Tencent, the Chinese technology and entertainment giant, has announced the creation of its own metaverse division. The division, named the Extended Reality Unit, will be the one responsible for encompassing all metaverse-focused efforts, including hardware and software developments. According to reports, the company aims to employ more than 300 people in this unit, with Tencent giving it high priority even among the execution of cost-cutting measures.
Tencent officially announces the Metaverse division
Tencent, one of China’s largest software companies, has taken a step closer to entering the metaverse. According Reutersthe Chinese technology and entertainment giant has announced the creation of its extended reality unit, which will encompass all the initiatives the company will carry out with the aim of entering the metaverse-focused market.
The division will be headed by current Global chief technology officer Li Shen and will be part of the company’s entertainment division. Although there is still not much information about the direction the unit will take, sources say that the company will produce both software and hardware products for the metaverse, this means that Tencent could be on the point of being a serious competitor for companies like Meta and Microsoft. to the east with the hypothetical production of AR and XI material.
Put the weight on top
The extended reality unit doesn’t appear to be just another unit in Tencent’s corporate structure. The unit is supposed to be secret since the beginning of this year. The company aims to have a team of over 300 people dedicated to different metaverse-focused projects.
This speaks volumes about the importance Tencent places on metaverse and extended reality projects even when the company has implemented cost-cutting measures and slowed hiring efforts due to macroeconomic market conditions. unit being considered a passion project of the founder of Tencent. But sources have also indicated that this view could change in the future depending on the direction and performance of the unit.
Other companies, like Meta, have also invested in metaverse devices and platforms to gain the upper hand in metaverse hardware and software, seeking to be the first to present a consistent virtual reality platform. However, this will cost them R&D money, as Meta recently acknowledged.
Efforts have also been made to supplement the Metaverse standards. Meta, Microsoft, and other companies like Epic Games launched the Metaverse Standards Forum, with the idea of collecting information from open activities to coordinate the establishment of jointly created standards for metaverse platforms.
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