Mobile Legends wants to be sold, TikTok parent fires hundreds of tech employees – 6 hours ago

Jakarta, CNBC Indonesia – ByteDance, TikTok’s parent company, is giving up its fight in the video game business. Nuverse, a video game brand owned by ByteDance, is reportedly shutting down slowly.

To ReutersByteDance stated that they decided to restructure their gaming business after going through several studies.

“We regularly review our business and make adjustments to focus on long-term growth areas. After the latest review, we took the difficult decision to restructure our games business,” a ByteDance spokesperson told Reuters, quoted on Wednesday (29/11/2023).

Source Reuters stated that ByteDance employees were ordered to stop working on games that were still in development, starting in December. Video games that have been released are planned to be sold to other parties.

The decision to close Nuverse is expected to impact hundreds of employees.

Source Reuters stated that ByteDance has no plans to return to the video game business after restructuring.

The restructuring at Nuverse has no impact on Ohayoo, a game brand whose titles can be played via Douyin, an application similar to TikTok for the Chinese market. Casual games on TikTok will also not be affected by Nuverse’s decision.

ByteDance was previously reported to be planning to sell the Mobile Legends: Bang Bang developer company, Moonton Technology. The business that owns the ByteDance VR platform, Pico, is also known to have carried out major layoffs.

Nuverse was released by ByteDance in 2019 to compete with another Chinese technology giant, Tencent Holdings. However, Nuverse’s development stalled.

Nyverse’s most famous game title is the Marvel Snap card game. Other titles, One Piece: The Voyage and Crystal of Atland posted poorer performance.

[Gambas:Video CNBC]

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