Tencent Adopts New Metaverse Strategy

2023-2-18 12:42

One of China’s biggest companies is scaling down its metaverse unit as part of its new direction. 

Tencent is partially disbanding its Extended Reality (XR) metaverse unit, according to reports. 

The XR unit was formed in June 2022, and has over 300 staff. Now, members of the unit will need to leave the company or find another position, as Tencent takes on a new strategy. 

The move reflects a sudden change of direction for the Chinese tech giant. It appears that the company is moving away from its strategy to build virtual reality (VR) hardware and software. Instead, Tencent is pursuing a more cost-effective path as part of its new metaverse strategy.

What went wrong

There are multiple reasons for the company’s quick change of direction. According to sources close to Tencent, the company does not believe that the XR project will achieve profitability fast enough. Furthermore, a lack of promising games and non-gaming applications has given the XR project a dim forecast. Hence, the company is scaling down its XR ambitions. 

Currently, Tencent is the world’s largest video games publisher. Additionally, it is one of the world’s most financially valuable companies in terms of market capitalisation. In fact, it owns the application WeChat, which is highly prevalent in Chinese society. 

The company’s XR unit includes augmented reality (AR), virtual reality (VR), and mixed reality (MR). However, the company’s big bet on metaverse technologies appears to have backfired. 

The bottom line

Despite all, Tencent is still very much a key player in the emerging technologies market. Although the company is cutting costs and scaling down its XR plans, it will continue to pursue and leverage Web3 tools. In essence, the company is adjusting to the bleak economical climate, and hedging its bets accordingly – like many other tech giants.

Let’s not forget, Microsoft recently laid off its entire industrial metaverse project team. What is more, Meta’s metaverse division, Reality Labs, lost $13.7 billion in 2022. 

The post Tencent Adopts New Metaverse Strategy appeared first on NFT News Today.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Metaverse ETP (ETP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0117667
Капитализация $0 Rank 99999
Цена в час новости $ 0.1366 (-100%)

metaverse unit tencent new staff reports according

metaverse unit → Результатов: 80


Top 3 Metaverse Crypto Coins to Buy Below $2 – May 2022

This week, the cryptocurrency markets are showing a significant price decline, making it an excellent opportunity to pick up some underrated and currently undervalued Metaverse crypto coins. This article looks at our pick of the top three Metaverse crypto coins with a unit price below $2 to watch in May 2022, ordered by the current […] The post Top 3 Metaverse Crypto Coins to Buy Below $2 – May 2022 appeared first on NullTX.

2022-5-6 18:05


Top 3 Metaverse Crypto Coins With a Unit Price Below $5 to Watch in April 2022

There are dozens of Metaverse crypto coins on the market, and for a new trader, it may be hard to figure out which ones are the real deal and which projects have long-term potential. Today we look at our pick of the top three Metaverse crypto coins with a unit price below $5 to watch […] The post Top 3 Metaverse Crypto Coins With a Unit Price Below $5 to Watch in April 2022 appeared first on NullTX.

2022-5-1 03:54


Фото:

Top 3 Metaverse Tokens Under 9 Cents to Watch in April 2022

There are hundreds of Metaverse tokens on the market, and for new traders, it might be challenging to figure out which ones are the real deal and which projects truly have long-term potential. Some of the most popular options are low unit price Metaverse tokens which enable traders to accumulate a large number of coins […] The post Top 3 Metaverse Tokens Under 9 Cents to Watch in April 2022 appeared first on NullTX.

2022-4-10 16:51


Top 3 Metaverse Crypto Coins With a Unit Price Below $6 (March 2022)

Metaverse Crypto coins remain among the most popular options for traders and investors looking for underrated and undervalued projects that could see significant price gains later this year. Some of the most popular options are coins with a relatively low unit price, which means users on a budget can still accumulate a good amount of […] The post Top 3 Metaverse Crypto Coins With a Unit Price Below $6 (March 2022) appeared first on NullTX.

2022-3-23 04:31


Top 3 Metaverse Crypto Coins With a Unit Price Below $3 to Watch in March 2022

Low unit price Metaverse crypto coins are popular among users looking for undervalued and underrated projects to accumulate during this crypto bear market. From years of being in crypto, my experience is, usually, the markets show a long and painful decline followed by a short bullish run where if you’re invested in the right projects, […] The post Top 3 Metaverse Crypto Coins With a Unit Price Below $3 to Watch in March 2022 appeared first on NullTX.

2022-3-21 18:11


Фото:

Top 3 Metaverse Crypto Coins With a Unit Price Below $0.03 (March 2022)

With cryptocurrency markets showing signs of life this week, a number of Metaverse crypto coins are seeing significant bullish momentum. Is this the start of another bull run? Low-unit-priced Metaverse crypto coins remain one of the most popular options for traders and investors alike, and today we’re bringing you a list of our top three […] The post Top 3 Metaverse Crypto Coins With a Unit Price Below $0.03 (March 2022) appeared first on NullTX.

2022-3-9 19:11


Top 5 Metaverse Crypto Coins With a Unit Price Below $7 to Watch in February 2022

There are dozens of Metaverse crypto coins on the market, and it may be hard for new traders to figure out which ones are the real deal. This article looks at our pick of the top five Metaverse crypto coins with a unit price below $7 to watch in February 2022, ordered by price, lowest […] The post Top 5 Metaverse Crypto Coins With a Unit Price Below $7 to Watch in February 2022 appeared first on NullTX.

2022-2-21 08:04