ByteDance, the parent company behind TikTok, has disclosed plans to wind down its Nuverse gaming brand and withdraw from mainstream video game operations, as reported by four individuals familiar with the matter.
According to Reuters’ sources, ByteDance will initiate a restructuring of its gaming division following an internal review, opting for a strategic shift without elaborating further on the specifics.
In response to Reuters’ inquiries, a ByteDance spokesperson mentioned, “We regularly review our businesses and make adjustments to center on long-term strategic growth areas. Following a recent review, we’ve made the difficult decision to restructure our gaming business.”
ByteDance’s pivot away from gaming marks a significant strategic shift for the Chinese technology giant, signifying a retreat from the competitive game industry. The closure of Nuverse and the cessation of game development projects signal a departure from ByteDance’s previous foray into gaming, opting instead to refocus efforts on other long-term growth areas.
Nuverse, a gaming brand under ByteDance’s umbrella, emerged as a platform intended to carve a niche within the gaming industry. It is best known for the successful mobile TCG game Marvel Snap, which amassed over $125 million with 25 million downloads.