ByteDance reportedly pulling out of games following Nuverse restructure
TikTok owner ByteDance is reportedly leaving the games industry following a restructure.
The Chinese technology firm told Reuters that it has decided to restructure its gaming arm, Nuverse.
"We regularly review our businesses and make adjustments to centre on long-term strategic growth areas," a spokesperson said. "Following a recent review, we've made the difficult decision to restructure our gaming business."
Sources familiar with the matter told Reuters that ByteDance would not return to the games industry.
They added that development of unreleased games will reportedly be halted by December, and already released titles such as Marvel Snap, One Piece: The Voyage, and Crystal of Atland will be divested.
According to sources, casual developer Ohayoo, whose titles run on TikTok's Chinese app Douyin, won't be affected by the restructuring.
ByteDance launched its Nuverse gaming arm in 2021, which included developers such as Moonton Technology, C4games, and publisher Pixmain.
Last week, it was reported that ByteDance was considering to sell Moonton.
The firm has been reducing its gaming scope in recent years, with two rounds of layoffs occurring in 2022.
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