China-based ByteDance has closed a game production studio, laying off more than 100 people. TikTok’s parent firm, ByteDance, has shut down the ‘101 Studio’ in Shanghai that it purchased three years ago.
According to Nikkei Asia, “TikTok owner ByteDance is disbanding one of its primary gaming studios owing to its dismal performance.”According to the source, some of the 300 employees of the game studio have been reassigned to other ByteDance verticals.
ByteDance’s acquisition of 101 Studio’s core group in 2019 was “regarded as laying the framework to challenge Tencent Holdings’ supremacy in mobile gaming.”
The news comes as TikTok is said to be contemplating a significant push into gaming. According to reports, the short-video-making company has performed testing allowing users in Vietnam to play games within its app.
According to TikTok, Zynga’s “Disco Loco 3D,” a music and dance challenge mini-game, is presently the sole game offered to players on its site.
ByteDance is also expected to enter the virtual reality (VR) market. According to Protocol, ByteDance plans to invest “a lot of money” in VR-related content.
According to the sources, over 40 job posts for Pico, the Chinese VR headset firm bought by ByteDance last year, have appeared.
Gadgets Now may be found on Facebook and Twitter. Check out Azmitech.com for the newest news, technology news, breaking news headlines, and live updates.