en
Back to the list

Chinese IT Giant Tencent Launches Extended Reality Unit For Metaverse - TheNewsCrypto


thenewscrypto.com 27 June 2022 15:20, UTC
Reading time: ~2 m

  • Tencent’s extended reality unit isn’t just another corporate unit.
  • This new unit will contain all of Tencent’s projects to break into the metaverse.

Chinese IT giant Tencent has taken another step toward entering the metaverse. According to Reuters, an extended reality unit has been launched by Chinese technology and entertainment giant Tencent. This new unit will contain all of Tencent’s projects to break into the metaverse-driven marketplace. Under Li Shen’s leadership, the unit will be integrated into Global’s entertainment business and become an independent unit.

Sources claim that the firm will develop software and hardware for the metaverse, indicating that Tencent may be a formidable competitor for companies like Meta and Microsoft in the east with the projected manufacturing of AR and XI gear.

Tough Competition to Rivals 

Tencent’s extended reality unit isn’t just another corporate unit. According to reports, the device has been kept a secret since the beginning of the year. The company will employ more than 300 people to work on various metaverse-related projects.

Even if the financial constraints of the market have caused Tencent to implement cost-cutting measures and limit employment efforts, the business is giving metaverse and extended reality projects a high priority. The unit is regarded as a passion project of Tencent’s founder. Sources, however, stated that this goal might alter in the future, depending on the unit’s emphasis and operational effectiveness.

Other firms, such as Meta, have invested in metaverse devices and platforms to gain an advantage in the metaverse hardware and software market. However, Meta has recently acknowledged that this will cost them money in the R&D department.

Metaverse standards have also been worked on. Together with firms such as Epic Games and others in the metaverse industry like Microsoft, Meta developed the Metaverse Standards Forum to coordinate the creation of standard operating procedures for metaverse platforms.

Recommended For You:

Meta and Microsoft Are Founding Members of Metaverse Standards Forum


   Source
Back to the list