It’s been introduced that Tencent would be the newest to re-evaluate its foray into the metaverse, in keeping with new stories. Particularly, that is following the announcement that it might be re-working its Prolonged Actuality (XR) metaverse unit.
In the intervening time, it’s not clear what number of layoffs will probably be happening, however it’s going to take its toll on the 300-strong division. As a part of the brand new technique, XR members will both be requested to go away the corporate or switch departments.
The information is available in tandem with western FAANG corporations which have both undergone big layoffs, or shuttered/reevaluated their very own metaverse tasks. Now, slightly than constructing out a full suite of metaverse {hardware} and software program, Tencent will probably be in search of more cost effective instructions.
A lot akin to its western counterparts, not like different departments too, Tencent believed that the XR undertaking wouldn’t be capable to present the sort of profitability the corporate would need. Together with an absence of flagship video games or purposes, the XR undertaking didn’t have the glittering potential it appeared to when it was launched final yr.