BUSINESS

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BUSINESS

TikTok parent shuts down gaming unit

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Nuverse shutdown

ByteDance, TikTok's parent company, is planning to shut down its Nuverse gaming division and withdraw entirely from the mainstream video game industry.

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Layoffs

The move will result in hundreds of layoffs and discontinued projects, with an official announcement expected today.

3

Moonton sale

ByteDance is also seeking buyers for its game development subsidiary, Moonton Technology, and has restructured its virtual reality firm, Pico.

4

Ohayoo unaffected

However, casual gaming brand Ohayoo and games on TikTok and Douyin will remain unaffected.

5

Marvel snap failure

Established in 2019, Nuverse's performance has been uneven, with its most popular game, Marvel Snap, failing to achieve commercial success.

6

Domestic rival

Established in 2019, Nuverse was ByteDance's ambitious entry into the global gaming market and a strategic move against domestic competitor Tencent Holdings.