By Sagar V. Mankar ByteDance, the company behind the social media platform TikTok, has shut down its gaming brand Nuverse and withdrawn from mainstream video games.
In a statement to Reuters, ByteDance’s spokesperson revealed that they are making business adjustments to center on long-term strategic growth areas, and following a thorough review, they decided to restructure their gaming business.
While specific details remain undisclosed, the company informs its employees to cease work on unreleased games by December. Moreover, ByteDance is exploring avenues to divest from titles that have already been launched.
Contrary to its previous ambitions, ByteDance reportedly has no plans to re-enter the $200 billion global video games market. This decision marks a notable withdrawal from the competitive landscape dominated by gaming behemoths like Tencent and Sony.
Ohayoo Remains Unaffected
While Nuverse undergoes this transformation, ByteDance assures that its casual gaming brand Ohayoo, featuring games on Douyin (TikTok’s sister app in China), will remain unaffected. Additionally, casual games running on TikTok will continue without disruption, underlining ByteDance’s promise to maintain certain aspects of its gaming ventures.
Nuverse’s Performance
Talk about Nuverse, it was created by ByteDance in 2019 which aligns with its ambition to compete with the world’s largest gaming company Tencent. However, Nuverse’s performance has been inconsistent, with its flagship game, “Marvel Snap,” gaining a cult following but failing commercially.
Other titles, such as “One Piece: The Voyage” and “Crystal of Atland,” have contributed to Nuverse’s diverse portfolio.
In 2021, ByteDance formalized Nuverse as one of its six business units during a broader structural overhaul. Despite this, the recent decision to wind down Nuverse signals a shift in ByteDance’s priorities and strategic direction.
Looking Ahead
As ByteDance navigates this transformation, questions arise about the future trajectory of its gaming endeavors. The company’s decision to divest from Nuverse and its subsidiaries, such as Moonton Technology, raises speculation about potential collaborations, mergers, or new ventures in ByteDance’s roadmap.
Stay tuned with Gaming Foodle for further updates about Nuverse and ByteDance.