Tencent, the Chinese software and technology company, has announced its suite of metaverse services designed to target Asian markets. The company revealed that it will revamp its media offering with its new “metaverse-in-a-box” offering, which aims to make it easier for third-party companies to build virtual worlds.
Tencent will focus on offering metaverse tools to third parties
Tencent, one of the biggest Chinese tech companies, has revealed its hand on the future of its metaverse strategy. The company announced that it will focus on offering “metaverse in a box” services to its customers through its cloud division. This move, which comes as a complement to the offer of media services that the company launched last year, aims to facilitate the task of developing virtual worlds for Tencent clients.
Tools released by Tencent will reportedly be used to build and design these metaverse spaces by gaming, media, entertainment, and retail companies, with various purposes in mind. Tencent aims to bring the services to customers in Asian markets, especially Singapore, Malaysia, Indonesia and Thailand, which will see significant growth in this area according to company projections.
Poshu Yeung, Senior Vice President of Tencent Cloud International, fixed:
With more businesses now willing to explore and adapt to a seamless and efficient digital future, we stand ready to draw on our technical expertise in the gaming, audio, and video fields to provide technical support for Web3 and work with industry partners to create a more immersive experience and foster a better Web3 ecosystem.
A turn to software
Tencent’s new plans point to a shift from pursuing a metaverse hardware business to focusing on what the company is known for: software development. Although the company announced the creation of its extended reality unit in June 2022, which would supposedly develop native hardware to experience virtual worlds, recent reports point to the cancellation of these initiatives and the dissolution of this group.
Tencent dismissed reports of such a dissolution of this division, but claimed it was making adjustments to its staff due to a change of plans. Other Chinese companies are also in the process of cutting back on their division and metaverse-related groups, such as Bytedance, which is the creator of the Pico line of virtual reality (VR) headsets.
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