HONG KONG: TikTok owner ByteDance said on Tuesday it is in talks with several prospective buyers of its gaming assets, including the world’s largest video games company, Tencent, as the Chinese social media firm retreats from the gaming industry.
While talks are underway, no agreement has been finalized, according to a spokesperson from ByteDance who spoke to Reuters.
On Monday, local media outlet LatePost reported that ByteDance and Tencent are in talks regarding a potential agreement that would encompass various well-received video games from ByteDance’s Nuverse gaming unit. This includes titles such as “Crystal of Atland” and “Earth: Revival.”
Popular video games such as “Crystal of Atland” and “Earth: Revival” from ByteDance’s Nuverse gaming unit are part of the negotiations, as reported by local media outlet LatePost on Monday.
Although discussions are underway, no final agreement has been reached yet, according to a ByteDance spokesperson’s statement to Reuters. In November, ByteDance had previously announced its intention to restructure Nuverse and exit the gaming sector, refocusing on its core businesses. This decision comes five years after the company initially entered the global video games market, valued at $185 billion.
As part of its strategic shift, ByteDance ceased development on unreleased games and aimed to divest titles already in circulation, as reported by Reuters sources. Additionally, ByteDance has been actively seeking buyers for its Moonton gaming unit, acquired in 2021, according to a November Reuters report.
