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{"id":2514,"date":"2024-04-05T07:45:28","date_gmt":"2024-04-05T07:45:28","guid":{"rendered":"https:\/\/aitesonics.com\/bytedances-latest-layoffs-have-reportedly-gutted-the-publisher-of-marvel-snap-101548665\/"},"modified":"2024-04-05T07:45:28","modified_gmt":"2024-04-05T07:45:28","slug":"bytedances-latest-layoffs-have-reportedly-gutted-the-publisher-of-marvel-snap-101548665","status":"publish","type":"post","link":"https:\/\/aitesonics.com\/bytedances-latest-layoffs-have-reportedly-gutted-the-publisher-of-marvel-snap-101548665\/","title":{"rendered":"ByteDance's latest layoffs have reportedly gutted the publisher of Marvel Snap"},"content":{"rendered":"

According to Reuters<\/em><\/a> and Bloomberg<\/em><\/a>, TikTok's parent company ByteDance<\/a> is winding down its gaming arm, including the Nuverse brand, with "hundreds" of jobs likely to be affected. This spells yet more trouble for the Chinese tech giant following the layoffs<\/a> in its VR division, Pico<\/a>, earlier this month (Meta says hi, apparently<\/a>). Nuverse, acquired by ByteDance in 2017, is the publisher of notable titles including Marvel Snap,<\/em> Ragnarok X: Next Generation<\/em> and One Piece: Blood Routes<\/em>, as well as the developer of Crystal of Atlan<\/em>, Earth: Revival<\/em> and more. The company is allegedly seeking divestment from existing titles, while they remain in service for the time being.<\/p>\n

Despite the seeming success of these games, iFeng Tech's<\/em><\/a> sources claim that ByteDance CEO Liang Rubo had earlier criticized the gaming arm for its lack of focus and misallocation of resources. 21st Century Business Herald<\/em><\/a> also reports that when it comes to revenue, the Douyin (the Chinese counterpart of TikTok) and ad businesses still overshadow that of the gaming division within ByteDance, according to a source close to the matter. Moonton, another gaming subsidiary acquired by ByteDance in 2021, has apparently been seeking a buyer as well since earlier this month.<\/p>\n

Tech site 36Kr<\/em><\/a> claims that as many as around 700 employees across ByteDance's gaming business group are impacted by this restructuring, with all but two in-development projects already terminated. The likes of Tencent, NetEase and MiHoYo may eventually benefit from ByteDance's seeming defeat, but it's also a cautionary tale for these local competitors bound by China's ever-changing gaming regulations.<\/p>\n","protected":false},"excerpt":{"rendered":"