ByteDance says to restructure Nuverse in retreat from gaming business

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ByteDance’s logo is seen on the company’s office building in Shanghai, China, July 4, 2023. REUTERS/Aly Song Get license rights

  • TikTok maker to tell employees on Monday
  • It requires employees to stop working on unreleased games
  • To find ways to get out of the started topics
  • Casual game brand Ohayo or TikTok games will not be affected.
  • Nuverse’s performance has been weak since its 2019 inception.

HONG KONG, Nov 27 (Reuters) – TikTok maker ByteDance plans to offload its Nuverse game brand and retreat from mainstream video games, four people familiar with the matter said.

ByteDance told Reuters it had decided to restructure its gaming business after a review, without giving further details.

“We regularly review our businesses and make adjustments to focus on long-term strategic growth areas. Following the recent review, we have made the difficult decision to restructure our gaming business,” the spokesperson said.

The sources said ByteDance will tell employees on Monday to stop working on unreleased games until December and will look for ways to exit the launched titles.

The decision could affect hundreds of employees, some of whom knew about the move over the weekend, the people said.

The Chinese tech company has no plans to return to the $185 billion global video games market, the report said, citing undisclosed information.

Casual game brand Ohio’s game will not and will not be affected by Douyin – TikTok’s sister app in China. Casual games that work on TikTokOne of the men said.

Reuters reported this month that ByteDance has begun looking for buyers for its game development subsidiary. Moonton Technology. Virtual reality has also revolutionized the company. Picocutting the bulk of the content group.

ByteDance’s 2019 creation of Nuverse was seen as a major push into the global game and a strategic part of its rivalry with domestic rival Tencent Holdings. (0700.HK)The world’s largest gaming company.

Nuverse’s performance, however, is skewed. The most popular game is “Marvel Snap,” an online card game that gained a cult following but was not a commercial disaster.

Other titles include action games “One Piece: The Voyage” and “Crystal of Atland.”

Nuverse stepped back into the spotlight in 2021 when ByteDance served as one of its six business units under a broader structure. Make improvements.

Nuverse acquired external studios in 2021, including C4games, to build production capacity.

Reporting by Josh Yee; Editing by Brenda Goh and Christopher Cushing

Our standards: The Thomson Reuters Trust Principles.

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