Tencent is the latest company to pull back from its Metaverse plans

Tencent is the latest company to pull back from its Metaverse plans

With the arrival of Corona and the importance of online communication, some large technology companies started thinking about creating and developing a completely online and virtual world, and the story of Metaverse reached its peak in 2022, however, at the end of 2022, companies again stopped pursuing their goals in this The department gave up and in this direction Tencent is also one of the latest companies to withdraw from its plans for Metaverse has done.

Entering the world of metaverse is not cheap at the moment and there is no guarantee for its success and profitability for companies. Reuters reported the news related to Tencent’s withdrawal from Metaverse, and the company is described as one of the largest video game publishers in the world. Tencent announced its plans for Metaverse in early 2022, with plans to hire nearly 300 people to produce related hardware and software.

However, due to the unfavorable outlook for this technology, Tencent seems to have canceled its plans in this direction. In this regard, Reuters reported that the dissolution of Tencent’s Metaverse team is going to be done and the team members have been given nearly 2 months to find a job.

Tencent withdraws Metaverse

According to published information, the company does not expect the Metaverse segment to be profitable until 2027, and the company itself is skeptical about the performance of its software and other products based on Metaverse.

However, Tencent denied a recent Reuters report about the dissolution of its Metaverse team, saying only that it was making some team-specific changes. Most of Tencent’s experience in the technology sector has been on software development and investing in gaming companies, so building a new hardware with support for Metaverse capabilities is described as a new trend for this company.

  • Dismissal of 100 Tencent employees for various reasons of committing corruption in 2022
  • John Carmack considers the current development process of Metaverse to be disappointing
  • Meta lost $14 billion due to its investment in Metaverse
  • What is the reason for Apple’s absence in the Metaverse world?

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