Chinese holding company Tencent announced to its crew that it has officially established an extended reality business division XR, entering the bet on the concept of metaverse and virtual world.
This new division has the task of building a specialized business in the extended reality of Tencent that includes the necessary software and hardware, and will lead this division, which will become part of the Interactive Entertainment Business Group, by Li Chen, CTO of Tencent Games Global.
Sources close to the company stated that the department will have about 300 staff, which is considered a huge number at a time when Tencent seeks to reduce expenses and ease recruitment processes, but the same sources warned that the volume of staffing is still volatile and unstable, as the company will adjust the number of employees. Based on department performance. Read more [China’s Tech Giants are Rushing Into Metaverses].
Investors, entrepreneurs and tech giants around the world have been rushing into the concept of a metaverse world since the early days of Facebook CEO Mark Zuckerberg changing his company’s name to Meta Platforms and dedicating his company’s future to building the metaverse world. Read more [Meta Announces a New Virtual Clothing Store] and [Baidu Will Need 6 Years to Launch its Own Metaverse].
Many companies, from Microsoft to Disney, have announced that they are working on their own metaverse world, in conjunction with the development of other Chinese and American technology companies such as ByteDance, the owner of TikTok, and Apple, for devices and helmets that include extended reality technologies. Read more [The World of Metaphysics Will Be Investable].