Media: Chinese holding ByteDance is leaving the gaming market. The creators of TikTok are closing the development studio of the popular Marvel Snap game

According to the Reuters news agency, the Chinese holding company ByteDance, which created the service with, is winding down its gaming direction.

Here's What We Know

The management of ByteDance planned to take a leading position in the market of video games and even squeeze there Tencent. For this purpose, the game division Nuverse was created.

In 2022, the studio released the card game Marvel Snap, which is still popular and profitable, but the income did not meet the expectations of ByteDance and, as it became known to journalists, the company decided to leave the gaming market.

Nuverse studio will be completely disbanded and its developers have already received layoff notices.

Moonton studio, which dealt with mobile games, will be sold if there are buyers for it.

ByteDance plans to keep only the Ohayoo studio, which specialises in developing casual games for TikTok.

All projects ByteDance's internal divisions have been working on will be cancelled or sold to other companies.

Source: Reuters