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According to Reuters, ByteDance, the parent company of TikTok, is reportedly winding down its Nuverse gaming brand and exiting the mainstream video games industry. This restructuring is expected to impact "hundreds" of jobs within the company. Here are some key points regarding the situation:
1. Unreleased Games: ByteDance plans to instruct employees to stop working on any unreleased games under the Nuverse brand by December. This indicates a shift away from future game development in the mainstream video games sector.
2. Divesting from Launched Titles: ByteDance is exploring options to divest from its already-launched gaming titles, including games like "Marvel Snap" and "One Piece: Blood Routes." This suggests that ByteDance is looking to move away from the gaming market entirely.
3. Potential Sale of Moonton: ByteDance is reportedly in talks to sell Moonton, a mobile gaming studio it acquired in 2021 as part of the Nuverse brand. This aligns with the company's strategy to divest from its gaming assets.
4. Ohayoo and TikTok's Casual Games: The restructuring does not affect Ohayoo, ByteDance's gaming brand for Douyin (the Chinese version of TikTok), and TikTok's casual games. These gaming segments are expected to continue operating independently.
It's worth noting that ByteDance's focus on different sectors within the technology industry may lead to adjustments in its business portfolio. Recently, ByteDance-owned virtual reality headset manufacturer Pico announced layoffs impacting several hundred employees. These developments suggest a broader strategic shift within ByteDance's operations.
Please note that the information provided is based on news reports, and the situation may evolve or change over time.
As part of the restructuring, ByteDance intends to instruct employees to halt work on any unreleased games under the Nuverse brand by December. This indicates a shift in focus away from future game development in the mainstream video games sector.
ByteDance is also exploring options to divest from its already-launched gaming titles, including games like "Marvel Snap" and "One Piece: Blood Routes." This suggests that the company is looking to exit the gaming market entirely and potentially seek buyers for its existing gaming properties.
In addition to winding down Nuverse, ByteDance is reportedly in talks to sell Moonton, a mobile gaming studio that it acquired in 2021 as part of the Nuverse brand. This further signifies ByteDance's intention to divest from gaming assets and streamline its operations.
It's important to note that while ByteDance is making changes in its gaming division, the restructuring will not affect Ohayoo, its gaming brand for Douyin, the Chinese version of TikTok, as well as TikTok's casual games. These segments are expected to continue operating independently.
These developments come in the wake of recent layoffs at Pico, a virtual reality headset manufacturer owned by ByteDance. The company has been making adjustments to its business portfolio, indicating a broader strategic shift within ByteDance's operations.
While the specific reasons for ByteDance's decision to wind down its gaming brand and exit mainstream video games are not explicitly mentioned in the reports, it appears that the company is refocusing its efforts and reallocating resources to other areas within the technology industry.
It's important to note that this information is based on news reports, and the situation may continue to evolve as ByteDance finalizes its plans and carries out the restructuring process.