Tencent Launches Extended Reality Unit to Tackle the Metaverse Market – One of the largest Chinese software businesses, Tencent, has made progress toward entering the metaverse. The Chinese tech and entertainment giant reportedly revealed the formation of its extended reality section, which will include all of the efforts it will carry out in an effort to break into the metaverse-driven market.
The division, which will be a component of the company’s entertainment sector, will be led by Li Shen, the current chief technology officer of Global. Sources claim that the company will produce both software and hardware products for the metaverse, despite the fact that there is still little information available about the unit’s future course. With the potential production of AR and XI hardware, Tencent may be well-positioned to compete with firms like Meta and Microsoft in the east.
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The extended reality unit does not appear to be merely one more corporate division of Tencent. The unit has allegedly been concealed since the beginning of the year. Over 300 people working on various metaverse-focused initiatives are the company’s long-term goal.
Given that the unit is regarded as the founder of Tencent’s passion project and that the company has been implementing cost-cutting measures and slowing down hiring efforts due to the macroeconomic conditions of the market, this says a lot about the importance that Tencent accords the metaverse and extended reality projects. However, sources also suggested that this vision might alter in the future depending on the unit’s priorities and performance.
In an effort to get an advantage over competitors when it comes to metaverse hardware and software and be the first to deliver a coherent virtual reality platform, other companies, like Meta, have also been investing in metaverse devices and platforms. However, as Meta recently recognized, this will result in them losing money in the R&D area.
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Additionally, attempts have been made to finish the metaverse standards. The Metaverse Standards Forum was established by Meta, Microsoft, and other businesses like Epic Games with the goal of coordinating the production of standards that were cooperatively developed for metaverse platforms.
