Tencent Launches Extended Reality Unit to Tackle the Metaverse Market

Tencent, the Chinese technology and entertainment giant, announced the creation of its own metaverse-driven division. The division, named the extended reality unit, will be the one tasked with encompassing all metaverse-driven efforts, including hardware and software developments. Según informes, the company aims to employ over 300 in this unit, with Tencent giving it big importance even among executing cost-cutting measures.

Tencent Officially Announces Metaverse Division

Tencent, one of the biggest Chinese software companies, has taken another step toward getting into the metaverse. According to Reuters, the Chinese tech and entertainment giant announced the creation of its extended reality unit, which will encompass all of the initiatives that the company will run with the goal of entering the metaverse-driven market.

The division will be led by the current Global’s Chief Technology Officer Li Shen, and will be part of the entertainment division of the company. While there is still not much information about the direction that the unit will take, sources state that the company will produce both software and hardware products for the metaverse, This means that Tencent might be poised to be a strong contender for companies like Meta and Microsoft in the east with the hypothetical production of AR and XI hardware.

Putting the Weight on Top

The extended reality unit does not seem to be just another unit in Tencent’s corporative structure. The unit supposedly has been under wraps since earlier this year. The company aims to have a staff of more than 300 people dedicated to different metaverse-driven projects.

LEER  Adidas Originals NFT Compilation Enters Top 50 Collections by Volume, Close to $60M in Sales in 18 Días

This speaks volumes about the importance that Tencent is given the metaverse and extended reality projects even when the company has been executing cost-cutting measures and slowing down hiring efforts due to the macroeconomic conditions of the market, with the unit being considered a passion project of the founder of Tencent. But sources also indicated that this vision might change in the future according to the focus and performance of the unit.

Other companies, like Meta, have also been investing in metaverse devices and platforms to get the upper hand when it comes to metaverse hardware and software, seeking to be the first to present a cohesive virtual reality platform. Sin embargo, this will make them lose money in the R&D area, as Meta acknowledged recently.

There have been also efforts to complete metaverse standards. Meta, Microsoft, and other companies like Epic Games launched the Metaverse Standards Forum, with the idea of gathering information from open activities to coordinate the establishment of jointly created standards for metaverse platforms.

Etiquetas en esta historia

What do you think about Tencent launching a metaverse unit? Tell us what you think about this subject in the comments section below.

Sergio Goschenko

Sergio es un periodista de criptomonedas radicado en Venezuela. Se describe a sí mismo como retrasado en el juego., ingresando a la criptosfera cuando el precio subió durante diciembre 2017. Tener una formación en ingeniería informática., viviendo en venezuela, y ser impactado por el boom de las criptomonedas a nivel social, él ofrece un punto de vista diferente sobre el éxito de las criptomonedas y cómo ayuda a los no bancarizados y desatendidos.

LEER  Mining Firm Titan Introduces Lumerin, a Project Aiming to Commodify Bitcoin’s Hashpower

Créditos de imagen: Shutterstock, pixabay, Wiki Commons