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TikTok owner ByteDance announced ongoing discussions with multiple potential buyers for its gaming assets, signaling a strategic shift away from the gaming industry. Among the prospective buyers is Tencent, the world’s largest video games company.
A ByteDance spokesperson confirmed the talks but emphasized that no deal has been finalized as of yet, as reported by Reuters.
The negotiations involve ByteDance’s Nuverse gaming unit, responsible for popular titles such as “Crystal of Atland” and “Earth: Revival.”
The move aligns with ByteDance’s announcement in November 2023 to overhaul Nuverse and withdraw from the gaming business, redirecting focus towards its core operations.
Sources reveal that ByteDance ceased development on unreleased games and plans to divest already launched titles, including seeking buyers for its gaming unit Moonton, acquired in 2021, as reported by Reuters in November.
ByteDance’s decision to sell its gaming assets comes five years after its ambitious entry into the $185 billion global video games market.
This shift is in line with the company’s strategic realignment and concentration on core business areas. The relationship between ByteDance and Tencent in the gaming sphere appears to be evolving positively after a competitive period.
In December, Tencent leveraged ByteDance’s advertising network extensively to promote its latest game, “DreamStar,” according to Reuters.
As ByteDance navigates these discussions, the future of its gaming assets remains uncertain. The outcome will not only impact the company’s diversification strategy but also reshape the dynamics of the highly competitive Chinese gaming industry.
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