This post is also available in:
简体中文 (Chinese)
A ByteDance spokesperson revealed that the company is in talks with potential buyers, including Tencent, to sell its subsidiary Nuverse to spin off its gaming unit.
Nuverse was once seen as a key unit for ByteDance to catch up with Tencent in the global gaming market. However, ByteDance significantly laid off its gaming unit in November last year, and this negotiation is intended to get rid of this once promising asset.
Tencent holds a leading position in China’s huge gaming market, but faces growing challenges as regulators impose tighter restrictions on gaming.
(Source: AFP Image source: freepik)
