Chinese technology and entertainment giant Tencent has announced the creation of its own metaverse-driven division. Dubbed the Augmented Reality Division, the department will be responsible for encompassing all efforts related to the metaverse, including hardware and software development. According to reports, the company aims to employ more than 300 people in this division, and Tencent has made it a priority even as it implements cost-cutting measures.
Tencent Officially Announces Metaverse Division
Tencent, one of China’s largest software companies, has taken another step toward entering the Metaverse, according toReuters, the Chinese tech and entertainment giant has announced the creation of an augmented reality division that will encompass all initiatives the company implements with the aim of entering the metaverse-driven market.
The division will be led by Li Shen, Global’s current chief technology officer, and will be part of the company’s entertainment division. While there is not yet much information on the direction this division will take, sources have stated that the company will produce both software and hardware products for the Metaverse. This means that Tencent may be poised to become a strong competitor to companies such as Meta and Microsoft in the East in virtual production of AR and XI hardware.
weighing in on
The augmented reality unit appears to be more than just another unit in Tencent’s corporate structure. This unit has probably been under wraps since the beginning of this year. The company aims to have over 300 staff dedicated to various metaverse-driven projects.
This tells us that even as the company implements cost-cutting measures and slows down its recruitment efforts due to macroeconomic conditions in the market, Tencent is placing importance on metaverse and augmented reality projects, and this unit is seen as a passion project of Tencent’s founder The unit is seen as a passion project of Tencent’s founders. However, sources also point out that this vision may change in the future, depending on the division’s focus and performance.
Other companies, such as Meta, are also seeking to invest in Metaverse devices and platforms and be the first to present a cohesive virtual reality platform in order to gain an edge with respect to Metaverse hardware and software. However, this would be a loss in the R&D domain, where, as Meta has recently acknowledged,
there are also efforts to complete the Metaverse standard: companies such as Meta, Microsoft, and Epic Games have been working to gather information from open activities to Metaverse Standards Forum, with the idea of gathering information from open activities and coordinating the establishment of standards to be jointly created for the Metaverse platform.
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