverse unit and discontinue its gaming business will surely affect hundreds of workers. It was said that some of them already knew about the company’s plan during the weekend, and true enough, the announcement came on Monday.
Reuters previously reported that ByteDance is looking for buyers for Moonton Technology, its game-developing subsidiary. On top of this, it has also revamped its Pico virtual reality unit, which included trimming down a big portion of its content team.
Now, Nuverse is being closed, and ByteDance is expected to inform employees to halt work on unreleased games by December. With all of these activities, it is clear that the company has been getting rid of its gaming business for quite some time now.
As Bloomberg reported, the firm has slowly scaled back its gaming plans after the COVID pandemic. It was said that ByteDance is taking this route after encountering stiff competition with NetEase Inc. and Tencent.
Photo by: ByteDance Media Assets
