TikTok owner ByteDance is retreating from the gaming business and is now seeking buyers for its gaming portfolio.
The Chinese tech giant has confirmed it is in discussions with multiple parties, including gaming behemoth Tencent, regarding the sale of its gaming assets.
Why is ByteDance Selling its Gaming Assets?
In November 2023, ByteDance announced plans to revamp its Nuverse gaming unit and exit the gaming industry altogether.
This move comes just 5 years after the TikTok owner made a big push into gaming to take on rivals like Tencent.
However, ByteDance now wants to focus on strengthening other core businesses like TikTok and slowly divest from gaming operations.
[Or online market restrain by the Chinese govt could be the reason I thought]
It has stopped working on unreleased games and is selling off current titles.
What Games are Up for Sale?
According to local media, Tencent is interested in acquiring several of ByteDance’s most popular titles.
These include the RPG “Crystal of Atland”, the sandbox game “Earth: Revival”, and potentially other Nuverse-published games.
ByteDance’s other gaming unit Moonton, acquired in 2021, is also seeking buyers.
Moonton is known for Mobile Legend Bang Bang.
So the company’s full gaming portfolio seems to be on the table as it looks to make a profitable exit.
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